Bankruptcy in the News

Study Finds Not Filing for Bankruptcy Leaves Debtors Worse Off

April 9, 2015

Although the Bankruptcy Act of 1978 introduced personal bankruptcy as a debt-relief option for Americans who had found themselves struggling under substantial consumer debt, many debtors still choose not to file for bankruptcy protection. A new study shows that decision may leave them in a more dire financial situation. The decision not to file is […]

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What You Need to Know About the Mortgage Loan Modification Process

March 23, 2015

If you’re facing foreclosure, you’re probably looking for options – and a mortgage loan modification might be one choice on the menu. In a mortgage loan modification, one or more of the requirements of a loan are changed so that the person paying the loan can more easily meet the terms. When a loan modification […]

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New York Magazine Lists Michael H. Schwartz as a Top-Rated Lawyer of 2014

February 24, 2015

Third Year in a row for the White Plains Bankruptcy Attorney Michael H. Schwartz, an established consumer bankruptcy attorney in White Plains, received recognition in a special section of New York Magazine that spotlighted “The New York Area’s Top-Rated Lawyers.” His inclusion in the Dec. 15-28 special edition marked the third straight year the publication […]

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Bankruptcy Could Provide a ‘Happy Ending’ for Operator of Local Friendly’s Restaurants

January 30, 2015

The struggling franchisee of a number of local Friendly’s restaurants – famous for their “Happy Endings” sundaes – officially filed for Chapter 11 bankruptcy protection earlier this month. Having closed the doors of its Lower Hudson Valley locations only a few months ago, this is the latest turn of events in the financial struggle of […]

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Lender’s Failure to Comply with HAMP May Provide Foreclosure Defense

January 8, 2015

The Home Affordable Modification Program (HAMP) is a government program that allows struggling homeowners to modify the terms of a mortgage to make payments more affordable, allowing them to continue to pay for the property rather than face foreclosure. The problem is that many lenders fail to comply with HAMP’s rules. As a result, some […]

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Home Affordable Modification Program Could Help You Keep Your Home

December 23, 2014

Reaching the point in life where you are finally able to buy your own home is an accomplishment. Not only is home ownership part of the American dream, but it can provide families with a sense of security and pride. Unfortunately, the housing market continues to be extremely volatile. With the fluctuating economy, many homeowners […]

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‘Lending Circles’ Can Help Members Reduce Debt and Build Credit

October 20, 2014

Individuals who have filed for bankruptcy often face a Catch-22: they need credit cards and bank loans to regain their credit rating, yet these are hard to come by for individuals whose credit is negatively affected by a bankruptcy filing. Rather than turning to predatory payday lenders and check-cashing stores, people who have filed for […]

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Bankruptcy Attorney Michael H. Schwartz Receives Recognition for Organizing U.S. Bankruptcy Judge’s Presentation to Westchester County Bar Association

September 30, 2014

WHITE PLAINS, N.Y. – Michael H. Schwartz has been recognized for his efforts as co-chair of the Westchester County Bar Association Bankruptcy & Creditors Rights Committee in organizing a continuing legal education (CLE) seminar that was headlined by a federal bankruptcy judge, the law firm of Michael H. Schwartz, P.C., announced today. Approximately 70 people […]

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New York Times, Wall Street Journal Highlight Court Victory of White Plains Consumer Bankruptcy Lawyer Michael H. Schwartz

September 29, 2014

In articles discussing the tougher stance that federal judges are taking towards banks in mortgage debt collection matters, the New York Times and the Wall Street Journal feature a case in which the law firm of Michael H. Schwartz, P.C., yet again took on Bank of America, N.A. A case in which White Plains consumer […]

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Michael H. Schwartz Obtains Court Order Sanctioning Bank of America, NA

September 28, 2014

Upon the motion filed by Michael H. Schwartz, P.C., a U.S. Bankruptcy Court finds that Bank of America, NA, repeatedly and willfully violated a New York couple’s discharge of their debt and that the violations appeared to be incorporated into the banking giant’s “business model.” The law firm of White Plains consumer bankruptcy lawyer Michael […]

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