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Legal Blog

Can You File for Chapter 7 Bankruptcy in New York Without Losing Your Home and Car?

by Michael H. Schwartz
Bankruptcy lawyer sitting at desk.

People who are considering whether to file for Chapter 7 bankruptcy tend to fall into two camps. In one camp, we have those who fear that they will automatically lose their home and car during the bankruptcy process. In the …

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Deficiency Judgments After Foreclosure in New York

by Michael H. Schwartz
Foreclosure concept with toy house and lawyer with gavel.

If you fall behind on your mortgage payments, and the bank or servicer or other lending institution threatens to foreclose on your home, you should contact attorney Michael H. Schwartz as soon as possible. In his 40 years as a …

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7 Tips to Avoid a Foreclosure Sale in New York

by Michael H. Schwartz
Worried young couple received foreclosure notice.

If you start to fall behind on your mortgage payments in New York, foreclosure could be just around the corner. In other words, your lender could soon try to take possession of your home and sell it. If the sale …

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Study: Two-Thirds of Bankruptcy Filings Are Due to Medical Issues

by Michael H. Schwartz
Man computing for medical bills.

Medical issues contribute to roughly two-thirds of the country’s bankruptcy filings each year, according to a recently released study. In the view of one of the study’s authors, a lack of adequate health care insurance likely contributes to the majority …

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Report: Total Household Debt in the U.S. Reaches Record High

by Michael H. Schwartz
Young couple having debt problems on how to pay their loans.

Total personal household debt in the U.S. rose to a record-high $13.54 trillion in the last quarter of 2018, according to a report by the Federal Reserve Bank of New York. It marked the eighth straight quarter in which consumer …

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Michael H. Schwartz Asked His Legal Opinion Yet Again on an Important Bankruptcy Matter in the News.

by Michael H. Schwartz

 FiOS1 News interviewed Mr. Schwartz about the latest development in the ongoing contract dispute between Westchester County and Standard Amusements, LLC, the company that currently operates the famous but struggling Playland Amusement Park in Rye, New York. FIOS 1 …

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FICO Plans Big Shift in Credit-Score Calculations

by Michael H. Schwartz
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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Eight Retailers That Could Go Bankrupt in 2019

by Michael H. Schwartz
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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How Do I File for Chapter 13 Bankruptcy in New York?

by Michael H. Schwartz
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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10 Years After 2008 We Still Borrow More Than We Save

by Michael H. Schwartz
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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