If you listen to the collections industry, credit card companies have started employing a lighter touch when it comes to debt collection. An article on CollectionsAndCreditRisk.com says that this strategy is an attempt by the credit card industry to mitigate its losses. However, based on everything I hear from my clients, such genteel behavior by …
Credit Card Debt Collectors: Honey? Or more vinegar? Read More »
Grim economic news continues to pour forth. CBS News’ website has an articled titled “The Coming Foreclosure and Commercial Real Estate Storms.” You thought we were already in the middle of the foreclosure crisis? Well apparently there’s more to come. From the banks’ point of view, the longer they keep you on the hook, the …
Bankruptcy Bill has a unique post out today that lists the bankruptcy lawyer for each of the many celebrities who have filed for bankruptcy. And apparently I’m on the top of the list in its current form. While I appreciate the additional visibility for my own practice, I think “celebrity bankruptcies” underscore the fact that …
I’ve previously warned against working with debt settlement companies on the basis that many of them are scams and just take advantage of people. However, here’s one more reason to be wary of debt settlement companies: 1099-C…. the tax document you receive signifying income when a debt is forgiven. If you negotiate a settlement so …
1099-C and Forgiveness of Debt: Another reason to be wary of debt settlement companies Read More »
The latest unemployment news is out and it ain’t good. Economists were predicting a drop in unemployment claims. But instead the Department of Labor’s report showed an increase in the number of first-time filings for state unemployment benefits. What does this mean from a bankruptcy perspective for New Yorkers? Conventional wisdom says that bankruptcy filings …
Unemployment Update: Jobless claims up and bankruptcy to follow in New York Read More »
My friend and fellow bankruptcy lawyer David Leibowitz who practices in Illinois and Wisconsin has a very helpful post titled “Who is the United States Trustee?” where he really does a nice job of explaining it all. The main point is that the trustee is not a judge, but he or she makes decisions that …
There’s a good post today titled “Dykstra Mansion on the Market for $14.9 Million” on the WSJ’s Bankruptcy Beat. A couple points worth noting about Dykstra’s approach to home care for a property he originally tried to sell for $25 million: “The home was littered throughout with empty beer bottles, trash, dog feces and urine …
Having trouble selling your home? Don’t do a Lenny Dykstra. Read More »
Bankruptcy Bill and his pal Struck Finn continue their fantasy-football-applied-to-bankruptcy conversation. Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. Click here to see a larger version of the image. If you’re facing bankruptcy issues, have questions about bankruptcy or are considering filing for bankruptcy …
Bankruptcy Bill takes on Fantasy Bankruptcy again Read More »
Bankruptcy Bill reveals how big firm bankruptcy lawyers employ the fantasy football concept for their own entertainment. Note: This cartoon is posted on NYBankruptcyNet with permission from the creators of Bankruptcy Bill. Click here to see larger version of image. Go to Bankruptcy Attorney Brooklyn NY to learn more about Rosenberg Musso & Weiner LLP and/or to …
Bankruptcy Bill and fantasy football…er, bankruptcy Read More »
ABC News reports that Annie Leibovitz reached an agreement with her creditors that, at least for now, staves off the need for a bankruptcy filing. What if Annie Leibovitz had filed for bankruptcy in New York? Would she have to go through mandatory credit counseling (cost: $50) as required by the 2005 Bankruptcy Abuse Prevention …
Annie Leibovitz avoids mandatory credit counseling in New York Read More »
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