‘Forced-Place’ Insurance and Foreclosure

It is possible for an insurance policy to force someone into New York foreclosure. These would be “forced-place” insurance policies. As the name suggests, the policy is forced into place onto the homeowner by another party. Before going into how this can lead to or aggravate a foreclosure, it’s necessary to explain why a party would do this.

Although homeowners are obligated to purchase insurance for their homes, if they don’t have it for whatever reason, lenders might purchase it for them. The reason for doing so is that if the home is damaged, then its value declines. Since a homeowner pledges the homes as collateral to the bank for the mortgage, the bank has an interest in maintaining its value too.

As a result, banks buy insurance policies for the home and then charge homeowners for the payments. But why stop with any old, appropriate policy when they’re not the ones paying for it? This segues into all the ways lenders abuse forced-place insurance, which can lead to New York bankruptcy:

• Sometimes lenders over-insure homes. In some instances, even, banks receive kickbacks from insurers for purchasing high-priced policies and then pass the costs to the homeowner. Often the policies are costly yet do not protect against damage to personal items or owner liability.
• In even worse scenarios, banks’ subsidiaries will reinsure properties to increase profits. Vastly over-insured properties are costly to homeowners.
• Homeowners who pay their mortgage bills, which often include the insurance, into an escrow account at another bank might find that the lender misses the payment to the mortgage lender, triggering a purchase of forced-place insurance on the property to ensure the property is protected.
• In other cases, lenders have bought back-dated policies to protect homeowners from events that already occurred and then stuck them with the bill, even if no damage occurred.

To some degree, the Dodd-Frank financial regulation law dealt with forced-place insurance, but New York State’s Department of Financial Services (DFS) has reached settlements with some forced-place insurers for gouging New York homeowners. Many people in the state reported that the forced-place insurance policies raised their mortgage payments by hundreds of dollars and then forced them into foreclosure.

There are some ways to avoid forced-place insurance policies being placed on your home. One is to seek your own policy and pay it separately from your mortgage. Another is, if possible, to pay the entire policy annually rather than monthly. It can be more expensive up front, but fewer payments means a reduced likelihood of default. If your lender has purchased an insurance policy for your home, you can try to get your old policy reinstated or purchase a new one. Then gather as much information on the forced-place policy as possible, and then request the lender to cancel the policy. The one thing not to do is stop paying the new policy or your mortgage payments.

The DFS’s Web site has resources that can help homeowners with forced-place policies.

If a forced-place insurance policy is sending you into foreclosure, then it’s a good time to contact an experienced New York bankruptcy lawyer to help with your case.

For answers to more questions about bankruptcy, the automatic stay, effective strategies for dealing with foreclosure, and protecting your assets in bankruptcy please feel free to contact experienced Brooklyn bankruptcy attorney Bruce Weiner for a free initial consultation.

Removing a Bankruptcy Filing From a Credit Report

It’s surprisingly common for people exiting New York bankruptcy to see their credit scores improve. This phenomenon is generally attributed to the fact that debtors have taken the responsible course of action with their debts, rather than letting them spiral into default. Alternatively, creditors may be interested in taking advantage of former debtors’ inability to discharge their debts again for a few years, depending on the chapter they used.

Despite the benefits of filing bankruptcy to one’s credit score, many debtors don’t want to see it on their credit reports. Unfortunately, there’s little they can do about it—at first. The Fair Credit Reporting Act (FCRA) allows credit reporting agencies to keep a bankruptcy filing on a credit report for no fewer than ten years, and it requires them to disclose the chapter debtors filed in provided they are informed of it. However, there are ways consumers can try to lift a bankruptcy filing from their credit reports.

(1) Ask them. Seriously, sometimes the credit reporting agencies will remove a bankruptcy if they are asked to do so. They’re more likely to agree if it was a chapter 13 filing, and the bureau might agree after seven years rather than demanding the full ten.

