Clients ask me every day “Can I modify my mortgage in chapter 13?” Unfortunately, the answer is “Not yet if you’re thinking about your home.” The House of Representatives voted in favor of mortgage modifications in chapter 13. But the Senate has not even considered the same bill, S 61 in the Senate. We think [...]
March 2009
I must admit that I am not a fan of info-mercials. I see the hawksters, the promotions on the television and while I might want to buy the “ShamWow” (now, that guy Vince is a salesman), I usually flip straight through the channels to get to the show of the evening. I have been seeing Kevin [...]
A proof of claim is an official document filed by a creditor in your bankruptcy case demonstrating to the court that the creditor is entitled to payment. Filing a proof of claim in a bankruptcy case is critical if a creditor wants to be paid anything. Typically, for most consumer debtors, proofs of claim are not filed [...]
Many homeowners are surprised to learn, usually after their home has been flooded, that their homeowners’ insurance policy does not cover damage caused during a flood.  You must look to your flood insurance for coverage (National Flood Insurance Program).  And, according to FEMA (the Federal Emergency Management Agency), 90 percent of all natural disasters in the nation involve [...]
Many people surrender their homes to their lenders when they file for bankruptcy but as long as the property is titled to them, they may have some risk if someone is hurt on the property. As long as the property is in your name, your homeowner’s insurance would protect you from liability. It may [...]
Has your credit card, personal loan or other debt been sold from the original creditor to a new debt buyer? Up to now, New York consumers have been faced with confusion when it came to deciphering the names of companies who bought their debts. Companies like Erin Capital Management, LR Credit and others would mysteriously [...]
