Bankruptcy in the News

‘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 […]

Read More

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 […]

Read More

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 […]

Read More

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 […]

Read More

Could Filing for Bankruptcy Help You Keep Your Home?

August 26, 2014

Homeowners at risk of losing their house to foreclosure may be able to keep it by filing for bankruptcy. Although not a cure-all, bankruptcy – in particular Chapter 13 bankruptcy – may buy homeowners extra time to reorganize their finances and catch up with late mortgage payments. A new study by the University of North […]

Read More

Inherited IRAs Not Safe From Creditors in Bankruptcy Cases, Supreme Court Rules

July 17, 2014

For many years, individual retirement accounts (IRAs) have been protected from the grasp of creditors during bankruptcy proceedings. While the owners of IRAs still enjoy this protection, the U.S. Supreme Court recently ruled that the protection does not extend to those who inherit an IRA from someone other than a spouse – making bankruptcy proceedings […]

Read More

Consumer Group Warns Student Loan Borrowers About ‘Auto-Default’ Clauses

May 19, 2014

Very few college or graduate students can pay for their education without some sort of financial assistance. While many take out student loans through federal programs such as Sallie-Mae, many more take out private loans to finance their studies. Private loans generally require a co-signer because most students simply can’t qualify on their own. In […]

Read More

Hot Off the Press: Loan Servicers Must Make “Good Faith Effort” To Keep Homeowners Out Of Foreclosure

April 30, 2014

While the economic downturn affected everyone, some homeowners had a particularly tough time as they saw their mortgages sold from one company to another and discovered promises made by one lender not being honored by the next.  The result was a large number of foreclosures, many of which could have been avoided. However, that’s about […]

Read More

Is Toasted Sub Maker Quiznos – Toast?

March 7, 2014

Quiznos, the sub-maker who tried – and succeeded – to differentiate itself from Subway by toasting its sandwiches, may now be toast itself.  With over $600 million in debt and numerous franchise issues, Quiznos may find itself in Chapter 11 bankruptcy in order to reorganize its debt structure and operations. Everyone Once Wanted a Toasted […]

Read More

Mortgage Tax Break Ends: More Distressed Homeowners Likely To File For Bankruptcy

February 28, 2014

Congress reacted to the housing market crash several years ago by enacting a law that gave homeowners a break on their taxes.  However, that law recently expired.  Although a bill to extend the tax break had bipartisan support in Congress, it was allowed to expire at the end of 2013. That will likely cause more […]

Read More
More Results »