Tag Archives: Saginaw bankruptcy attorney

Automatic Stay

November 22, 2013  |   Posted by :   |   Bankruptcy   |   0 Comments

What is the automatic stay in bankruptcy?  It is an order issued in a bankruptcy court which prohibits creditors from making any collection efforts, to include prohibiting garnishments of wages or bank accounts, seizures, foreclosures, telephone calls, collection letters etc.  The automatic stay is enforced by a federal bankruptcy judge.  If creditor violates the automatic […]

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Taxation of Cancellation of Indebtedness for Mortgages

October 13, 2013  |   Posted by :   |   Bankruptcy   |   0 Comments

Under the Internal Revenue Code Section 61(a)(12), cancellation of indebtedness (known as “COD”)  is considered taxable gross income.   People with distressed mortgages may be issued a 1099 by their mortgage company in several situations. (If you get the 1099, then the IRS presumes that it is income that must be reported on your tax […]

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Property Law 101

May 08, 2013  |   Posted by :   |   Bankruptcy   |   0 Comments

We frequently get calls from tenants and persons losing their homes to foreclosure who are concerned that their landlord or mortgage company can show up and simply lock them out.   It is an absolute rule, that you cannot be evicted from your home without a court order.  Period.  In fact, if your landlord or […]

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Nye Opens Saginaw Office

May 08, 2013  |   Posted by :   |   Nye   |   0 Comments

Nye & Associates recently opened an office at 4015 State St., Saginaw, MI, which is on M-58 in Saginaw Twp. The office is located in the Michael Hall Law Office Building. The new office is a perfect fit to the firm’s busy practice.  Nye frequently represents clients in the Saginaw County circuit court and all […]

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