What Are the New Rules on Debt Collection?
On November 30, 2021, the Consumer Financial Protection Bureau (CFPB) issued 2 new rules under the Fair Debt Collection Practices Act (FDCPA). The new debt collection rules cover modern communication strategies like email, text messages, and social media. Now, debt collectors cannot only call you and contact...
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The Truth About How Bankruptcy Affects Your Credit Score
There are a lot of misconceptions regarding the impact bankruptcy may have on one’s credit score, which is why so many are often hesitant to opt for this choice. However, filing for bankruptcy is not the end of the world. Instead, it is an effective way for those who are struggling with...
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Does Mounting Medical Debt Have You Considering Bankruptcy?
When a medical emergency strikes, your health and safety is the top priority—as it should be. Unfortunately, cost of treatment can range wildly depending on the condition and can quickly pile up—especially if your medical issue has also led to a loss of income or a drop in usable credit. If medical...
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New York Foreclosure Protections Extended into January 2022
If you’re a homeowner and facing foreclosure because of COVID-19, keep reading! On Sept. 2, New York Governor Kathy Hochule signed into law a new moratorium on pandemic-related residential and commercial foreclosures and evictions. This means that the deadline before foreclosure and eviction cases can proceed is now Jan....
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6 Reasons Why You Shouldn’t Wait to File Bankruptcy
In the wake of COVID-19, individuals, families, and businesses across the United States are struggling to make ends meet. After mass layoffs, forced closures of stores and restaurants, stay-at-home orders, and, of course, staggering medical expenses, millions of people are leaning on state and federal assistance simply to pay the bills and...
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Why You Should Consider Chapter 7 Bankruptcy If You Lost Your Job During COVID-19
How a Loss of Income Can Open You to Chapter 7 Bankruptcy Protections The COVID-19 pandemic has unfortunately ravaged the United States economy and continues to restrict what types of businesses can normally operate, resulting in record unemployment and unprecedented layoffs across numerous industries. Losing a job in...
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Attorney Rob Solomon Quoted in Newsday Article
A recent article by Newsday featured Attorney Rob Solomon, who discussed possible reasons behind the low rate of business bankruptcies in Long Island. In light of COVID-19 and its economic ramifications, many have expected bankruptcies to increase substantially as both consumers and businesses struggle with stay-at-home orders, business...
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CARES Act Makes Pivotal Adjustments to Bankruptcy Code
Financial Support for Businesses and Individuals During COVID-19 Local, state, and federal governments are scrambling to provide financial support to individuals and businesses amidst the COVID-19 pandemic. The most notable legislation is the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law by...
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A lawyer managed to get own his massive, years-old student debt thrown out in New York bankruptcy court this week, after he was able to prove the burden was so huge he could never afford to pay it. The ruling potentially has huge implications for others suffering under crushing...
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Using Secured Credit Cards to Rebuild Your Credit Following a Bankruptcy
How Do Secured Credit Cards Work? The New York Times recently wrote about the value of secured credit cards for those with poor credit. A secured credit card requires a cash deposit to “secure” the line of credit and allows users to make purchases up to...
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Should I Declare Bankruptcy if I Can’t Pay My Student Loans?
Knowing what your options are when filing for student loan discharge is important. Discover your options when your student loans are becoming too much to handle. Declaring Bankruptcy If You Can’t Pay Your Student Loans Generally speaking, student loans cannot be discharged in bankruptcy, but...
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How Does Bankruptcy Affect my Credit Score?
Although bankruptcy can stay on your credit for up to 10 years, it is never too early to try and rebuild it. Ways Bankruptcy Affects Your Credit Score One of the main reasons people hesitate to file for bankruptcy is because of the effect it...
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