New York’s unemployment rate has increased to 8.7% from 8.2%, the worst it’s been since October 1992. (FYI, the national rate just moved from 9.4% up to 9.5%, so New York is doing relatively well, but still…) On healthcare, our government is facing an uphill battle in creating some sort of national healthcare option that …
New York personal bankruptcy rate likely to continue to increase Read More »
“Credit counseling” has a couple different meanings and common uses, and it can be very confusing for anyone considering bankruptcy in New York. So I thought I would to take a moment to clarify. One meaning is the credit counseling requirement under the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (aka BAPCPA). All individual …
What you should know about the credit counseling requirement Read More »
Just want to let everyone know that the Bankruptcy FAQ section from our website is now also available on this blog. In the Bankruptcy FAQ section, you can find answers on the following topics: What disclosures must a collection agency provide to a debtor? What actions must a collection agency avoid? Are there any alternatives …
You’ve probably heard by now that former New York Met star Lenny Dykstra (aka “Nails”) filed for Chapter 11 bankruptcy and all about his financial woes stemming from litigation, divorce, foreclosure, etc. But why Chapter 11? Isn’t Chapter 11 bankruptcy for companies? And don’t individuals usually file for Chapter 7 liquidation? Or maybe for Chapter …
A short (and funny) video from the TV show The Office that shows how not to declare bankruptcy–in Scranton, PA, in New York or anywhere else: [youtube=http://www.youtube.com/watch?v=HuGIgf-ICHM] The real way to “declare” bankruptcy in New York is to file a petition with the Bankruptcy Court. You might be surprised, however, to learn that most lawyers …
If you’re considering filing for bankruptcy lawyer Brooklyn NY, this news report by New York’s CBS News is worth a quick watch. Though interestingly, towards the end of the report reporter Kirstin Cole rightfully point out to be wary of debt settlement companies. However, at the very end the anchor seemingly contradicts Cole by instructing …
In the Irony Department, today a debt settlement company called Debt Relief USA filed for bankruptcy, according to an article in the Dallas Morning Herald. And the further irony is that many of the debtors who turned to Debt Relief USA for help are now creditors, while Debt Relief USA is the debtor! This, of …
A recent Washington Post article on credit scores (“Credit Score Shell Game“) is very illuminating. It’s one more example of how the world of credit cards is getting less warm and fuzzy and how struggling Americans can get scammed in the process. The gist of it is that: Credit scores are becoming more important as …
Understanding your credit score in the new economy Read More »
When the topic of bankruptcy in New York comes up, you hear a lot about things like Chapter 7, Chapter 13, the “means test,” financial statements and a bunch of other important terms. But what do you know about the trustee and his or her role in a bankruptcy case? It’s important to understand what …
What you should know about the trustee in bankruptcy Read More »
If Gabriel Garcia Marquez had struggled with his mortgage, he might have written Love in the Time of Foreclosure (http://loveinthetimeofforeclosure.blogspot.com). Instead, it’s a blog being currently written by a young woman in California describing the process of going through a foreclosure and her efforts to stay positive and keep perspective on everything. On the topic …
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