kiro 7 is reporting that "Student loan debt: 9 million wrongly told they were approved for debt forgiveness" The article can be found athttps://lnkd.in/e9iAtkkV Jim Shenwick, Esq. 212 541 6224 jshenwick@gmail.com

 Biden administration asks the Supreme Court to take on another student-loan forgiveness lawsuit, saying the lower court blocking the debt relief 'profoundly erred as reported by Yahoo at https://lnkd.in/egUmizFbJim Shenwick, Esq 212 541 6224 jshenwick@gmail.com

If a recent diagnosis prevents you from working, you may be eligible for disability benefits in New Jersey. That said, generally only those of a certain age can qualify for disability benefits. The age at which each person can get disability benefits through their own earning record in New Jersey depends on how long they’ve been working. Suppose you wish to get Social Security Disability Insurance (SSDI) benefits through a parent’s earning record. In that case, you must be above 18 and have been diagnosed with a qualifying condition before turning 22. Age also plays a part in determining your benefit amount. Essentially, those who have worked longer and are older may get a larger monthly disability payment. When you reach retirement age, your monthly SSDI benefit will change and become a monthly retirement benefit. Our attorneys are here to help New Jersey residents better understand the disability benefits available to them. For a free case evaluation with the New Jersey disability lawyers at Young, Marr, Mallis & Associates, call today at (609) 557-3081. At What Age Can I Get Disability Benefits in NJ? In New Jersey, part of the equation for determining eligibility for disability benefits is one’s earning record. Because of this, age and how many years you’ve worked can play a part in whether or not you can receive Social Security Disability Insurance benefits. Age may matter, whether you get disability benefits through or a parent’s earning record or your own. Through Your Own Earning Record Generally speaking, people qualify for disability benefits through their own earning record when they’ve earned about 40 work credits, or worked for about a decade. So, say you began working when you were 18. In that case, you may qualify for disability benefits through your earning record by the time you turn 30. Of course, this differs for everyone, depending on when they began working a job that removed Social Security taxes from their paychecks. Lapses in work experience might delay when you become eligible for SSDI benefits in New Jersey. If you’re unsure whether or not you qualify for SSDI benefits through your own earning record based on your age, ask our Mt. Holly, NJ disability lawyers for clarification. Through a Parent’s Earning Record Some people may qualify for SSDI benefits through a parent’s earning record. In this circumstance, the age you were when you were diagnosed with a qualifying disability, injury, or illness matters. To get disability benefits through a parent’s earning record, you must have been diagnosed with a qualifying condition before you turned 22. Adult disabled children must also be over the age of 18 to get disability benefits through a parent’s earning record. In addition to these age requirements, those diagnosed with a qualifying condition before age 22 must have a parent that would otherwise qualify for disability benefits. Call our attorneys if you were recently diagnosed with a condition that prevents you from working and are older than 22, but do not have an earning record that qualifies you for SSDI benefits. You may be eligible for other Social Security benefits in New Jersey. Will My Age Determine My Monthly Disability Benefit in NJ? In addition to helping determine eligibility for disability benefits in New Jersey, age can also influence the amount of your monthly SSDI benefit. More senior individuals who have worked longer may qualify for a higher monthly payment in New Jersey. In part, eligibility for disability benefits in New Jersey is based on one’s earning record. Each time you receive a paycheck from an employer, your employer is tasked with removing taxes for Social Security. This enables you to pay into the system, so to speak. The more paychecks you receive over the years, the more taxes are taken out, qualifying you for a greater benefit. Because of this, those who have worked decades and are near retirement age may receive a larger monthly Social Security Disability Insurance payment. Our Mount Laurel disability lawyers can help estimate your monthly SSDI benefit based on your age and the number of years you have worked. If you get disability payments through a parent’s earning record, your monthly benefit amount will be based on the years they’ve worked. So, the older your parent is, the bigger your monthly payment may be. At What Age Will I Stop Getting Disability Benefits in NJ? After recipients reach a certain age, SSDI benefits change. Your monthly payments won’t disappear altogether but will adopt a different title. Understanding this process is important so that you can continue getting Social Security benefits as you age in New Jersey. Social Security Disability Insurance benefits are designed to replace income for people in New Jersey who can no longer earn a sufficient income because of a qualifying disability, injury, or illness. But what happens when you are no longer of working age? When disability recipients reach what would be retirement age, their monthly payments won’t stop but will instead go by a different name. Your retirement age, or when your SSDI benefits will become retirement benefits, is based on the year you were born. Currently, the earliest a person can receive retirement benefits in New Jersey is 62. Our lawyers can help you determine what retirement age is for you and help you prepare for the changing of your benefits. Generally, recipients’ monthly benefit amounts remain the same once they change from SSDI benefits to retirement benefits in New Jersey. If your benefit reduces during this period, call our East Brunswick disability lawyers immediately. Although SSDI benefits should automatically convert to retirement benefits when you reach a certain age, our attorneys can help if you run into any issues. Call Our New Jersey Lawyers About Disability Benefits Today If you need help applying for disability benefits in New Jersey, reach out to our attorneys. For a free case evaluation with the Piscataway, NJ disability lawyers at Young, Marr, Mallis & Associates, call today at (609) 557-3081.

