As the “Great Recession” stampedes into the future, full recovery seems to be a long way off. In talking with friends, colleagues and clients, it is clear that the job market is tight right now. Many people who are working feel grateful and realize the fragile nature of employment in the current economy. These feelings
Client Responsibilities in Bankruptcy
Perhaps more than any other area of law, bankruptcy is truly a collaborative effort between the client and the lawyer. While the quality of the lawyer is clearly important, the quality of the client is all too often overlooked. Yes, you hire your lawyer to advise you, prepare your petition and ultimately secure your discharge.
How Chapter 13 Bankruptcy Can Resolve Your Foreclosure
As we head into the dog days of Summer, it seems that mortgage banks are starting to ramp up foreclosures. There is more pressure than ever on distressed homeowners. An interactive map provided by Newsday shows the breakdown of Long Island foreclosures by community and percentage. Of course, the housing crisis is not specific to
Breaking the Bankruptcy Law is a Serious Matter
Filing for bankruptcy is not just filling out some forms to submit to court. Unfortunately, this is the perspective that some people have. Not respecting the process can have dire consequences. The dismissal of your case is financially troubling, however, depending on your actions, there could be even worse outcomes. Fraud, Concealment of assets and/or
Reduce Student Loans, Move to Niagra Falls
Sure, at first glance the title to this post may be confusing, but believe it or not, it’s actually true. This has not received much coverage, but this somewhat depressed New York community is offering a very charming incentive. If you have substantial student loan debt, you may want to consider moving to Niagra Falls.
Extending Reduced Student Loan Interest Rates and the Dirty Secret
As June 30, 2012 approaches, Congress is working out the kinks and trying to extend Federal subsidies to keep Federal Stafford Loan interest rates from doubling. In 2006, interest rates on these Federal loans were gradually cut back to the current rate of 3.4%. If an extension of this measure is not reached by June
Financially Adrift and Lost on Long Island
This post is more personal than professional and hits very close to home for me. As a life-long “Long Islander,” I have watched the community change before my eyes these past few years. The “Great Recession” has hit Long Island extremely hard. Unemployment, empty storefronts and foreclosures are now part of our daily existence
Wage Garnishment: Understanding This Intrusive Remedy
In many cases, wage garnishment is the straw that breaks the camel’s back. Individuals on the fence about filing bankruptcy are forced to when a wage garnishment is instituted. I would argue that if it gets to the point of wage garnishment, you have already waited too long. What is this intrusive remedy? How is
Affording Bankruptcy: Are You Too Broke To File?
While this may seem like a very strange question, it is one that is being raised recently. Given the current economic climate, however, it is a good one. But you have to be broke to file for bankruptcy right? Wrong! Most people that file bankruptcy are hard working, middle class individuals. They are unable to
The Bankruptcy Process: Discharge and Your Fresh Start
The Finish Line You have attended the Meeting of Creditors and assuming the trustee closed your case, you are almost home. You have completed all post-filing requirements including the debtor education course. At this point your discharge is right around the corner and your fresh start awaits. What is the Bankruptcy Discharge? The “Discharge” is