Articles from Shenwick & Associates

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New York Post: NYC is the most financially distressed city in the nation

Submitted by Anonymous (not verified) on Mon, 01/28/2019 - 20:48

By John Aidan Byrne

New York City is officially the most financially distressed metropolis in America, according to local debt counselors and financial analysts.

The city’s credit card delinquency rates and level of bad personal debt are the highest in the nation, which saw household debt and credit soar by $219 billion, or 1.6 percent, to $13.51 trillion, in the third quarter of 2018 — a record $837 billion more than its previous peak in 2008.

Patch: Shaky Taxi Industry Saw Foreclosures Spike Tenfold Last Year

Submitted by Anonymous (not verified) on Thu, 01/24/2019 - 20:17

By Noah Manskar, Patch Staff

NEW YORK — New York City's turbulent taxi industry saw a massive spike in foreclosure sales last year as drivers struggled to make ends meet and some took their own lives, records show.

Quartz: Now we know the average American’s credit card balance

Submitted by Anonymous (not verified) on Tue, 01/22/2019 - 18:10

People in the US hold over $1 trillion in credit card debt. Credit cards are the most essential source of day-to-day financing for millions of Americans. Yet little is known about the true demographics of who owns credit cards, how much they charge on them, and whether they pay their balances on time.

Bankruptcy trustee "claw back" of college tuition payments

Submitted by Anonymous (not verified) on Mon, 01/21/2019 - 20:30

Here at Shenwick & Associates, one of our goals when a client files for bankruptcy is to flag potential issues that may complicate their bankruptcy filing.  One of those potential issues is an action by the chapter 7 bankruptcy trustee to recover fraudulent conveyances.

An overview of the chapter 7 bankruptcy process

Submitted by Anonymous (not verified) on Wed, 01/09/2019 - 21:16

Here at Shenwick & Associates, the end of the holidays and the start of the new year brings new inquiries from potential clients who have resolved to tackle their debt in 2019.  This month, we’re going to discuss the timeline of the chapter 7 bankruptcy process (we also handle cases involving other chapters of the Bankruptcy Code, such as cha

December 2018 TLC medallion sales

Submitted by Anonymous (not verified) on Wed, 01/09/2019 - 20:59

The December 2018 New York City Taxi & Limousine Commission (TLC) sales results have been released to the public. And as is our practice, provided below are Jim Shenwick’s comments about those sales results.
1. The volume of transfers fell from November. In December, there were 95 unrestricted taxi medallion sales.

Crain's New York: Taxi and Limousine Commission head to step down

Submitted by Anonymous (not verified) on Mon, 01/07/2019 - 21:56

By Erik Enquist and Matthew Flamm
Meera Joshi, CEO and chairwoman of the Taxi and Limousine Commission, plans to step down from her role in March, Mayor Bill de Blasio announced Saturday. A source told Crain's Friday that Joshi had told her senior staff Tuesday of her plans to depart.
Word leaking out might have precipitated the unusual Saturday announcement, just a day after news that Department of Buildings Commissioner Rick Chandler will retire Feb. 1.

Gothamist: Judge Temporarily Blocks $2.50 Taxi Surcharge Scheduled For January 1st

Submitted by Anonymous (not verified) on Mon, 12/24/2018 - 18:14

By Jake Offenhartz

A New York judge has temporarily blocked a state congestion pricing surcharge that would have added a $2.50 fee to yellow cabs and some for-hire vehicles in order to help fund the subways.

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