(2) Make them. This only works if there’s an inaccuracy on the credit report, such as a bankruptcy the consumer never filed or one that has been on the report for longer than ten years. Consumers can directly challenge the credit bureaus if they can show there is an error.

(3) Notify them that the bankruptcy filing was withdrawn. Doing this won’t lift the bankruptcy from the report, but it will clarify it. The clock for the ten-year limit on the credit report begins when the bankruptcy case is filed, not when the case is closed. That means credit bureaus will include a bankruptcy filing even for debtors who do not receive a discharge. The FCRA, though, allows debtors to require the credit agencies to note that the filing was withdrawn. This can be beneficial for debtors whose debts may not have been dischargeable, for example, but who nevertheless began successfully paying down their debts outside of bankruptcy.

Although it’s a slightly separate topic, errors on credit reports can be corrected, and for New Yorkers, it’s now easier to do. Credit scores are not the be-all-end-all of credit access, but they can be important. Fortunately, the FCRA gives consumers (and former bankruptcy debtors) some tools to ensure their creditworthiness is properly reported. For people who have significant debts, it’s helpful to hire an experienced New York bankruptcy lawyer to handle the matter. It’ll be better for a credit score than defaulting.

For answers to more questions about bankruptcy, the automatic stay, effective strategies for dealing with foreclosure, and protecting your assets in bankruptcy please feel free to contact experienced Brooklyn bankruptcy attorney Bruce Weiner for a free initial consultation.

‘Business Debts’ Might Keep Debtors in Chapter 7

Debtors considering chapter 7 New York bankruptcy often learn that if their incomes are above their state’s median family income, they must take the means test. The consequence of failing it would be converting their cases to chapter 13 (or, less commonly, chapter 11). This isn’t true for all debtors, notably business debtors, and some exceptions are built into the Bankruptcy Code for them. One worth discussing is the means test’s debt requirements.

Section 707(b)(1) of the Bankruptcy Code, which authorizes the means test, specifies that the bankruptcy court, the trustee, the U.S. trustee (who is different), or any “party in interest” (usually creditors), may move the bankruptcy court to dismiss a case that is filed by an individual debtor whose debts are “primarily consumer debts,” if the chapter 7 filing is found to be abusive. This means that the means test applies to non-corporate entities that owe non-consumer debts. “Consumer debts” are defined in Section 101(8) of the Bankruptcy Code as, “debts incurred by an individual primarily for a personal, family, or household purpose.”

For business debtors, it should be clear that if they can show their debts are “primarily” non-household debts, then they can argue that their above-median-income status should not exclude them from chapter 7. What it takes for a debtor’s debts to be “primarily” consumer debts isn’t clear from the statute, but it’s usually just a bare majority of their debt.

As for what “business debts” are, the Bankruptcy Code defines “small business debtor,” but that’s not really relevant to the distinction between “business debts” and “consumer debts” as defined. Rather, oftentimes bankruptcy courts will look at the “profit motive” behind the debts, so household credit card debt, mortgage debt, auto debt, and usually student loans are usually not considered “business debts” while individuals’ debts to purchase inventory for their businesses are.

It’s a good idea for debtors who are running unincorporated businesses to separate their businesses’ debts from their households’, for instance, by obtaining a new credit card for the business only, or ensuring that money from a home equity loan is exclusively used for the business and not family expenses. (For debtors who do incorporate: If their businesses fall on hard times, often the business will file in chapter 7, which won’t be subject to the means test since it’s not an individual, while the owner does as well, but his or her debts will probably be household debts anyway).

Bankruptcy courts might nevertheless dismiss business debtors’ cases for reasons grounded in Section 707(a) of the Bankruptcy Code. This section is often construed as a “good faith” requirement for filing, so business debtors might be stymied if the creditors or trustee can convince the bankruptcy court that the filing is in bad faith.

Business bankruptcies, especially when they’re unincorporated personal bankruptcies, are almost always more complex than the typical chapter 7 case. It’s crucial to have an experienced New York bankruptcy lawyer handle the matter.

