When then Governor David Patterson signed into law a bill in 2011 increasing the amount of assets that a person is allowed to keep when filing bankruptcy in New York, I expressed concern that individuals living in rent-stabilized and rent-controlled apartments were in danger of having their leases...
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Pending Legislation to Make Private Student Loans Dischargeable in Bankruptcy
Currently, Americans owe more than 1.2 trillion dollars in student loans. This exceeds all other categories of consumer debt, including credit cards and auto loans. Some predict that this massive amount of student loan debt will be the next big crisis for our economy. A private student loan is a...
Justice Department Takes Courageous Step in Eliminating Discrimination
As I’ve written before, the federal government has taken swift action to ensure that same-sex couples are being treated equally under federal law, post United States v. Windsor. Prior to the decision, only opposite-sex couples were recognized by the federal government as legally married. Since then,...
Student Loans, the Next Big Crisis?
The weak economy and an uncompromising job market has led individuals to seek refuge through higher education. However, a rising cost of education and the high interest rates of private student loans has suffocated recent graduates. University graduates are unable to afford rent, housing, and...
Beware if you need to File Bankrutpcy in NY and Live In a Rent Controlled Rent or Rent Stabilized and Apartment!
Due to a quirk in the law those filing bankruptcy in New York face the real possibility of losing their rent stabilized or rent controlled apartments. I first brought this subject up in my blog entry on May 5, 2012, which you can read for more on this subject. After writing that entry I did...