June 21, 2019

If you own a home in Brooklyn, Queens or Staten Island and you are behind on your mortgage, please read this blog post carefully.

The Chief Judge of the Eastern District of New York Bankruptcy Court - which covers Brooklyn, Queens and Staten Island - is adopting a new rule effective July 1. Instead of simply submitting an application to the court to enter the court's loss mitigation program, your attorney will now have to file a motion explai...

May 29, 2019

From The Wall Street Journal May 10, 2019

Federal lawmakers on Thursday introduced a bill that would give student loan borrowers the power to leave that debt behind when they file for bankruptcy protection.

The proposal would enable bankrupt student loan borrowers to cancel that debt along with medical bills, credit-card debt and other payment obligations. Erasing student loans while in bankruptcy is very difficult, even for borrowers who face...

November 17, 2018

Bruce Bergman is to foreclosures what Babe Ruth is to baseball. He's the ultimate, the tops, the best. Bergman on New York Mortgage Foreclosures is the ultimate reference book for attorneys in New York practicing foreclosure defense. I'm happy to include him here as a guest blogger. This very informative article on the importance of correct personal service is from his blog on the Lexis News Room.

Foreclosure: Process Is Everything. Well, not...

October 1, 2018

Understanding how a credit report works and how it affects a family is critical in allowing families to make the right choices in dealing with their debts and other obligations. This article sets out what families in financial difficulty should know about credit reporting and their credit score. It explains what is a credit report and a credit score, at what point does non-payment affect a credit score, who sees your credit report and who do...

September 21, 2018

As a practicing bankruptcy and foreclosure attorney, I have found the publications and articles published by the National Consumer Law Center (NCLC) to be invaluable. This recent article by consumer law scholar John Rao explores the pluses and minuses of filing a bankruptcy petition and should be read by all those who are contemplating what might seem at first to be quite a traumatic decision. Attached below is a slightly abbreviated version...

August 18, 2018

Recently an almost-client, let’s call him Bob, called me looking for help. His house was being sold in a foreclosure sale the next morning, and he wanted to file a Chapter 13 bankruptcy petition to stop it. Not an uncommon situation. I’d say at least 40% of my Chapter 13’s are filed to stop an imminent foreclosure sale.  (By the way, you might ask, why file a Chapter 13 as opposed to a Chapter 7? You can exit a Chapter 13 as a matter of righ...

July 17, 2018

I find the trustee's questioning falls into four phases: 1) the mandatory preliminary questions, 2) the scary questions, 3) the "pre-recorded" final questions, and finally 4) the magic words that we all want to hear.

July 3, 2018

When I have a new bankruptcy client in my office, the first thing I will do is explain to them how bankruptcy can help them. After that, the conversation will move to how the process will actually unfold.

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