For answers to more questions about business bankruptcy, the automatic stay, effective strategies for dealing with foreclosure, and protecting your assets in bankruptcy please feel free to contact experienced Brooklyn bankruptcy attorney Bruce Weiner for a free initial consultation.

Bankruptcy When You Are Expecting

Most people don’t think about growing their families when filing New York bankruptcy, but bringing a child into your family can add a few wrinkles to a filing that debtors might want to know about, particularly when a pregnancy happens by accident.

Probably the most common place where a new child will (or won’t) affect a chapter 7 bankruptcy is in chapter 7, which is means tested. Debtors might want to include an unborn or soon-to-be-adopted child in a filing to keep their incomes below the state’s median. An additional person in a family can add more than $10,000 to the median income threshold in New York, so it’s understandable that debtors at certain income levels would want to try this. Unfortunately, the size of the debtor’s family is determined at filing. Debtors who are expecting children are better off waiting until the child is born or adopted before filing bankruptcy, if at all possible.

Speaking of which, for adopted or foster children the child only counts as a family member once the adoption is finalized. Although, the Bankruptcy Code doesn’t define “family” outside of “family farmers” and the like, which are relevant to the rare chapter 12 bankruptcy. The law does refer to the Census Bureau when discussing median incomes. There, a family household only includes a householder and any of that person’s relatives. It does not include non-relatives who are a part of the household. This means that non-related, non-adopted children are not included in chapter 7, even if the child is treated as a family member.

Debtors whose incomes are above the state’s median and must take the means test can plead that the new child is a special circumstance (covered here) that warrants keeping the case out of chapter 13. This would likely involve showing that the new child requires the debtor to spend more than would otherwise be the case at that income level.

In chapter 13, debtors are allowed to include child care expenses in their proposed repayment plans. If a debtor is expecting a child, there are multiple ways to accommodate him or her in the plan. Usually trustees will understand, but debtors can try to delay the bankruptcy filing or the confirmation of the plan until the child is born. Debtors whose plans are in progress can simply move the bankruptcy court to modify the repayment plan once the child is born.

Finding out that you will have a child will add stress to a bankruptcy. That’s why it’s so important to discuss your situation with an experienced New York bankruptcy lawyer to prevent yourself from being overwhelmed.

For answers to more questions about bankruptcy, the automatic stay, effective strategies for dealing with foreclosure, and protecting your assets in bankruptcy please feel free to contact experienced Brooklyn bankruptcy attorney Bruce Weiner for a free initial consultation.

Reverse Mortgages and New York Bankruptcy

A reverse mortgage is when a homeowner who owns a property free of any other mortgages and is at

least 62 years old borrows money against the home’s equity. It’s “reverse” in the sense that the home’s equity decreases as the money is paid out to the homeowner instead of rising with each mortgage payment. Eventually, the homeowner is expected to make monthly payments or sell the home to repay the bank. Reverse mortgages stated purpose is to allow older Americans who have little income to use their equity for consumption purposes.

Whether they work as intended is disputable, and there are legitimate fears that a reverse mortgage can lead a homeowner to New York bankruptcy for a few reasons: One, reverse mortgages can come with high fees, and interest on the unpaid balance can accumulate. Although, they sometimes cannot rise higher than the value of the property. At some point, however, the lender expects to make a profit on the loan. Because homeowners will often no longer be working, it usually won’t be feasible to file a chapter 13 bankruptcy, and homeowners might need to sell the home.

Two, the full balance of a reverse mortgage can become due under several circumstances: the

Three, even if their purposes are to help elderly homeowners, reverse mortgages have a reputation for being scam financial vehicles. Usually this involves handing the mortgage proceeds to a third party and never paying the homeowner. Being the victim of a scam can also lead to a bankruptcy filing.

There can be times when a reverse mortgage by an honest broker can help homeowners, like paying for a vacation a few years before a sale or helping a family member through medical problems, but they do have New York bankruptcy implications homeowners (and sometimes their heirs) should be aware of.