 CANCELING, TERMINATING, OR BREAKING A COMMERCIAL LEASE IN NEW YORK CITY AND THE GOOD GUY GUARANTY Whether it is crime, quality of life, or economics, many small businesses are looking to terminate or break their commercial leases before they expire.  Those tenants include  retailers, restaurants or office lease tenants.Mr. Van Nieuwerburgh, a Columbia professor, calculates that New York office space on average costs about $16,000 a year per employee. “That’s real money,” he said, “and companies will try to save that”. The article quoting Mr. Nieuwerburgh can be found at https://www.nytimes.com/2022/11/17/business/office-buildings-real-estate-vacancy.html Many tenants looking to terminate their leases have contacted us regarding an early termination of their lease and the sticking point is usually the Good Guy Guaranty that the principal of the business signed. Strategies for dealing with Good Guy Guaranties are discussed below. Jim Shenwick, Esq has represented over 500 tenants in commercial lease negotiations and he has an active bankruptcy and workout law practice. BACKGROUND In New York City, most commercial tenants are corporations or limited liability companies, and these entities are the tenants on the commercial office leases. The principal or principals of the corporation or LLC are almost always required to guarantee the lease in New York City. In New York, there are two types of lease guarantees. The full or complete guarantee of rent payment or the GOOD GUY GUARANTY, which is a specialized form of guarantee that can be limited in duration, if certain conditions enumerated in the GOOD GUY GUARANTY are met.As example, under a  full or complete guarantee, if a tenant fails to make lease payments for 6 months and owes $50,000 for the remaining term of the lease, the Landlord can sue the guarantor for $50,000. A second type of guarantee is known as a Good Guy Guaranty, which limits the principal's exposure under the guarantee. To be a “good guy” means that the tenant vacates the space and delivers possession to the Landlord and the guarantor complies with the terms of the Good Guy Guaranty. Below is an example of how GOOD GUY GUARANTY operates.The GOOD GUY GUARANTY  commonly provides that the guarantor’s financial exposure terminates when the following conditions are met: 1. the tenant sends notice to the Landlord that it is vacating the leased space (the notice required is generally 90 to 120 days), 2. the tenant must be current on  rent, when it sends the notice to the Landlord or when it vacates the space, 3.the space must be left “broom clean” and 4. keys for the office must be delivered to the Landlord. If all four conditions are met, the guarantor is released from liability under the Lease. In the event that the 4 conditions are not met, the guarantor remains liable until the lease expires. If a tenant closes for business or files for bankruptcy, and the conditions for the Good Guy Guaranty are not satisfied, the Landlord can or will sue the guarantor.  The statute of limitations is 6 years.What can the Good Guy Guarantor do?The Good Guy Guarantor can engage in asset protection planning, prior to entering into the GOOD GUY GUARANTY or prior to terminating the lease, provided that that planning is allowed under  New York State law and not a fraudulent conveyance.   The Good Guy Guarantor can file for chapter 7 bankruptcy to discharge the monies owed under the Good Guy Guaranty.The Good Guy Guaranty can engage in workout negotiations with the landlord and/or threaten a bankruptcy filing  orThe Good Guy Guaranty can do nothing and hope that the landlord does not sue the guarantor.The optimal strategy depends on the facts and circumstances of each case and involves a thorough review of the lease, the guarantee and the financial situation of the guarantor. Clients who have guaranteed leases can contact Jim Shenwick, Esq. 212 541 6224 jshenwick@gmail.com to discuss their options.

