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- Defaulted Federal Student Loans and Tax Offsets
When a person stops making payments on student loans, the Department of Education may take action to collect on this debt. One method is to try to initiate a tax offset to recuperate some of the money owed.
- Mortgage Companies Win in the Supreme Court
Recently, on June 1, 2015, the United States Supreme Court decided the case of Bank of America v. Caulkett.
- Things to Consider when Selling Assets before Filing Bankruptcy
by Dave Falvey
Many debtors try to sell off at least some off their assets in order to have money to pay their creditors and to live but there are risks in selling off assets too. This is because assets are supposed to be used to pay off your creditors and not favor one creditor over another unreasonably.
- What Are the Laws Regarding Check Cashing and Payday Advances?
Almost everyone has, at one time or another, come up just a little short when they needed to pay a bill or meet some other financial obligation. For many, services like check cashing and payday advances can be one way to deal with this dilemma, but they come with hefty fees and other considerations. So, what are the laws regarding check cashing and payday advances?
- Car Repossession Laws
Most people who own a car rely on it for getting virtually everywhere they need to go. That may include school, church, the store, or to pick up the kids; but for most, it primarily includes work. Thus, when you are late on your car payments, it may seem terribly ironic that the bank wants to deprive you of the means of getting to work to pay them back faster, but that is exactly what could happen.
- How Do I Declare Bankruptcy?
Let's face it, bankruptcy is a scary concept. It entails doing something that will erase portions of your debt, restructure other parts, and appear as a black mark on a credit report for seven to ten years. Still, there may be times when it is wisest to simply throw in the towel and get a fresh start. Thus, when it is necessary to do so, how do you declare bankruptcy?
- New York Zombie Foreclosures On the Rise
According to RealtyTrac, there were 16,700 zombie foreclosures in New York in 2014. That number has since risen by 54 percent. These homes are often the houses that bring a neighborhood's value down; the houses with unkempt lawns and boarded-up windows that are easy to ignore and forget.
- Alternatives to Foreclosure: Six Options
What are the alternatives to foreclosure? Falling behind on your mortgage payments is extremely stressful. You toss and turn at night, imagining losing your house. But there is hope. Even if you've defaulted on your mortgage, you may be able to find an alternative foreclosure which will allow you to keep your home should you desire to do so.
- Mortgages After Bankruptcy in New York
Credit card debt. Bills piling up. Filing for bankruptcy. Bankruptcy proceedings. Destroyed credit. Foreclosure. All of these things can take a toll on a person, not just financially, but emotionally and legally. Though some might view bankruptcy as an admission of failure, bankruptcy is actually an opportunity.
- New Proposals for Chapter 11 Bankruptcy from the American Business Institute
This year, Chapter 11 bankruptcy is getting an overhaul. These changes are designed to make filing for Chapter 11 bankruptcy easier for businesses.