For answers to more questions about bankruptcy, the automatic stay, effective strategies for dealing with foreclosure, and protecting your assets in bankruptcy please feel free to contact experienced Brooklyn bankruptcy attorney Bruce Weiner for a free initial consultation.

borrower sells the property; moves out for 12 months; fails to pay property taxes or homeowner’s insurance; or dies. The first circumstance is probably the easiest to handle, since it largely reflects the benefit of a reverse mortgage: tapping equity to pay for present consumption rather than using it for future saving. The next two situations can lead to insolvency by the homeowner, which might require a bankruptcy filing, while the third can result in the homeowner’s probate estate having less equity to satisfy other debts.

Student Loan Defaults Mounting Despite Income-Based Repayment Programs

There’s a lot of bad reporting on student loans out there. Frequently, you will hear about how student loans aren’t a problem because the people with high balances are a tiny minority of all student loan debtors, or that higher debts tend to coincide with higher incomes. The issue isn’t that these points are strictly false; rather, it’s that they don’t matter. People who can’t afford to pay their student loans cannot in fact pay their student loans, no matter how low they are.

Thus, it’s troubling to see the Federal Reserve Bank of New York report that the 90-day delinquency rate for student loans rose slightly at the end of 2014. In mid 2013, the rate jumped by two points to 11 percent, and it’s stayed at that elevated level since then. Meanwhile, the delinquency rates for other types of household debts, mortgages, auto loans, and even credit cards, have fallen. In a blog post on the topic, the New York Fed’s researchers give the Bankruptcy Code’s strict requirements for discharging student loans as the principal culprit for the high delinquency rate. They write, “[D]elinquent or defaulted student loans can stagnate on borrowers’ credit reports, creating an ever-increasing pool of delinquent debt.”

The delinquencies, though, are just the tip of the iceberg. The New York Times reports that nearly half of all student loans are not even in repayment because the debtors are either still in school or in a deferment or forbearance. At the same time, the number of people signing onto income-sensitive repayment programs is rising, meaning that probably less than half of all student loans are in effective repayment. Why it is that so many people can be defaulting on their student loans while these options are available isn’t clear. The Times says that because the average delinquent balance is low, it indicates that most defaulters are people who didn’t complete their studies. Moreover, typically, nonpayment corresponds to higher rather than lower balances, which might mean that the income-based repayment schemes are really default or bankruptcy alternatives for people who will never repay their debts.

In all, the student debt system is a mess, and it doesn’t look like it will be fixed any time soon. There are, however, options for student loan debtors who are finding difficulties repaying their debts. If that describes you, then the first thing you should know is that you’re not alone. Many people are not repaying or cannot repay their debts, one way or another. Secondly, if an income-based repayment scheme can’t help, such as for private student loan borrowers, then a bankruptcy filing can help free income dedicated to other debts for the student loans. Chapter 13 bankruptcy can also provide advantages to student loan debtors.

For answers to more questions about student loans, bankruptcy, the automatic stay, effective strategies for dealing with foreclosure, and protecting your assets in bankruptcy please feel free to contact experienced Brooklyn bankruptcy attorney Bruce Weiner for a free initial consultation.

Attorney Profile: Bruce Weiner

Bruce Weiner, Partner

Brooklyn, New York

Local Phone (718) 855-6840

Toll Free (800) 297-6840

Fax (718) 625-1966

Contact Us

 

Bruce Weiner has been practicing bankruptcy law since he was admitted to the bar in 1978. In addition to his 30 years experience representing debtors, creditors and those being sued by bankruptcy trustees, Mr. Weiner has been involved in hundreds of trustee litigation cases since he joined Rosenberg Musso & Weiner in 1994. Bruce Weiner is known for thinking fast on his feet, his ability to handle complex cases, caring client representation, attention to detail, excellent writing skills and courtroom demeanor, and tenacity.

