Its very commonplace for a client to visit a bankruptcy attorney. when he or she is about to be garnished by the employer. The client ultimately files a Chapter 7 and wipes out all of his dischargeable debt, generally credit cards, loans and credit card bills. How about the garnishment monies taken prior to the […]

There are many reasons why you might need to filing a Chapter 7 or Chapter 13 bankruptcy a second time; but, you need to know the rules of the road with the help of a knowledgeable and solid bankruptcy attorney. 2 Year Rule This applies when you have successfully completed a Chapter 13 (you received […]

If you have completed a short sale during 2015 or are contemplating a short sale in 2016, there is good news. The Mortgage Forgiveness Debt Relief Act recently passed by Congress in December and signed into law by President Obama forgives any cancellation of debt in both 2015 and now in 2016 as a result […]

Effective December 1, 2015, the bankruptcy forms get a serious overhaul. In an effort to simplify the forms and provide an easier forum for pro se debtors (debtors filing without the benefit of an attorney) to file a bankruptcy, the forms underwent major revisions. However, as they say, the best of plans are often led […]

It is commonly asked by prospective bankruptcy clients if they will be able to keep their primary residence while filing a Chapter 7 or in the alternative whether they need to do a Chapter 13 to accomplish the same. So much depends upon the value of the property, the mortgage payoff(s), and the exemption permissible […]

A recently released study by Cristy L. Romera, as reported in the New York Times, charged by the government to monitor the progress of government loan modifications, has announced that 72 percent of applications by borrowers have been rejected. Citibank, Chase, Bank of America and Wells Fargo, are amongst the worst offenders. Their percentage rejection […]

Individuals who are seriously delinquent with their mortgage payments or for those who have actually received that thick packet of foreclosure papers have one very important concern. They want to know how long they have to live in their house before they am thrown out. In New York it takes an average of over 900 […]

For years many lenders have started foreclosure actions but have failed to conclude the legal matter. Some foreclosure defense attorneys are using the statute of limitations as a defense for which six years may have elapsed since the mortgage lender has declared the loan immediately due and payable, also known as acceleration. The New York […]

The federal agency responsible for monitoring the banking industry, The Consumer Financial Protection Bureau, is proposing new rules to protect the American public from some of the unscrupulous lending practices of the payday lenders. The Agency is trying to find the right balance between predatory lending and the free flow of credit for people in […]

Experian, Equifax, and Transunion have come to terms with New York’s Attorney General’s office concerning the reporting of debt to its bureaus. The agencies will be required to hire specialists to handle consumer disagreements when a complaint has not been successfully resolved. It will no longer be enough to discount a consumer allegation of wrongful […]