Bankruptcy

Introduction: Selecting the Best Bankruptcy Attorney in Long Island You don’t have to handle debt alone, even though it can feel overwhelming. Filing for bankruptcy may be the greatest option for you to reclaim financial control if you’re having financial difficulties. But since bankruptcy laws are complicated, it can really help to have a knowledgeable Long Island bankruptcy attorney on your side. Whether it’s Chapter 7 or Chapter 13 bankruptcy, our specialty at The Law Offices of Ronald D. Weiss PC is assisting Long Island citizens in determining their best course of action. Everything you need to know about bankruptcy, legal fees, and how we may help you become financially independent will be covered in this handbook. Understanding Bankruptcy in Long Island Bankruptcy Bankruptcy is a legal process that allows individuals and businesses to eliminate or restructure debt under federal law. It offers relief for those who can no longer meet their financial oblig...

  Impacts of the Foreclosure Abuse Prevention Act On December 30, 2022, Governor Kathy Hochul signed into law the Foreclosure Abuse Prevention Act (“FAPA”) (A7737B). Originally introduced by Senator James Sanders, Jr. on March 8, 2021, FAPA spent nearly two years moving through New York’s legislative process. The act was a direct response to the Court of Appeals decision in Freedom Mtge. Corp. v. Engel (37 NY3d 1 [2021]), leading many to refer to FAPA as the “Anti-Engel Bill.” With FAPA’s passage, many mortgage liens have been rendered time-barred under New York’s six-year statute of limitations for mortgage foreclosures. This article examines the current state of New York foreclosure law and how FAPA has reshaped the legal landscape. I. Understanding the Statute of Limitations in New York Foreclosure Law A statute of limitations establishes a deadline for filing lawsuits after a triggering event. Under New York law (CPLR § 213[4]), the statute of limitations...