Bankruptcy in the News

Filing for Bankruptcy is a Smart Move, But Avoid These Foolish Mistakes

September 2, 2015

The word “bankruptcy” may conjure feelings of dread, fear and shame in many New Yorkers – but it shouldn’t. In fact, those who file for bankruptcy do better financially than those who continue to struggle with their current debts, according to a study by the Federal Reserve Bank of New York. Bankruptcy is a move […]

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Mr. Schwartz Successfully Eliminates $282,761 of Mortgage Debt, Reduces Interest Rate, and Eliminates Second Mortgage Entirely

July 14, 2015

In the latest of a long line of successful mortgage modifications, Michael H. Schwartz has been awarded the highest hourly rate ever in a mortgage modification by Chief Judge Cecilia G. Morris, United States Bankruptcy Court. The fees will be paid by the lender and other creditors at no cost to the borrower. In awarding […]

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Report Finds Older Americans Suffer More Abuse from Debt Collectors

July 6, 2015

Older individuals face more harassment and abuse from debt collectors, on average, than younger individuals do, according to a recent report released by the Consumer Financial Protection Bureau (CFPB). The researchers found that older Americans are more likely to be subjected to legally prohibited forms of harassment as well. The report examines complaints filed with […]

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5 Easy Tips to Help You Purchase a Car With a Low Credit Score

July 1, 2015

If your financial situation is such that you are considering bankruptcy or have recently filed for bankruptcy, chances are good that your credit score has slipped. That one little number can have a big impact on your ability to get a car loan. Bankruptcy can ultimately help you get a fresh start on your financial […]

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A Behind-the-Scenes Peek at What Really Takes Place in Debt Collection

June 2, 2015

The U.S. has 50 states, about 320 million people – and about 369,000 debt collectors, according to the Bureau of Labor Statistics (BLS). That’s an average of about one debt collector for every 870 people, and the number of debt collectors is only expected to grow, according to the BLS. For the 1 in 3 […]

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Chase Sanctioned for Failure to Comply with Loan Modification in Bankruptcy Case Handled by White Plains Attorney Michael H. Schwartz

May 4, 2015

WHITE PLAINS, NY, May 02, 2015 — JP Morgan Chase Bank, N.A., has been ordered to pay $16,000 as damages after the bank failed to comply with a U.S. Bankruptcy Court order that modified the terms of a mortgage loan held by the clients of Michael H. Schwartz, the White Plains consumer bankruptcy and foreclosure […]

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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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