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Posts Tagged ‘chapter 11’

Improving Credit Scores After Bankruptcy

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

improving credit scores after bankruptcy

Why are credit scores so important, and how can you improve them after bankruptcy?

Our clients who file for bankruptcy in Queens and throughout New York want to see the future as a place of possibility, and an opportunity to create a new chapter in their lives.  Life after bankruptcy is not a complete reset, but it can be an amazing time to make changes that will get you on the right path toward fiscal responsibility. One such change is understanding the importance of your credit score and knowing how to improve it. There are steps you can take, now and in the future, to ensure a safer financial future.

Fixing Credit Score Errors – Good for Your Fiscal Future

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

CreditScore

Can Errors on Your Credit Score Affect Your Financial Health?

When clients come to our office they are looking for debt relief. This may mean stopping a foreclosure, removing a lien, or going through a Chapter 7 or Chapter 11 bankruptcy. Our clients often want to improve their credit, but there may be more factors affecting their credit scores than missed loan payments.

In a recent study by the FTC (Federal Trade Commission) from December 2012, the findings state that one in four credit reports have errors. So along with the other best practices we share our clients to ensure fiscal health and responsibility, we also support keeping a close watch on the information used by credit agencies to make their scores about you.

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.

The Truth About Bankruptcy and Your FICO Score

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

The Truth About Bankruptcy and Your FICO Score

What Will Bankruptcy Really do to my FICO Score?

When people face the prospect of filing for bankruptcy in Queens, one of their top concerns is often how bankruptcy will affect their FICO score. FICO, or Fair Isaac Corporation, scores are credit scores the majority of lenders use to determine your potential credit risk. The myth surrounding bankruptcy and ruined credit scores is well established, but not fact. