Most of the time people want to keep their cars when they’re considering New York bankruptcy. Cars are frequently necessary for commuting, running errands, going on trips out of town, etc. However, sometimes people think that surrendering a vehicle to a lender extinguishes the debt as well. It doesn’t. The situation is similar to that …
Surrendering a Car to Avoid Bankruptcy Probably Won’t Work Read More »
There are times in which a trustee’s doggedness in hunting down evidence of bankruptcy fraud should serve as a warning to debtors of the consequences of such actions. A particularly tenacious trustee in a Minnesota bankruptcy provides a striking example, as reported by the Star Tribune. Daniel Rohricht operated two jewelry stores until 2011 when …
Jeweler a Clear Example of Bankruptcy Fraud—and Trustee Tenacity Read More »
In December 2014, a New York bankruptcy court sided with debtors against Wells Fargo over some assets the bank froze. The case is noteworthy in and of itself—so more on that in a moment—but what’s interesting is that the New York Post chose to report on the story in late June. Seriously. Better late than …
NY Post Reports on Debtors’ Bankruptcy Win … Six Months Later Read More »
Some people feel discouraged from talking to a New York bankruptcy lawyer because they believe bankruptcy is something only irresponsible people do. That’s understandable, if misguided. Occasionally, however, the news provides opportunities to reassure people of the truth. For example, in April the National Bureau of Economic Research (NBER) published a paper researching “short-lived income …
A few months back I wrote that it was fair to allow the Consumer Financial Protection Bureau (CFPB) to share its two cents about reverse mortgages. It was a rebuttal of sorts to a neutral explanation I had given previously. Recently, the CFPB authored a piece on the subject again, so now it’s a little …
CFPB Finds Reverse Mortgage Advertisements Confusing and Misleading Read More »
There was a time when businesses didn’t reward their customers with points, rewards, or whatever they call them, but nowadays the typical American with any amount of purchasing power knows how they work and has probably amassed them. The question is whether the trustee can claim that they’re assets in a New York bankruptcy—or more …
Corporate Rewards, Perks, Miles, and Gift Certificates in Bankruptcy Read More »
As Americans age, they sometimes accumulate substantial assets, such as pension rights, individual retirement accounts (IRAs) and 401(k) pension accounts. They can also accumulate substantial debts, so the question becomes, how are these retirement savings treated in New York bankruptcy? The short answer is, quite charitably. But first let me establish some important points. One, …
What Happens to Retirement Accounts in Bankruptcy? Read More »
New York has taken some steps to stop student loan debt relief scams, but other states are going further. Notably, the attorney general of Illinois, Lisa Madigan, has filed additional lawsuits against student loan debt relief companies. Madigan made the news by suing two such companies in the middle of last year. Now there are …
State Actions Against Student Loan Debt Relief Scams Growing Read More »
The odyssey continues, but at least one federal court has dismissed challenges against the Department of Education’s (ED’s) “gainful employment” rule, which is set to go into effect on July 1, 2015. ED promulgated the rule to prevent for-profit colleges from abusing their students’ access to federal student loan dollars. In particular, it believed that …
Federal Court Upholds Education Department’s ‘Gainful Employment’ Rule Read More »
The wait is over for homeowners hoping to strip their underwater junior liens in chapter 7 New York bankruptcy. The U.S. Supreme Court consolidated a pair of cases, Bank of America, N.A. v. Caulkett and Bank of America, N.A. v. Toledo-Cardona, because their facts were largely the same, and it held that the answer was …
Supreme Court: No Lien-Stripping Junior Mortgages in Chapter 7 Read More »
no cost, 30 minute consultations in brooklyn, ny or melville, li
26 Court St # 2211
Brooklyn, NY 11242,USA
phone: (718) 855-6840
toll free:(800) 297-6840
fax: (718) 625-1966
68 south service road, suite 100
melville, ny 11747
phone: (631) 454-5248
by appointment only