    In a case that can make a difference in a number of chapter 13 cases, Judge Mark in the Southern District of Florida ruled that when an amended means test is filed in chapter 13, the standard expenses allowed on the means test should be those in effect on the date the amendment is filed, not those in effect when the bankruptcy was filed.  In re Mosley, 2022 Bankr. LEXIS 3219, Case No 19-15907-RAM (Bankr. S.D. Fla., 15 November 2022).  The case came before the court initially on a request by the Debtor to modify the confirmed plan based on an increase in the ongoing payment to their condominium association, which was being paid through the plan.  The order confirming plan had included a provision requiring an obligation to verify ongoing income if income increased by more than 3% over the prior year.  As the debtor had received a $12,000 raise in 2021, which exceeded this figure, she was obligated to verify her income, which including filing an updated means test.  The legal basis of requiring updated income information is 11 U.S.C. §1325(b)(1)(B), which requires a debtor to devote their projected disposable income to unsecured creditors in order to confirm a chapter 13 plan.  This figure is computed by the means test form, which includes a limit on certain expenses per the National Standards and Local Standards published by the IRS.   When the case is filed, these figures are those in effect as of the filing of the case.  However, as those standards change over time, the issue in the case was whether an amended means test would use the limits as of the date of filing, or the limits as adjusted since the case was filed.  Judge Mark found that logic and fairness requires that the courts allow debtors to calculate disposable income per the means test using the allowed expenses as of the date of the amendment, which often includes an increase in allowed expenses for those set by the IRS standards.  The court gave an example of a debtor with a 5% raise in a given year, when the IRS standards increase by 5%, such debtor should not be required to increase the dividend to unsecured creditors.   The decision seems a triumph of logic and common sense in a field where too often the contrary prevails.Michael BarnettMichael Barnett, PA506 N. Armenia Ave.Tampa, FL 33609-1703813 870-3100https://hillsboroughbankruptcy.com

Sometimes debtors get buyer's regret after filing a bankruptcy petition.  However, once a bankruptcy petition is filed, it remains on the debtor's credit for ten years. One debtor sought to throw his attorney under the bus by claiming that the bankruptcy filing had never been authorized. Fortunately the debtor's attorney had retained his client's wet signatures and text messages which protected him from the Court's Order to Show Cause. In re Wilson, 2022 Bankr. LEXIS 3378 (Bankr. D. N.J. 11/30/22).  What HappenedOn December 3, 2019, attorney Fred Braverman filed a chapter 13 petition for Charlie Wilson. The case was later dismissed on February 27, 2020 after the debtor failed to prosecute the case.  Several years later, the Debtor was attempting to refinance his mortgage and found out that the bankruptcy filing on his credit report impacted his credit score. After asking his attorney to remove the bankruptcy from the public record, on August 26, 2022, the Debtor wrote a letter to the Court. In the letter, the Debtor alleged that he had told his attorney not to file the bankruptcy case and "was not aware that Atty. Braverman proceeding to file the Chap. 13 case anyway . . . and without our knowledge."The Court was rightfully concerned that a petition might have been filed without the client's authority and issued an Order to Show Cause. Both Attorney Braverman and the Chapter 13 trustee filed responses to the Order to Show Cause. The Court's FindingsThe Court found that the Clerk had sent at least five notices to the Debtor and that none of them had been returned as undeliverable.  The Chapter 13 trustee stated that she had mailed a "welcome letter" advising the debtor of the materials needed for the 341 meeting.  The Court found that Attorney Braverman's response "is more damning." Attorney Braverman protected himself by producing:copies of the wet ink signature pages of the bankruptcy petitiona screen shot of a text message urging him to file the bankruptcy petition to avoid a wage garnishmenta screen shot of a text message thanking him for filing the bankruptcy petitiona hand-written note from the debtor providing information to contact his payroll officea screen shot of a text message on December 27, 2019 indicating that he was having second thoughts about proceeding with the bankruptcy case.Attorney Braverman also testified as to his phone conversations with the Debtor.The Court's RulingThe Court noted that there was a split of opinion as to whether a bankruptcy petition, once filed, can be removed from the record, even if it was filed without permission. The Court noted that this would be an extraordinary remedy. The Court went on to state that "Mr. Wilson's regret, three years after the fact, of the filing the bankruptcy case is not the kind of circumstance that merits an extraordinary remedy." It also stated:It is clear that Mr. Wilson authorized this bankruptcy filing. He sent messages to Mr. Braverman urging him to file the case as soon as possible to stop garnishment of his wages. Mr. Braverman produced a copy of the wet-ink signature page of the petition.  If authorization exists courts usually do not expunge the petition.  Messages from Mr. Wilson regarding changing his mind about bankruptcy were not sent until the 27th of December, 24 days after the bankruptcy commenced and after numerous notices regarding the bankruptcy had been served on Mr. Wilson. Nothing in the Bankruptcy Code allows the court to relieve a filer's remorse. Opinion, pp. 17-18 (cleaned up).  Why It's ImportantToo often, opinions feature attorneys behaving badly. This could have been one of those cases if Attorney Braverman had failed to respond to the Order to Show Cause or if he had failed to preserve the wet signatures.  One case cited by the Court stated that "failure to produce the wet signature on a petition leads to the conclusive presumption that the signature does not exist." In re T.H., 529 B.R. 112, 120 (Bankr. E.D. Va. 2015). Attorney Braverman also protected himself by preserving his text messages with the debtor.  In this case, the record reflects that Attorney Fred Braverman not only complied with his responsibilities under the Bankruptcy Code but practiced good defensive law as well. Other attorneys would do well to follow his example.   I am a little disappointed that the Court let the debtor get off so easily. The debtor's representations to the court were not just erroneous but appear to be fraudulent as well. Even if the Court did not find that sanctions were appropriate it should have cautioned the debtor about the seriousness of  lying to a federal bankruptcy judge. However, even without such an admonishment, if Mr. Wilson files bankruptcy in the future, there is a record of his attempt to mislead the court.  

