Modification of Visitation Order
Has there been a sufficient change in circumstances?
Recently, we have received calls regarding the possibility of modifying a court order of visitation. A lot of people are unclear about whether you can modify a custody order, similar to the way a custody order can be modified. The truth of the matter is that a visitation order can be modified for the proper change in circumstances. Uncovering whether or not the change in your own circumstances would be considered sufficient in the eyes of the court can be a difficult process.
Long Island Divorce Attorney
If you are have concerns about your visitation schedule and think that you may have a good reason to modify it, please call the Law Firm of Vaughn, Weber & Prakope, PLLC at 516-858-2620 to speak with a family law attorney today!
Mortgage Forgiveness Debt Relief Act
Some Good News for Troubled Homeowners
The Senate Finance Committee approved the extension of the Mortgage Forgiveness Debt Relief Act of 2007. This is a good sign that the Mortgage Forgiveness Debt Relief Act will be extended. For those unfamiliar with the Mortgage Forgiveness Debt Relief Act of 2007 :
Usually, when a debt is forgiven or reduced, the lender is usually required to report the amount of the canceled debt to you and the IRS on a Form 1099-C. The amount forgiven or reduced is considered income. Like all income, this amount will be taxed. During the housing crisis, many homeowners facing foreclosure have been able to modify their mortgages or complete a short sale of their home. And sometimes a lender will forgive a portion of the principle. The amount forgiven would normally be considered income, and would be taxed. For example, if a bank forgave $50,000 of a mortgage debt, the homeowner would owe income tax on that $50,000. That would be hard on people that are already struggling, and would potentially defeat the purpose of the modification. Congress saw that this was a problem, and, in 2007, enacted a law exempting the amounts forgiven by mortgage companies from income tax. This law is set to expire on December 31, but the Senate Finance Committee recently voted to extend it. This is good news for homeowners facing foreclosure, but not great news. More still needs to be done!
If you have questions about this or other legal issues, call the Law Firm of Vaughn, Weber & Prakope, PLLC at 516-858-2620 to schedule a free consultation.
Deferred Action Plan
Today is the day that the Deferred Action Plan takes effect. The Deferred Action Plan provides young immigrant students with a method of applying for legal status in the United States. The plan has been much talked about in the news lately as the anticipation of the plan’s arrival grew. Now it is here. The following is a link to the article that appeared in today’s New York Daily News by Albor Ruiz:
August 15, 2012, New York Daily News
As always, if you are an undocumented immigrant student who has questions about applying for the deferred action plan, call 516-858-2620 to speak to an Immigration Attorney today!
Settle Student Loans
You May Be Able To Settle Student Loans
First, it really helps if the student loan you want to settle is a private student loan (not a government issued loan).
Second, as with debt settlement in general, it usually helps if you have a lump sum you can use to pay the agreed upon settlement amount. However, a lump sum is not always required. Some lenders will allow a payment plan.
Lastly, you want a no-interest payment plan with a repayment term and a monthly payment that works for you.
Important Note: You may be able to settle your student loan debt even if you are already being sued for repayment!
The Law Firm of Vaughn, Weber & Prakope, PLLC can assist you with Student Loan Settlement and other Student Loan issues. Call (516) 858-2620 to arrange a FREE consultation with an attorney!
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