Here are some highlights of the thousands of bankruptcy cases that Bruce Weiner has successfully handled:

Mr. Weiner has successfully argued 4 cases before the US Court of Appeals for the 2nd Circuit: 

1. Musso vs. Ostashko, this case involved the complicated interplay between divorce and bankruptcy. On appeal, Mr. Weiner successfully proved the assets belonged to the bankruptcy trustee, not to the spouse who had been awarded them by the state court.
2. Mr. Weiner successfully represented a debtor in a case against Caesar’s Palace Casino, discharging his gambling debt and forcing the casino to pay fees for violating the automatic stay.
3. In re Fischer, Bruce Weiner successfully represented a Chapter 7 Trustee in a case involving multiple parcels of real estate and complex issues.
4. In re Kran, III, Bruce prevailed in a complex bankruptcy case involving an attorney’s attempt to recover fees.

Bruce Weiner is married with 2 children.

Areas of Practice:

Bankruptcy Law

Litigation Percentage:

30% of Practice Devoted to Litigation

Bar Admissions:

New York, 1978

U.S. District Court Southern District of New York, 1981

U.S. District Court Eastern District of New York, 1981

U.S. Court of Appeals 2nd Circuit, 1990

Education:

Washington University School of Law, St. Louis, Missouri, 1977-J.D.

Law Review: Washington University Law Review, Member, 1976 – 1977

Washington University, St. Louis, Missouri, 1973-A.B.

Published Works:

• Seminar Course Book, Consumer Bankruptcy (Co-Author) St. Johns School of Law Consumer Bankruptcy Seminar
• Two Recent Second Circuit Cases Involving Fraudulent Debtors, ABI Commercial Fraud Task Force Newsletter, April, 2007
• Small Business Bankruptcy, Practicing Law Institute, Commercial Law and Practice Course Handbook Series – March 2010
• Cash Collateral, Practicing Law Institute, Commercial Law and Practice Course Handbook Series – March 2010
• Co-author, Zero Tolerance for Commercial Bankruptcy Fraud, ABI Journal, Dec05/Jan 06, Featured Article
• Co-author, Judicial Code 959(b) and its Relation to the Automatic Stay, ABI Journal, November, 1997
• The “Fractional Interest” Bankruptcy Foreclosure Scam, an Old Scheme Finds New Life, ABI Commercial Fraud Task Force, 2008

Representative Cases:

• In re Fischer, 53 Fed. Appt. 129, 2002 WL 31505620 (2nd Cir. NY  )
• In re Baumblit Affirmed, 2001 WL 880872 (2d Cir., NY  )
• In re Baumblit Affirmed, 251 B.R. 444 (E.D.N.Y. 2000)
• Matter of Ngan Gung Restaurant, Inc., 195 B.R. 593 (S.D.N.Y. 1996)
• In re Baumblit, 229 B.R. 50, 33 Bankr.Ct. Dec. 1032 (Bankr. E.D.N.Y. 1999)
• In re Baumblit, Affirmed in Part, Reversed in Part, 251 B.R. 442 (E.D.N.Y. 2000)
• In re Baumblit, Affirmed, 2001 WL 880872 (2nd Cir., N.Y.  )
• In re Westchester Tank Fabricators, Ltd., 207 B.R. 391, 37 Collier Bankr.Cas. 2d 1495 (Bankr.E.D.N.Y. 1997)
• In re American Globus Corp., 195 B.R. 263 (Bankr .S.D.N.Y. 1996)
• In re Sydor, 132 B.R.243 (Bankr. E.D.N.Y. 1991)
• In re Terzian, 75 B.R.923 (Bankr. S.D.N.Y. 1987)
• In re Carlton, 72 B.R.543 (Bankr. E.D.N.Y. 1987)
• In re Nana Daly’s Pub, Ltd., 67 B.R.782 (Bankr. E.D.N.Y. 1988)
• In re Fran Char Press, Inc., 55 B.R.55, 42 UCC Rep.Serv. 1299 (Bankr. E.D.N.Y. 1985)
• In re Blake, 38 B.R.604, Bankr.L.Rep. P. 69,819 (Bankr. E.D.N.Y. 1984)
• In re Roberts, 20 B.R.914, 6 Collier Bankr. Cas. 2d 892 (Bankr. E.D.N.Y. 1982)
• In re Ostashko, 468 F.3d 99 (2d Cir. 2006) (Second Circuit 2006)