 Reuters is reporting that U.S. appeals court rejects Biden's bid to revive student debt plan. The article can be found at https://www.reuters.com/world/us/us-appeals-court-rejects-bidens-bid-revive-student-debt-plan-2022-12-01/Jim Shenwick, Esq.

Going from one type of income to another can be hard for disability benefit recipients in Pennsylvania and New Jersey. If you’re finding the transition difficult, our attorneys can help. Surviving on Social Security Disability Insurance (SSDI) income might initially be a challenge for recipients in Pennsylvania and New Jersey. It may take time to become accustomed to a different payment schedule and income, so contact our attorneys if you’re having difficulty. If your monthly payments aren’t enough to support you and your family, you may be able to take on a part-time job. However, the Social Security Administration (SSA) limits how much disability recipients can earn in additional income. If your first check from the SSA doesn’t appear correct, tell our attorneys, and we can contact the SSA so that you start receiving the proper amount. Our team is here to help people in Pennsylvania and New Jersey get the SSDI benefits they deserve. For a free case evaluation with the Pennsylvania and New Jersey disability lawyers at Young, Marr, Mallis & Associates, call today at (215) 515-2954 or (609) 557-3081. How Do You Survive Financially on Disability in Pennsylvania and New Jersey? Adapting to monthly Social Security Disability Insurance checks can be challenging for recipients in Pennsylvania and New Jersey. Our attorneys can help you understand the way these payments are structured and what your monthly payment might be so that you can properly prepare for the change. When people in Pennsylvania and New Jersey are approved for disability benefits, they will receive payments within five months. Depending on the time it took for the Social Security Administration to review your claim, you may be entitled to back pay. This can help SSDI recipients who are without incomes for the time it takes their claims to be reviewed. To easily survive financially while on SSDI payments in Pennsylvania and New Jersey, preparation is key. It’s wise to begin by estimating your monthly benefit. A recipient’s SSDI payment will be based on their earning record. Generally, those who have worked longer qualify for a larger monthly benefit from the SSA. Because SSDI benefit recipients get checks monthly and not bi-monthly, they may have to change their approach to managing their finances. Our Pennsylvania disability lawyers can help you restructure your finances so that your bills and other expenses are paid on time according to your new income schedule. How Long Can You Stay on SSDI in Pennsylvania and New Jersey? In many cases, SSDI benefit recipients can get monthly disability payments until they reach retirement age. However, if you no longer meet the criteria for disability benefits in Pennsylvania and New Jersey, your monthly payments may stop. Social Security Disability Insurance benefits are designed to replace income for those unable to work because of a qualifying illness, injury, or disability. Because of that, many SSDI benefit recipients in Pennsylvania and New Jersey can receive monthly payments until they reach retirement age. At that point, your monthly payments will change from SSDI benefits to retirement benefits. If you run into any issues during this transition, reach out to our New Jersey disability lawyers. If you continue to meet the eligibility criteria for SSDI benefits in Pennsylvania and New Jersey, you can receive them until you reach retirement age. However, if you earn too much in additional income or your condition improves, no longer qualifying you for benefits, your monthly benefits may cease entirely. What if Your Disability Benefit is Not Enough in Pennsylvania or New Jersey? Disability benefits may not be identical to your previous income before you were diagnosed with a qualifying disability, illness, or injury in Pennsylvania or New Jersey. If your monthly benefits are not enough to support you and your family, you may be able to earn additional income up to a point. Those who receive disability benefits in Pennsylvania and New Jersey might find their monthly benefit isn’t enough. In that case, you might be able to take on a part-time job and earn additional income. If you’re considering doing this, be sure to speak with our Quakertown disability lawyers first. The Social Security Administration only allows SSDI benefit recipients to earn a certain amount in additional income each month. In 2023, the substantial gainful activity (SGA) limit for non-blind individuals is $1,470 per month. For blind recipients, the SGA limit in 2023 is $2,460 per month. Earn over the SGA limit in additional income in a month, and the SSA may revoke your benefits. Social Security Disability Insurance benefit recipients with part-time jobs should also be aware of trial work periods (TW Ps). If you earn over $1,050 in additional income in a month, a TWP will automatically be triggered. After nine months of earning over the TWP limit, SSDI benefit recipients in Pennsylvania and New Jersey might lose their benefits. Our attorneys can identify a TWP and take the necessary steps to reinstate your SSDI payments if they’re in jeopardy. Can You Increase Your SSDI Benefit in Pennsylvania or New Jersey? Once the Social Security Administration calculates your monthly Social Security Disability Insurance benefit amount, there’s not much you can do to change it. However, if the SSA makes a mistake, our attorneys can step in to make sure you receive the amount you deserve each month. Monthly SSDI payments are calculated based on a recipient’s earning record. Generally, those close to retirement are the only ones eligible to receive the maximum monthly benefit. In 2023, that amount is $3,627 per month. If you were recently approved for SSDI payments in Pennsylvania or New Jersey, and your first check appears incorrect, reach out to our attorneys. Our Trenton disability lawyers can assess your earning record to determine if the SSA’s calculations are accurate. If they’re not, we can reach out to the SSA so that your monthly benefit is corrected. Call Our Lawyers About Your SSDI Claim Today If you wish to apply for SSDI benefits in Pennsylvania or New Jersey, our attorneys can help. For a free case evaluation with the Mount Laurel disability lawyers at Young, Marr, Mallis & Associates, call today at (215) 515-2954 or (609) 557-3081.

