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Queens Bankruptcy Attorney Bruce Feinstein Esq.'s
Bankruptcy Blog

Detroit’s Landmark Municipal Bankruptcy Raises Questions Nationwide

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

A vacant blighted home is seen next to a well-kept occupied home on West Grand Boulevard in Detroit, Michigan July 23, 2013. REUTERS/ Rebecca Cook

What Does Detroit’s Bankruptcy Filing Mean for City Workers and Residents?

My team and I have been keeping a close eye on the ongoing bankruptcy drama unfolding in Detroit. I previously wrote a post about the city appointing a bankruptcy lawyer, Kevyn Orr,  and recent events have had clients wondering how a city’s bankruptcy filing could affect its greatest asset: its residents.

When it comes to municipal bankruptcy, our office are asked to answer questions about how it can impact communities and public workers. On Wednesday, a federal judge permitted the city of Detroit’s bankruptcy case to go forward after it was challenged by union and pension fund lawyers –  so the challenges facing the city have been front and center on the headlines and people’s minds.

It’s time to Overhaul of Student Loan Debt and Bankruptcy

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

discharge student loan debt in bankruptcy

Why is it so Hard to discharge Student Loan Debt in Bankruptcy?

There has been much debate over the issue of student loans in America in the past few months, and lawmakers and legal professionals are weighing in on the issue. The National Association of Consumer Bankruptcy Attorneys (NACBA) has several strong articles that support making student loans dischargeable in a bankruptcy. I am in agreement with NACBA –   student loans should be dischargeable in order to provide much needed relief for recent graduates, their families, and their communities. 

Jefferson County Alabama Finally Reaches Bankruptcy Deal

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

Jefferson County Alabama Finally Reaches Bankruptcy Deal

In a historic bankruptcy case, Alabama’s financially distressed Jefferson County says it has finally reached an agreement to refinance the majority of its debt.

The county will save hundreds of millions by refinancing and set it up to break free from bankruptcy in months to come.  Before the county can rid itself of bankruptcy, it must overcome several obstacles and be looked over by a federal bankruptcy judge.  This is scheduled to commence this Wednesday.

All-Electric Vehicle Company Coda Files for Bankruptcy to Re-Focus Business on Energy Storage

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

Coda Car

With a single-charge range of only 90-125 miles, it may not come as a complete surprise that the green auto-maker, Coda Holdings, only sold 100 of it’s sedans and filed for Chapter 11 bankruptcy protection.

Coda’s plan is to re-focus their business on energy storage, which has far fewer research and development costs. Coda will be able to use the same energy storage mechanisms they put in their failed sedans into systems for buildings and utilities.

Federal Bankruptcy Judge Asked to Ban Girls Gone Wild Founder Joe Francis From Corporate Offices

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

Joe-Francis-Girls-Gone-Wild-Creator-joe-francis-33081328-470-313

A federal judge was asked to ban Joe Francis, the founder of the soft-core Girls Gone Wild franchise, from the company offices. The trustee running the company alleges he is a violent man who has threatened company employees.

According to papers filed by the bankruptcy trustee R. Todd Neilson, Francis threatened GGW Brands LLC employees with “violent acts”. Girls Gone Wild filed bankruptcy after a lawsuit involving Wynn Las Vegas LLC and others last February.

How to Deal with Back Taxes Owed to the IRS

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

How to Eliminate Tax Debt

Can you discharge back taxes in bankruptcy?

Many Americans are very aware of April 15th – the day income tax returns are due to the federal government. This day has come and gone, so why are we still talking about taxes? Because many people are still worrying about back taxes owed to the IRS that they cannot pay.

For those left with questions about their unpaid taxes and how to handle them, you are not alone. An estimated 17% of taxes go unpaid each year in the United States. Our office works with people in similar situations to provide answers about this topic, and to help explain taxes’ role in the bankruptcy process.

Detroit Appoints Bankruptcy Lawyer to Save City

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

detroit appoints  bankruptcy lawyer

Can a City go Through Bankruptcy?

 Speaking from behind a podium with a sign saying “Detroit Can’t Wait,” veteran lawyer Kevyn Orr spoke to reporters and citizens about his plan to bring the financially ailing city from the brink of bankruptcy. Orr is currently acting as an emergency manager of Michigan’s former capital, operating with many of the same powers as a bankruptcy judge in lieu of putting the city through an official bankruptcy process.

Understanding Chapter 13 Bankruptcy Payment Plans

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

chapter 13 bankruptcy payment plan

What Exactly is a Chapter 13 Payment Plan?

When you file for a Chapter 13 bankruptcy, you’re making plan to maintain ownership of your assets while paying off your debt to creditors over time. But not all debt is the same…and what if you can’t make your payments on time? We decided to answer some common Chapter 13 questions that our clients often have in this post.

Learning About Secured Debts and Redemption in a Chapter 7 Bankruptcy

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

chapter 7 bankruptcy secured debt common bankruptcy myths

What are Secured Debts and Redemption?

We handle many Chapter 7, or “liquidation” bankruptcies at our Queens, New York office. In this kind of bankruptcy, an appointed trustee sells a debtor’s non-exempt assets, with the proceeds going to the client’s creditors. The individual’s debt is then eliminated alltogether or drastically reduced. We tell clients that certain exemptions can protect their assets during  Chapter 7 proceedings, and that they can also keep certain secured property by paying the replacement value of it to creditors. This approach is especially helpful for people who owe more on their loans than the current value of their property. In this post we go into more depth about secured debts, redemption, and Chapter 7 bankruptcy.

Areas We Serve

The Law Offices of Bankruptcy Attorney Bruce Feinstein, Esq. handles cases from all over New York including: Queens, Manhattan, Brooklyn, Bronx, Nassau County and Suffolk County Long Island

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