The brilliant legislators in Iraq are considering a new law with regard to marriages. The new law would allow girls as young as nine years of age to be married. It would also place requirements on wives to submit to sex on demand by their husbands. These laws have been presented to cover the Shia portion of Iraq's society. Hana Adwar, who is a well … [Read more...]
Student Loan Considered A Special Circumstance Under Chapter 7 Bankruptcy
A bankruptcy Judge in the Western District of New York found a debtor's non-dischargeable student loan constituted "a special circumstance" under the Bankruptcy Law. A special circumstance could overcome the statutory presumption of abuse upon filing bankruptcy. This special circumstance would allow the student loan to be discharged in … [Read more...]
New York Debt Collection Proposals
Financial regulators in New York State have recently proposed sweeping new reforms concerning debt collection practices. There have been more than 13,000 complaints filed against debt collection agencies in the State of New York within the past two years. Debt collection companies sometimes buy defaulted debts for a few cents on the dollar and … [Read more...]
Strategic Defaults
Walking Away From Your House Strategic default is the new concept in how homeowners are dealing with mortgages on homes that are underwater. A strategic default is simply when you stop paying your mortgages . Many homeowners are considering strategic defaults on their mortgages. It is estimated that over eleven million homes are now underwater … [Read more...]
How To Deal With Student Debt?
Students have been borrowing more and more money in recent years to pay for college expenses. Due to the downturn in the economy, many students have been unsuccessful in finding employment upon graduation. Even those who find employment often have difficulty paying off their student loans. Filing for bankruptcy can help with problems involving … [Read more...]
Congress Should Help Homeowners
The federal government has bailed Wall Street firms out to the tune of $700,000,000.00. This is a form of corporate welfare. The restructuring was done to prevent large Wall Street firms from going bankrupt. Instead of amending the Bankruptcy Law to help these Wall Street firms, the government simply gave them $700,000,000.00 in loans. Recently, … [Read more...]
Foreclosure Rates Going Up in 2010
Projections have been made that there will be as many as 3,000,000 foreclosures in the United States in 2010. This will surpass the foreclosure rate for 2009. The United States Treasury Department has been in negotiations with many of the country's largest financial institutions regarding their participation in a new second mortgage program … [Read more...]
Foreclosure – Don’t Give Up – You Can Fight
Many Americans unfortunately find themselves having difficulty paying their mortgages. When a family falls behind on their mortgage payments, there are a number of ways to deal with the situation. Houses go into foreclosure for a variety of reasons. Loss of employment, divorce, injuries, illnesses and disabilities. In this situation, you have a … [Read more...]
Supreme Court Considers Congress’ Attempt to Regulate Attorney/Client Relationship
The Supreme Court heard arguments on Monday in the case of Milavetz, Gallop & Milavetz v. the United States. The specifics of the case were discussed in a series of articles in the New York Law Journal Monday and yesterday by Marcia Coyle. The Milavetz & Gallop firm, based outside Minneapolis, Minnesota, along with some of their clients, … [Read more...]
Frequent Questions About How Bankruptcy Affects Others and Rebuilding Credit
As readers know, our office has a significant bankruptcy practice (more bankruptcy information is available there). I addition to the issues Mr. Schlissel addressed yesterday, below are some more frequently asked questions and Mr. Schlissel’s answers. For help with Bankruptcy, or any other matter, you can always contact our office . Q: How does … [Read more...]