On Nov  17, 2022 the Biden Administration announced a new path to Discharging Student Loan Debt in Bankruptcy, without commencing an Adversary Proceeding (litigation in Bankruptcy Court).  The New York Times has a story on this topic that can be found at https://www.nytimes.com/2022/11/17/your-money/bankruptcy-student-loans.htmlThe new path “outlines a better, fairer, more transparent process for student loan borrowers in bankruptcy,” according to Associate Attorney General Vanita Gupta. Once enacted, the guidance will make it easier for attorneys at the Justice Department and Education Department to identify cases in which Federal student loans may be discharged.The New York Times article states that under the new guidelines, debtors will complete an "attestation form" that the government will use to determine whether a discharge should be recommended for Federal Student Loans. A Debtor will have to demonstrate hardship, such as having expenses that exceed their income or having a mental or physical disability that prevents them from repaying the loan. In such cases, the government lawyers will recommend a full or partial discharge of the debtor's student loans.Student loans can only be discharged under the current system by filing for personal bankruptcy and then filing a lawsuit or adversary proceeding.Adversary proceedings are expensive and difficult to pursue, and according to experts less than 1 percent of personal bankruptcy filers try to discharge their student loans.The attestation form will replace the adversary proceeding for federal student loans, so more debtors will be able to discharge their loans. Shenwick & Associates will close following these developments, and anyone with questions should contact Jim Shenwick, Esq.  jshenwick@gmail.com  212-541-6224

Despite what logic might have told us, the two years following the COVID-19 pandemic had record-low numbers of personal bankruptcy filings. As people tightened their purse strings and relied on government and charity programs to make it through difficult times, fewer families needed the help of the bankruptcy court. However, the trend has turned around+ Read More The post Why is Personal Bankruptcy on the Rise After the Pandemic? appeared first on David M. Siegel.