Bankruptcy Archives - Page 48 of 74 - Bankruptcy Attorney in Brooklyn, New York

U.S. Trustee Program Announces $50 Million Bankruptcy Settlement With JPMorgan Chase

Bankruptcy, Creditors, Foreclosure, Mortgage / By Matt Leichter

You may recall the “robo-signing” scandal that erupted in 2010. Banks’ employees and contractors were improperly signing false mortgage or foreclosure documents and then executing them on homeowners. Apparently, some of these documents found their way into bankruptcy courts, meaning the lenders committed perjury as well. The U.S. Trustee Program, which among other responsibilities helps …

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Bankruptcy When You Are Expecting

Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Debt, Means Test / By Matt Leichter

Most people don’t think about growing their families when filing New York bankruptcy, but bringing a child into your family can add a few wrinkles to a filing that debtors might want to know about, particularly when a pregnancy happens by accident. Probably the most common place where a new child will (or won’t) affect …

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Taxes and Chapter 13 Bankruptcy

Bankruptcy, Chapter 13 Bankruptcy, Creditors, Debt / By Matt Leichter

There’s more to taxes in chapter 13 bankruptcy attorney Brooklyn NY than what I’ve written about already, tax refunds and deductions, so now is as good a time as any to discuss some of the other major topics. First on the list is how do you file your taxes while in bankruptcy? The answer for …

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Bankruptcy Courts Becoming Less Forgiving of Late Tax Returns

Bankruptcy, Creditors, Debt, Legislation / By Matt Leichter

It’s not a phenomenon that’s affected people filing New York bankruptcy yet, but it might become one in the not-so-distant future: Some federal courts in other states are ruling that tax debts that would otherwise be dischargeable are in fact not. Here’s the background. Typically, discharging a tax debt requires the debtor to meet three …

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CFPB Reports on Homeowners’ Reverse Mortgage Complaints

Bankruptcy, Creditors, Debt, Foreclosure, Mortgage, Scams / By Matt Leichter

In discussing reverse mortgages and New York bankruptcy, I demurred on whether they “work as intended.” As a brief reintroduction, a reverse mortgage gives the homeowner equity payouts over time rather than the homeowner “purchasing” equity with monthly payments. The Consumer Financial Protection Bureau (CFPB) recently issued a report that addressed the effectiveness of reverse …

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Reverse Mortgages and New York Bankruptcy

Bankruptcy, Creditors, Debt, Foreclosure, Mortgage, Scams / By Matt Leichter

A reverse mortgage is when a homeowner who owns a property free of any other mortgages and is at least 62 years old borrows money against the home’s equity. It’s “reverse” in the sense that the home’s equity decreases as the money is paid out to the homeowner instead of rising with each mortgage payment. …

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Save Money in Chapter 13 by Ferreting Out Tax Deductions From Payments

Bankruptcy, Chapter 13 Bankruptcy, Creditors, Debt, Mortgage / By Matt Leichter

Usually debtors in chapter 13 New York bankruptcy concern themselves with what happens to their tax refunds, which trustees will keep for the creditors, but there’s another way the tax code intersects with bankruptcy—but this time to the advantage of debtors: deductions. The reason tax deductions can make a difference for debtors in chapter 13 …

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5 Advantages Chapter 13 Provides to Homeowners

Bankruptcy, Chapter 13 Bankruptcy, Debt, Foreclosure, Mortgage / By Matt Leichter

So there’s research showing that filing chapter 13 New York bankruptcy may reduce mortality rates and delay or prevent foreclosure. How exactly does it accomplish this, and how can it best be used to debtors’ advantages? First of all, like other chapters, upon filing chapter 13 bankruptcy, a debtor is immediately protected by the automatic …

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4 Debts That Are Subject to Income Tax Refund Offsets

Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Creditors, Debt / By Matt Leichter

The topic of income tax refunds comes up periodically in New York bankruptcy. It’s important because in chapter 13 cases, New York trustees will demand the full refund to repay the creditors, and in chapter 7 it’s an asset that will be taken by the trustee if the debtor can’t protect it with an exemption. …

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CFPB Finds That Few Americans ‘Shop’ for Mortgages

Bankruptcy, Debt, Mortgage / By Matt Leichter

One reason people find themselves in New York bankruptcy is that the interest rates on their debts are too high, which raises their monthly payments needlessly.Hopefully this is common sense, but according to the Consumer Financial Protection Bureau (CFPB) many Americans don’t consider interest rates when buying homes. Specifically, they don’t “shop” for mortgages, often …

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