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Más de 1 millón de pequeñas empresas en los EE. UU. Se han visto significativamente afectadas negativamente por la crisis del coronavirus. Esta devastación económica es particularmente grave a nivel local en el área de la ciudad de Nueva York con su gran número de pequeñas empresas diversas. Desde restaurantes hasta propietarios de pequeñas tiendas…
As of April 16,2020, twenty- two million Americans are out of work and have applied for unemployment benefits. The Coronavirus crisis has hit many industries hard: restaurants, bars, airlines, hospitality, live music, sports, movie theaters. Stay at home orders and the closure of non-essential businesses have taken an enormous toll on our economy with the…
When a homeowner is served a foreclosure Summons and Complaint in New York, they only have a limited time to file an Answer with the court. The amount of time allowed by the Civil Practice Law and Rules (CPLR) to file a response to a Summons and Complaint depends on how one is served. If…
Typically, in a chapter 7 bankruptcy case, most debts are dischargeable, meaning they will not have to be paid by the debtor at the end of the bankruptcy process. Some debts are always non-dischargeable in bankruptcy, for example: debts for spousal or child support or alimony, debts for government fines and penalties, or debts that…
A common question we are often asked by potential clients is: “If I have fallen behind on my loan modification, can I get another modification?” At the Law Offices of David I. Pankin, P.C., we carefully review the four options that generally present themselves in this situation. Keep The Modification You Have Using Chapter 13…
In a case that is likely to have a broad effect on the collection activities of debt collectors in New York, the Second Circuit recently held that the Bankruptcy Code does not prevent use of the Fair Debt Collection Practices Act (FDCPA) in a claim regarding a debt that was discharged in bankruptcy proceeding. In…
If you are retired (or approaching retirement age), you do not want to have ask yourself this question: “Should I dip into my retirement account to help pay off my credit card or other debts?” When faced with this question, many Americans are too quick to withdraw money from an IRA or other retirement account…
If you have been struggling financially, how do you know when it is time to consider filing for bankruptcy? The first thing to do is to take a step back and assess your financial situation. The first thing we recommend is to conduct a review of your household budget. Carefully compare your true typical monthly…
In a bankruptcy case, the property of the debtor is classified in one of two ways: exempt property and non-exempt property. Exempt property is the property the debtor is allowed to keep, while non-exempt property can potentially be liquidated and distributed to creditors. There are exemptions for a wide variety of personal property of the…
Although it has been seven plus years it seems like there is no end in sight for the foreclosure crisis affecting New York. One question that is now frequently being asked, is whether or not lenders have filed their foreclosure lawsuits in a timely manner. There is uncertainty to both homeowners and lenders as to…
Debt settlement companies are for-profit, multi-million dollar businesses that typically promote their services as debt consolidation “programs”. Debt settlement companies sell their services by stating that they can significantly reduce their client’s credit card balances by negotiating with creditors to achieve a lump sum settlement. Typically, debt settlement companies advertise that they can save consumers…
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