More New York bankruptcy on the way? A New York State Comptroller’s report indicates that the income of New Yorkers has fallen by 3.1 percent, the first decline in 70 years for New York residents. The primary cause of the decline is the drop in Wall Street earnings (remember the financial crisis?) and resulting layoffs …
According to a recent post by Professor Bob Lawless on CreditSlips.org (a bankruptcy blog that features top academic minds in the bankruptcy world), 1 in every 9 bankruptcy cases in the U.S. is filed pro se. (FYI, pro se means when you represent yourself in a case rather than hire a lawyer.) And in some …
How frequently do people file for bankruptcy without a bankruptcy lawyer? Read More »
Time for another edition of Brooklyn Bankruptcy Update, a look at the latest Bankruptcy news and happenings out of the County of Kings (aka Brooklyn). “Fraudulent nursing school files for bankruptcy: Students left holding the bag at Brooklyn-based Envision Review Center Inc.“ (Crain’s New York Business) – The nursing school, located on 1894 Flatbush Avenue, …
There’s a new study out titled “Risky Business: Financial Firms Face Wave of Fraudulent Transfer Claims“ by Navigant Consulting and The Economist Intelligence Unit. The gist of it is that debtors, trustees and creditors committees are increasingly pursuing “fraudulent transfer” (aka “fraudulent conveyance“) claims (i.e., attempts to recover improper payments) in the wake of the …
“Bruce Weiner Debt Case Studies” is a new recurring feature on this blog that will summarize some of the facts in a client’s bankruptcy case. The goal is to share the kinds of real world circumstances that lead people to bankruptcy and to demonstrate how the bankruptcy process and a good bankruptcy lawyer can help. …
Bruce Weiner Debtor Case Studies: Other people’s debt Read More »
Foreclosure. Divorce. Child support. Business debts. Bad investments. The same things that led Bernie Kosar to need bankruptcy protection–first under Chapter 11 reorganization and then via a conversion to Chapter 7 liquidation–are what cause many other Americans to file for bankruptcy as well. Yet despite the number of bankruptcies filed by celebrities and other high …
Bernie Kosar bankruptcy offers lessons for average Americans facing bankruptcy Read More »
Can my employer fire me for filing for bankruptcy? Can my employer fire me based on my race? No and no. You can’t be fired based on your race. And you can’t be fired just because you’ve filed for bankruptcy. The bankruptcy laws specifically prohibit firing an employee because of a bankruptcy filing. Many people …
Can my employer fire me for filing for bankruptcy? Read More »
Time to take a look at recent bankruptcy news in Brooklyn. Brooklyn Money Manager Indicted in 30-Year Ponzi Scheme (Wall Street Journal Online) – Bay Ridge, Brooklyn-based money manager Philip Barry–aka the “Brooklyn Madoff”–was charged with securities fraud and 20 counts of mail fraud earlier this week. Star of Real Estate Boom is Confronting Hard …
How much does a bankruptcy filing affect your FICO score? We now have a better sense of the answer, though in the big picture, it may not be the right question to ask. FICO recently decided to make public some–not all, just some–of the information behind their mysterious, black-box credit scoring system. The answer to …
How much will a bankruptcy filing affect my FICO score? Read More »
A song contest might not be the first thing that comes to mind when you think of bankruptcy. But apparently, it is for the folks at the Bankruptcy Bill cartoon site. So if you have any thoughts or feelings about the topic of bankruptcy, whether from personal experience or otherwise, here’s a wonderful opportunity to …
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