Mortgage Forgiveness Debt Relief Act (Addendum)
Forgiveness of Mortgage Debt – Tax Implications In a previous post, nearly two years ago, we discussed the extension of the federal law that provided a huge benefit to homeowners… Read more >
Articles and News
Bankruptcy Basics – Chapter 7, Chapter 13
A debtor faced with a foreclosure, lawsuit or wage/asset levy may, despite these troubles, still be apprehensive about filing for bankruptcy. Potential bankruptcy filers may be advised to file a… Read more >
End of HAMP (Home Affordable Modification Program)
The government-established and monitored modification program known as HAMP (Home Affordable Modification Program) ended somewhat quietly at the end of last year for applications submitted in the new year or… Read more >
Student Loan Debt and Bankruptcy
In an opinion by the Chief United States Bankruptcy Judge Carla E. Craig, the United States Bankruptcy Court for the Eastern District of New York ruled that a loan taken… Read more >
FDCPA actions after bankruptcy
The U.S. Court of Appeals for the Second Circuit (the Circuit in which New York resides) ruled recently that a claim for wrongful debt collection practices may be maintained in… Read more >
Why (not to) fear bankruptcy?
Lawyers are trained to argue two sides of any position. So an argument can be made that bankruptcy is both to be feared and not to be. Potential clients visit… Read more >
Mortgage Forgiveness Debt Relief Act – Extended
Property owners working on short sales or other workout options are ordinarily subject to potential income tax upon the cancellation of debt related to the property, which is classified as… Read more >
Important Bankruptcy Cases
Discharge Exception, Fraud Bartenwerfer v. Buckley, Slip Op. 2022 October Term Docket 21-908 The United States Supreme Court issued an important ruling pertaining to the fraud exception to a debtor’s… Read more >
Bankruptcy Primer
Bankruptcy has a long and history in the United States. The evolved bankruptcy system begins with a set of mostly federal statutes (laws passed by Congress); rules of bankruptcy procedure;… Read more >