Congress has been unable to pass any legislation that would allow for effective modification of mortgages. And the HAMP program is failing miserably. Two New York unions, however, have come up with the idea that collective action through the market may get the needed results. The heads of the Transport Union Workers and the United Federation of Teachers [...]
Peter Orville, Binghamton Bankruptcy Lawyer
Gov. David Paterson has signed a bill that gives more protection to New Yorkers who file bankruptcy or who have been sued by bill collectors. The new law increases the exemptions that people can use to protect their property from forced sales by bankruptcy trustees and debt collectors. It also allows a choice between State [...]
In most cases, your attorney must continue representing you throughout your Bankruptcy case. There are some Bankruptcy Courts that allow attorneys to limit their representation to certain specific matters. Other Bankruptcy Courts require attorneys to continue to represent their bankruptcy clients even if the lawyer is not getting paid. In the Northern District of New York Bankruptcy [...]
You can modify (or cramdown) a mortgage on your residence in a Chapter 13 under current bankruptcy law if certain conditions are met. While the general rule is that you cannot modify mortgages on your home in a Chapter 13, you can if either of two separate instances exist. *1. If there is more than one mortgage on your home and the [...]
Chapter 12 Bankruptcy is a powerful tool for operators of small farms to resolve their debt problems. Farming and debt often go hand in hand. This is particularly true for New York dairy farmers. They are being paid 20 percent less for unprocessed milk than they received in 2008 – even while milk prices at [...]
It is natural to be afraid of doing something you’ve never done before, like filing for bankruptcy protection. This is especially true if you’ve heard stories about why you shouldn’t file bankruptcy. There are many myths about what will happen if you do file bankruptcy. These usually untrue myths include: *I will lose my house [...]