In another complicated bankrupt matter, “In re Taghrid Mehri”, Mr. Weiner successfully defended a creditor against false allegations, stopped a debtor’s Chapter 13 proceeding and won them a judgement to forclose on a property.

Representative Clients: 

• Creditor Committees and Trustees
• Creditors-Banks and Factors
• Debtors-Corporate and Individual 

Classes/Seminars Taught:

• Basic Bankruptcy Law, NYCLA – January 2009, 2010 & 2011
• Introduction to Consumer Bankruptcy, panelist, Brooklyn Bar Association – June 2010
• Consumer and Small Business Bankruptcy, Practicing Law Institute, panelist – March 2010
• Overview of Business Bankruptcy Law, NYCLA panelist – January 2010
• Handling Tough Issues in a Plaintiff’s Personal Injury Case, New York State Bar Association, panelist – November 2009
• General Principles in Bankruptcy Practice, panelist, NYCLA – November 2009
• Introduction to Consumer Bankruptcy, panelist, Brooklyn Bar Association – June 2009
• Insolvency Issues in Commercial Leasing, NYCLA, moderator – June 2009
• Bankruptcy Crimes, NYCLA, moderator – March 2009
• Overview of Bankruptcy Law, NYCLA, panelist – September 2008
• Participant in Strategic Planning Session for Us Bankruptcy Court, Eastern District – 2008
• Participant in Strategic Planning Conference For Court Technology, US Bankruptcy Court, Eastern District – 2006 & 2008
• Panelist, Consumer Bankruptcy Seminar, St. Johns University School of Law NEED DATE
• Small Business Bankruptcy, NYCLA – February 2007
• BAPCPA One Year Later, New York County Lawyers Association, November 5, 2006
• Avoiding Litigation about mediation, United States District Court, EDNY – October 2006
• The Effect of BAPCPA on the Real Estate Community, NYCLA – October 2006
• ABI Winter Leadership Conference, American Bankruptcy Institute, Commercial Fraud Task Force – December 2005
• ABI Annual Spring Meeting, American Bankruptcy Institute, April 14, 2007
• Legal Research and Writing Instructor, Wayne State University School of Law, 1977 – 1978

Honors and Awards:

• Brooklyn Bar Association Frieda S. Nisnewitz Award for Community Service, May 2005
• New York State Bar Association President’s Pro Bono Service Award, May 2004
• Brooklyn Bar Association Volunteer Lawyers Project, Gold Certificate for Pro Bono Service 2002-2007

Professional Associations and Memberships:

• Brooklyn Bar Association, Member, Bankruptcy Committee 1990-Present
• New York County Lawyer’s Association, co-chair Bankruptcy Law Committee, 2002-2010, member of committee 2005-Present
• American Bankruptcy Institute, Commercial Fraud Task-force, contributing editor, Commercial Fraud Task Force newsletter.
• New York State Bar Association, member, Bankruptcy Committee, Federal and Commercial Litigation Section, 2005-present

Attorney Profile: Robert J. Musso

Robert J. Musso, Partner

Brooklyn, New York

Local Phone (718) 855-6840

Toll Free (800) 297-6840

Fax (718) 625-1966

Contact Us

Robert Musso is a Bankruptcy Trustee and attorney. He has been practicing bankruptcy law since he was admitted to the bar in 1977. A member of the trustee panel for the US Bankruptcy Court for the Eastern District for 30 years, Mr. Musso is trusted by the court to administer millions of dollars of assets in cases involving individuals and companies, ranging from manufacturing to bakeries. In addition to liquidating and recovering assets such as cash, business inventory and equipment, Mr. Musso has also recovered and liquidated residential and commercial real estate assets.

