Jeffrey M. Rosenblum, P.C.
A Fresh Start

January 2015 Archives

After a bankruptcy discharge in New York

People who file bankruptcy in New York often have questions about what can happen after the estate is closed and their debts are discharged. The bankruptcy discharge serves as a statutory injunction prohibiting any further action on the part of a creditor to seek repayment of the debt in question.

Important issues to understand about bankruptcy

Bankruptcy is an issue that can affect individuals from all walks of life in New York, and misinformation can be one of the biggest challenges in regaining your financial footing if you are considering this route. You may view bankruptcy as a negative event because of its potential impact on your credit score, or you may think that you will only be further bogged down with financial issues because of a bankruptcy. While bankruptcy is not always the ideal solution, there are instances in which it may be an excellent option.

The legal implications of filing Chapter 13 Bankruptcy

Residents of New York may not realize how Chapter 13 bankruptcy pertains to an existing mortgage. During this process, certain legal rights exist to protect the homeowner from a lender being able to initiate a foreclosure, provided that the three or five-year payment plan that was established in court is not neglected. In addition to the payment plan that takes the homeowner's financial abilities and total debts into account, the individual is also responsible for paying the monthly mortgage amount as well. If these payments are not made, the lender may be legally allowed to initiate the foreclosure process.

What can be done to stop debt collectors from contacting me?

Constant contact from debt collectors can be frustrating or even frightening to people in New York. Because of abusive practices collectors have utilized, their actions are regulated by the Fair Debt Collections Practices Act, a federal law that prohibits certain abusive practices and outlines what collectors may and may not do.

What can be done to stop debt collectors from contacting me?

Residents of New York may be interested to know that there is some protection against debt collection that is enforced by the Federal Trade Commission. Under the Fair Debt Collection Practices Act, debt collectors are restricted from harassing a debtor.