By JESSICA SILVER-GREENBERG The dentist set to work, tapping and probing, then put down his tools and delivered the news. His patient, Patricia Gannon, needed a partial denture. The cost: more than $5,700. Ms. Gannon, 78, was staggered. She said she could not afford it. And her insurance would pay only a small portion. But […]
Seniors: Be on High Alert for Scams
I look forward to the day when we no longer need to warn senior citizens about scams designed to separate them from their hard-earned money. I’m not holding my breath, however. According to the FBI, senior citizens make attractive targets for con artists for a variety of reasons: They’re more likely to have a nest […]
Why You Shouldn’t Reaffirm a Mortgage in Bankruptcy
I recently got a phone call from a client. She got a letter from her mortgage company giving her the “opportunity” to reaffirm her mortgage. She wanted to know whether she should do this. I told her, “Absolutely not.” In the overwhelming majority of cases, it makes absolutely no sense to reaffirm a mortgage debt. […]
Auto Leases Entice, but They’re Still Costly
Robert Neubecker By TARA SIEGEL BERNARD When you can drive a car off the lot with that new car smell for a mere $199- or $299-a month-lease, many consumers can’t help asking: How can I afford not to take this deal? After all, if your family is already paying for cable television and a couple […]
Prior Tax Debt Could Burden a Debtor Post-Discharge
A recent case has left a debtor who has received a discharge pursuant to a Chapter 13 plan saddled with a significant amount of old tax debt. The Bankruptcy Court recently dismissed a debtors complaint and held that their tax debt was unaffected by the bankruptcy because “the lien was not addressed and treated in […]
Your Kids And Money: Teaching The Value Of A Dollar
Originally posted by NPR What’s the point of an allowance? For Ron Lieber, personal finance writer for The New York Times, it’s a tool to help teach values and character traits like patience, moderation, thrift and generosity. And Lieber, who’s writing a book, , about kids, money and values, tells Morning Edition host Steve Inskeep […]
Significant Damages for a Violation of the Automatic Stay and Discharge Injunction
In a recent case in the Third Circuit the Bankruptcy Court ordered Commonwealth Financial Systems (CFS) to pay damages in the amount of $88,480 for violating an automatic stay and discharge injunction. 4 Years prior to the debtors filing for Chapter 7 Bankruptcy, CFS obtained a judgment for the amount of $23,307.49 against her. Following […]
Relief From Student Loan Debt for Public Service Workers
Jim Winn for The New York Times Travis and Stephanie Gay are special education teachers who participated in a state debt forgiveness program. By ANN CARRNS Published: September 10, 2013 in The New York Times Raha Wala, a 30-year-old lawyer for an international human rights organization, is facing $200,000 in student loan debt. But if […]
Tighter Rules Will Make It Harder to Get a Reverse Mortgage
Originally published here by The New York Times. By TARA SIEGEL BERNARD Published: September 6, 2013 The spigot on reverse mortgages has been slowly tightened over the last several years. Borrowers can no longer tap as much of their home equity as they could before the housing crisis. Now the rules are about to change […]
Undue Hardship and the Discharge of Student Loans
Earlier this year a Wisconsin Bankruptcy Court decided that debtor Bradley A. Mhyre was entitled to have his student loans discharged in bankruptcy under the Brunner Test for determining undue hardship. In 1994 Mhyre sustained a neck injury that left him paralyzed from the chest down leaving him limited use of his shoulders and arms. […]