Mr. Musso received an AV rating from Martindale Hubbell, which is their highest rating for attorneys.

Rosenberg, Musso & Weiner’s debtor clients benefit from his Bankruptcy Trustee experience, as he brings a unique understanding of the issues from the other side of the table. He has in depth knowledge and experience of fraudulent transfers and bankruptcy litigation cases, and how to identify asset cases. Mr. Musso knows that there are times when it is not advantageous for a client to file for bankruptcy. Knowing when to file and when not to, helps debtor clients make the decision that’s best for them.

Mr. Musso has an excellent working relationship with other bankruptcy trustees, and is well respected by bankruptcy judges, and other court personnel.

An understanding, patient man, Bob Musso is also known for his responsiveness to clients and their needs.

Mr. Musso is married and has 3 children.

Here are some highlights of the thousands of bankruptcy & trustee cases that Robert Musso has successfully defended:

• Downtown Athletic Club: Represented the Creditor’s Committee in a Chapter 11 case which resulted in a successful reorganization of the company which was the former home of the Heisman Trophy.
• Mr. Musso has aggressively tracked down assets hidden in a foreign country. He flew to Greece to testify in court to recover assets in a case which involved liquidation of real estate.

Mr. Musso was recently featured on ABC Eyewitness News discussing job loss, financial difficulties and bankruptcy entitled “What to do if you lose your job“.

Year Joined Organization:

• 1994

Areas of Practice:

• Bankruptcy
• Real Estate
• Business Transactions
• Wills
• Probate

Litigation Percentage:

• 10% of Practice Devoted to Litigation

Bar Admissions:

• New York, 1977
• U.S. District Court Southern District of New York, 1980
• U.S. District Court Eastern District of New York, 1980
• U.S. Court of Appeals 2nd Circuit, 1988
• U.S. Supreme Court, 1984

Education:

• St. John’s University School of Law, Jamaica, New York, 1976
• J.D.University of Bridgeport, 1973 B.A.

Representative Clients:

• Creditors
• Debtors
• Trustee, Freight Forwarders
• Trustee, Marinas
• Trustee, Commercial Bakeries
• Trustee, Florists
• Trustee, Restaurants
• Trustee, Metal Fabricators

Classes/Seminars Taught:

• ABI Winter Leadership Conference, American Bankruptcy Institute, December 3, 2005 – December 4, 2005
• Speaker, 2008 Annual Legal Conference of Colombian Lawyer Association, Atlantic City NJ, Columbian Lawyer Bar Association. Mr. Musso spoke about the interplay between matrimonial law and bankruptcy law, and the effect of the new bankruptcy law on debtors and creditors.
• Adjunct Professor, CUNY
• Speaker, Nassau County Bar Association, January 2011

Professional Associations and Memberships:

• Brooklyn Bar Association Member, Bankruptcy Committee
• Columbian Lawyers Bar Association: Vice President, Member, Board of Trustees
• U.S. Bankruptcy Court, Eastern District of New York, 1979 – Present: Trustee, Chapter 7

Attorney Profile: Robert Nadel

Robert Nadel, Associate

Brooklyn, New York

Local Phone (718) 855-6840

Toll Free (800) 297-6840

Fax (718) 625-1966

Contact Robert Nadel

Robert Nadel has been practicing bankruptcy law since he was admitted to the bar in 1994. His primary area of specialization is Chapter 13. Mr. Nadel has an excellent relationship with the Chapter 13 bankruptcy trustees, and has a very high success rate in Chapter 13 cases. He takes cases from inception to discharge. His efforts have enabled home owners in foreclosure to retain their homes, and people who do not otherwise qualify for Chapter 7 to obtain a bankruptcy discharge through Chapter 13.

