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Bankruptcy Blog

Bruce Feinstein, Esq. Quoted in New York Times “Life After Bankruptcy” Article

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

Queens Bankruptcy Attorney Bruce Feinstein, Esq. Quoted in the New York Times

How long do you have to wait to qualify for a mortgage after bankruptcy?

 The New York Times called upon Queens bankruptcy attorney Bruce Feinstein, Esq. for his expertise and insight for their recent article, “Mortgages – Life After Bankruptcy.” Journalist Vickie Elmer interviewed Mr. Feinstein for the piece, which examines some common myths surrounding life after bankruptcy and obtaining a mortgage after a Chapter 7 or Chapter 13 filing.

Banks Forgive Previously Discharged Home Loan Debts

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

What have major banks been doing for borrowers since the mortgage crisis?

Thousands of Americans with home loans recently received notices in the mail from their banks, saying things like, “We are canceling the remaining amount you owe Chase!” and “You are approved for a full principal forgiveness of your Home Equity Account.” That all sounds well and good, but there is a problem: many of these individuals don’t owe the money anymore. They filed for bankruptcy and had that same debt wiped out, oftentimes several years ago.

Dangers Surrounding the Student Loan Bubble in America

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

student loan debt

Just how bad is the student loan bubble in the U.S., and how will that affect us?

Many of us know that student loan debt is an important issue: we read about it in the news, politicians disagree about what they are going to do to solve it, and we hear the term “student loan bubble” used by the media. But is it all hype? How bad is the student loan debt situation in the U.S.?

Two Secrets You Need to Know About Bankruptcy

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

Two Secrets You Need To Know About Bankruptcy

What are some common myths surrounding bankruptcy?

We have had experiences with clients who come to the office feeling like they are alone – they are ashamed to consider filing for bankruptcy because of the misconceptions surrounding debt relief. And it is common to hear someone dismiss those who go through bankruptcy as being frivolous spenders who are bad with money and are somehow taking advantage of the legal system. But this is the wrong way to see bankruptcy. Let’s look at a couple secrets surrounding debt relief that will help change the way we view it.

Special Effects Giant Digital Domain’s Assets Fetch $30 Million Bid During Bankruptcy Auction

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

Digital Domain Auctions Assets During Bankruptcy Auction

Advantages to selling off assets during a bankruptcy

Digital Domain Media Group accepted a bid by a joint venture spearheaded by Beijing Galloping Horse Film & TV Production Co Ltd and Reliance MediaWorks to purchase over $30.2 million in assets as part of the company’s Chapter 11 bankruptcy proceedings. The sale is scheduled to be finalized by both parties and approved by the bankruptcy court. This case offers an example of selling off assets during a bankruptcy in order to repay debts to creditors.

Discharging Student Loans in Bankruptcy is Possible, but Not Easy

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

Is it worth it to try to discharge student loan debt?

When you are facing financial difficulties, you may be one of the hundreds of thousands of people whose troubles also include student loan debt. We often hear the same stigma surrounding student loan debt: it’s impossible to get rid of. And while the process of discharging student loan debt is tedious and has a lower success rate than other kinds of debt, that doesn’t mean you shouldn’t consider it. There are those who are able to get rid of this debt and better their financial situations.

The Realities of Getting a Mortgage After Filing Bankruptcy

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

Will I ever get a mortgage after I file for bankruptcy?

Many of our clients, and prospective clients, express serious concerns about how easy or difficult it is to get a mortgage after filing for bankruptcy. After all, it is no secret that a bankruptcy filing will appear on your credit report for up to 10 years (7 years for a Chapter 13).

While it can be difficult to obtain a mortgage after a bankruptcy filing, it is by no means impossible. Our offices have had many clients that were able to secure a mortgage for a new or used home even after filing for bankruptcy. The question remains, “What can I do to prepare for applying for a mortgage knowing that I have a bankruptcy on my credit report?”

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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