Articles from New York, NY Bankruptcy Lawyer : Bankruptcy & Tax Attorneys | Manhattan - Long Island Law Firm

Property values in New York City are exorbitant compared to the rest of the state. Very often, a rent-stabilized or rent-controlled apartment is the only way that people in certain income brackets can live in the city proper. As such, the concept of rent control is something that matters to quite a lot of people. The question has even come before the bankruptcy court – is a rent-stabilized lease an asset in a Chapter 7 bankruptcy? Or is it a personal right that cannot be sold?

Every American of a certain age knows what a FICO score is. A FICO score is the measure by which your credit rating is judged, and it can affect every area of your life. However, there may be relief on the horizon for some people. After studies conducted by the Consumer Financial Protection Bureau and a period of re-evaluation, the mechanic for calculating FICO scores is being upgraded and made more exact, which will improve some scores noticeably.
Debts Are More Complex

CNN reports that the average student loan debt in the United States at the end of last year was nearly $30,000. In New York the numbers are almost as bad; the average is just over $25,000.  Between 2008 and 2012, student loan debt rose a shocking six percent per year. Seventy percent of college seniors nationwide graduate with student loan debt, and 20 percent of that debt is owed to high-cost private lenders.

Historically, people who have experienced crushing debt have faced seemingly endless harassing phone calls from debt collectors.