Mr. Nadel is an expert in analyzing client’s financial situations and devising the best Chapter 13 plan for their family.

In addition to his legal expertise, clients appreciate nyc bankruptcy attorney Mr. Nadel’s sympathetic, friendly approach and understanding nature. In a July 2008 New York Law Journal article, Mr. Nadel summed up his work by stating: I’m involved with a client’s life in a very positive way, with no acrimony and when I’m done with a case, the client is always happy. I’ve been a force for positive change in their lives.”

Robert Nadel heads up our Suffolk Country Office, consultations are available at this location by appointment only.

Mr. Nadel is married and has two children.

Areas of Practice:

• Bankruptcy

Bar Admissions:

• New York, 1994
• U.S. District Court Southern District of New York, 1995
• U.S. District Court Eastern District of New York, 1995

Education:

• Brooklyn Law School, Brooklyn, New York, 1993-J.D.
• State University of New York at Binghamton, 1989-B.A.

Bankruptcy Services

Bankruptcy may seem simple, but it is more complex than it first appears. It is best to consult an attorney before filing. The Brooklyn bankruptcy law firm of Rosenberg, Musso & Weiner, L.L.P. has been serving clients in need of bankruptcy services for over 60 years.

Our Brooklyn bankruptcy law firm can help you take back control of your life through strategic use of the law. We serve clients in a variety of bankruptcy matters. Here are the bankruptcy services we provide:

Chapter 7 Bankruptcy
This is referred to as “straight liquidation”. This constitutes a complete discharge of your debt and is most useful if you don’t have any assets. If you would like more information on this subject, visit our About Bankruptcy section.

Chapter 11 Bankruptcy
This chapter is typically used by businesses to pay off a portion of their debts while still continuing their normal operations. The goal is beneficial for both the creditor and debtor because the creditor will be repaid a higher percentage of debt owed to them than if the business closed.

Chapter 13 Bankruptcy
Benefiting the “wage earner”, Chapter 13 is a useful tool for debtors who are threatened with foreclosure and want to keep their house.

Landlord’s Rights in Bankruptcy
Landlords have the possibility of maintaining debt collection actions and evictions when a tenant has declared bankruptcy. Our office has been representing the rights of both debtors and creditors for over 60 years. We can help them protect their rights and use eviction proceedings to get their unit back.

Bankruptcy Law Changes
There has been a great deal of discussion in the media and among concerned debtors about the changes in federal bankruptcy law. Contrary to what you may have heard, most people who qualified for protection before still qualify today. Call our office to learn more.

Automatic Stay Created By Filing Bankruptcy
One of the most useful aspects of filing is the stay that automatically stops all debt collection actions. This feature gives you much-needed time and space to get your finances back in order.

Foreclosure and Bankruptcy
Filing a petition also stops all mortgage foreclosure actions currently underway, as well as preventing lenders from initiating them. Our office has experience representing the rights of both debtors and creditors when they are facing mortgage foreclosure issues.

Business Bankruptcy Cases
Businesses face a number of legal and financial issues that must be carefully considered when filing. Our attorneys, working with financial experts, prepare all necessary paperwork necessary for businesses filing a petition. We also work with trustees and creditors to develop debt reorganization plans that allow your company to maintain day-to-day normal business operations.

Bankruptcy Adversary Proceedings
We advise and represent parties involved in adversary proceedings. We have a great deal of experience filing adversary proceedings and defending those who may have received a preference payment or an alleged fraudulent conveyance.

Bankruptcy Trustee Actions
Our lawyers represent trustees with all manner of litigation that may arise in relation to a bankruptcy case.

If you need experienced advice in any bankruptcy matter, contact our Brooklyn bankruptcy law firm at (718) 855-6840 or (800)297-6840. Or complete our online contact form to give our lawyers more information about your financial situation.

To learn more about your rights under federal bankruptcy law, visit our About Bankruptcy section or our blog.