TAMPA INSURANCE DEFENSE
At the Galewski Law Group we take the same pride and dedication exhibited in our sophisticated
corporate practice and shift it to our insurance defense practice. When represented by a GLG
attorney, the insurance company and the adjuster will know that they are offered the highest
level of legal protection. Beyond legal know-how, we at GLG have already proven ourselves in
the Federal Court System. This background brings to insurance defense legal counsel above
the theatrics and petty problems normally associated with overly aggressive plaintiffs attorneys.
At GLG we do not tolerate violations of legal etiquette or rule. This gives our clientele comfort
and protection that they need to feel comfortable in dealing with what otherwise may be an
unpleasant opposing counsel.
This time and dedication is not without cost, however through the use of flat fee arrangements
and similar alternative billing systems, we have been able to absorb this cost and provide the
utmost protection and service to our clients. Similarly, since we will work with alternative billing
arrangements, not only have we removed the need for fee auditors and fee adjustments, but we
create an environment which fosters expedient, efficient resolution of claims.
Tampa Attorney
GALEWSKI LAW GROUP, P.A.
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Tampa Bankruptcy Attorney’s Update to the Bankruptcy Mortgage Reduction or Bankruptcy Mortgage Modification
Amendments:
Senate Rejects Mortgage Cramdown Provision
The Senate defeated by 51 to 45 votes an amendment to the Helping Families Save Their Homes Act that would have granted bankruptcy judges broad
authority to modify the mortgage terms for at-risk homeowners.
Assistant Senate Majority Leader Dick Durbin, D-Ill., chief sponsor of the ‘cramdown’ provision, said he was disappointed with the vote but would continue to
bring the issue to the floor “until the Senate decides to put the interests of homeowners above the interests of bankers.” Durbin noted that the number of
homeowners at risk of losing their homes now stands at over eight million, compared to nearly two million only two years ago.
“We’ve given the bankers who got us into this crisis every opportunity to responsibly address this crisis and they have failed,” Durbin said.
The White House said that notwithstanding the Senate vote on the Durbin amendment it looks forward to working with Congress to craft “appropriately tailored
legislation to provide a mechanism for homeowners who are out of other options to file for bankruptcy and implement a responsible plan to pay the debts that
they are able to pay.”
Meanwhile, Senate Minority Leader Mitch McConnell, R-Ky., said the provision would have lead to higher interest rates and even greater uncertainty in the
housing and credit markets. “It’s clear that we cannot fix the housing problem by implementing bad policies,” he said.
The American Bankers Association agreed, noting that Congress and the administration have taken several strong steps to help troubled borrowers and get
the economy back on track. “Giving bankruptcy judges broad cramdown authority would work against those efforts and effectively undermine the goal of
stabilizing the housing market,” the association said.
Analysis: Your Tampa Bankruptcy Lawyer notes that this means that for the time a Bankruptcy cannot be used to
reduce the principal amount due on a first mortgage, but since the House has passed the Bankruptcy Reform Bill,
it is possible that a Bankruptcy Judge may have the authority to cramdown or modify a mortgage in the near
future.