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Long Island Bankruptcy Lawyer - Chapter 7 Bankruptcy - Chapter 13 Bankruptcy

Filing Chapter 7 Bankruptcy and Chapter 13 Bankruptcy from a Long Island Bankruptcy Lawyer

Tax Refunds and Chapter 7 Bankruptcy – Nothing Has Changed For Homeowners With Equity

November 11, 2011 By Richard S. Feinsilver

In bankruptcy, you are allowed to protect various assets, such as cash or cash equivalent assets such as the right to receive a tax refund. This is called exempt property or exemptions. When the exemption laws were overhauled in New York in January 2011, it proved to be a major benefit to homeowners and renters…Read more

Massachusetts Not-For-Profit Has Right Idea to Fix Mortgage Mess – One Home At A Time

October 25, 2011 By Richard S. Feinsilver

Daniel Gross recently reported on Yahoo Finance that there is one ray of light in the mortgage modification mess – Boston Community Capital. Here are some excerpts from his report… Five years after the housing market peaked, the mortgage mess remains a significant drag on the economy. Banks, policymakers and investors have yet to figure…Read more

My Bank Debited My Account to Pay My Debt? Why Your Bank Has A Right of Setoff and What You Can Do If You Are Considering Bankruptcy?

October 23, 2011 By Richard S. Feinsilver

When you owe money to a bank or credit union and also have money on deposit with the same institution, the bank/credit union has a right to setoff the debt owed to it against the funds on deposit. This right is based on the contract with the bank the debtor signed when he or she…Read more

It May Make Sense to Get Over It – Mr. Obama Is Not Going To Save Your Home…

September 14, 2011 By Richard S. Feinsilver

Earlier today, I was listening to a business report on the radio in which an economist actually recommended that homeowners who purchased a home in the mid-2000’s with little or no money down, who are now at least 12 months behind on their mortgage and have been unable to modify their mortgage because of insufficient…Read more

Congratulations! You Modified Your Mortgage – Now Get The Rest of Your Financial House in Order

September 11, 2011 By Richard S. Feinsilver

In these difficult times, many homeowners have faced the prospect of being unable to maintain their mortgage payments and they have turned to their mortgage lenders for assistance to modify their mortgage(s). If you have been fortunate enough to modify your mortgage, I now ask you to answer the following questions: Did it solve all…Read more

Short Sales May Not Be Best Bet for “Underwater” Homeowners

August 7, 2011 By Richard S. Feinsilver

The Street reported on August 5, 2011 that banks are stepping up their efforts to facilitate short sales of properties in which the outstanding balance on the mortgage exceeds the present market value of the property (also known as being “Upside Down” or “Underwater”). Basically, the banks have finally realized that they have to get…Read more

Are Mortgage Lenders Encouraging Homeowners to File Bankruptcy?

June 12, 2011 By Richard S. Feinsilver

I know this sounds completely bizarre, but it may start happening more frequently in the near future. In the past 30 days, I have encountered three new clients who have been “informally” advised by their mortgage lenders to file bankruptcy to deal with their unsecured debt PRIOR to completing a mortgage modification. Lenders, in addition…Read more

Parent Guarantees of Student Loans – Love Your Children, But Don’t Sign For Them!

June 5, 2011 By Richard S. Feinsilver

In the recent past, I have seen a trend develop that, even as a parent, I find extremely disturbing – parents seeking bankruptcy protection in mid-life or in preparation for retirement that will remain saddled with their children’s student loan obligations long after they have discharged of their other debts. Here’s an example: A couple…Read more

You May Have Too Much Debt – But You Also Have Options

April 23, 2011 By Richard S. Feinsilver

If you feel like you’re in over your head with personal debt, you’re not alone. Millions of Americans have become overextended, many as a result of easy credit provided by banks and impact of the most recent recession. Credit cards, medical bills, personal loans, and high interest rates do not make a good financial mix.…Read more

New Wildcard Exemption is a “Wild” Success in New York

April 10, 2011 By Richard S. Feinsilver

Beginning January 22, 2011, individuals filing for bankruptcy protection in New York were given the option of choosing either the New York State or Federal Exemptions to determine what personal property could be protected from creditors and trustees. This has proven to be a major benefit, particularly to those individuals who either rent or own…Read more

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Tips For Hiring a Bankruptcy Lawyer

A good bankruptcy lawyer will understand your financial situation and provide you with the best advice. He or she will review your financial records and will handle your interactions with the trustee and creditors. Additionally, your attorney will be … Read more...

Four Common Financial Mistakes

When we talk about personal finance it’s usually more about what you should be doing now, but too often the mistake has already been made. Many people regret what they didn't know when they were younger. As a society, we are seeing the impact the … Read more...

It Pays To Be Familiar With Your Credit Report

It pays to be familiar with your credit report. The information it contains determines your credit score, your ability to access credit and loans, and even your chances of landing a job or signing a lease. It's a good idea to check your credit report … Read more...

Our Office Locations

Nassau County

One Old Country Road
Suite 347
Carle Place, New York 11514
Appointment Only
855-334-6529 (local)

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Eastern Suffolk County

80 Orville Drive
Suite 100
Bohemia NY 11716
Appointment Only
855-334-6529 (local)

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We are a debt relief agency serving individuals and businesses located in New York’s Queens, Nassau and Suffolk Counties on Long Island including the towns of Hempstead, North Hempstead, Oyster Bay, Huntington, Islip, Babylon, Smithtown, Brookhaven, Riverhead and the North Fork (Montauk) and South Fork (Hamptons) of Long Island. We assist people and businesses to file for relief under the bankruptcy codes. For a full list of the areas Richard Feinsilver and his associates serve, please check this areas served page.

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