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Legal Blog

May 14, 2019 | by Michael H. Schwartz, P.C.

FICO Plans Big Shift in Credit-Score Calculations

Businessman checking on credit score on his laptop.

The Fair Isaac Corporation, the company that developed the FICO score, is rolling out a new credit score this year called “UltraFICO.” Experian, one of the three major credit reporting agencies, will distribute the credit score, according to USA Today. …

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March 7, 2019 | by Michael H. Schwartz, P.C.

Eight Retailers That Could Go Bankrupt in 2019

Retail store closing due to bankruptcy.

What do Radio Shack, Toys “R” Us, and Circuit City all have in common? They all failed to keep pace in a high-tech consumer marketplace and recently went out of business. In 2019, several other major retailers are on the …

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January 18, 2019 | by Michael H. Schwartz, P.C.

How Do I File for Chapter 13 Bankruptcy in New York?

Worried man consulting his bankruptcy attorney.

Call us first!  Michael H. Schwartz has been successfully helping people throughout Westchester County, Rockland County, Putnam County, the Hudson Valley and New York City area file for Chapter 13 bankruptcy protection for more than 40 years.  We are second …

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December 3, 2018 | by Michael H. Schwartz, P.C.

10 Years After 2008 We Still Borrow More Than We Save

Woman holding her passbook is stressed over her unpaid debts.

In 2008, the housing market collapsed. The Great Recession began as this collapse created a tsunami effect throughout the entire American economy. In an eerie and very similar parallel to what happened in the 1920s that caused the stock market …

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November 2, 2018 | by Michael H. Schwartz, P.C.

Number of Older Americans Filing for Bankruptcy Has Tripled Since 1991

Sad old man filing for bankruptcy.

Bankruptcy rates have tripled among older Americans since the early 1990s, according to a recent article in the New York Times. The number of people age 65 and over who are filing for bankruptcy has tripled since 1991. From February …

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October 3, 2018 | by Michael H. Schwartz, P.C.

Are there Pros and Cons to a Mortgage Loan Modification in New York?

Mortgage loan modification form with eyeglasses on top.

Applying for a mortgage loan modification is a big decision that could have significant implications for your family’s financial future. When you are considering your options for getting your finances back on track, it is best to take stock of …

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September 5, 2018 | by Michael H. Schwartz, P.C.

In New York, How Many Times Can I Modify My Mortgage?

Two men discussing mortgage loan modification.

For struggling homeowners, getting a mortgage loan modification can at first seem like a lifeline. Unfortunately for some, however, even the new, modified rate might be too much to pay, especially if further financial disaster strikes later on. I’m sure …

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August 1, 2018 | by Michael H. Schwartz, P.C.

Suicide is not the Answer to Financial Pressure & Issues

Man is feeling depressed on financial pressure.

With suicide rates on the rise* nationwide, it seems appropriate to stop for a moment and talk about this problem and what we can do about it. The warning signs of someone having suicidal thoughts can be hard to discern, …

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July 11, 2018 | by Michael H. Schwartz, P.C.

What Is the Difference Between a Loan Modification and Refinancing?

Woman staring at the loan modification form.

If you are struggling to make your monthly mortgage payments, there are options available to you. While many people are familiar with the concept of refinancing their home, some are not aware that they might also be able to modify …

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June 20, 2018 | by Michael H. Schwartz, P.C.

What Is a Loan Modification and How Does It Work?

Woman watching on her monitor the mortgage loan modification form.

In simple terms, a loan modification is just like it sounds. It is a negotiation with your mortgage lender to create a new agreement that modifies the original terms of your mortgage. If you have a long-term inability to pay …

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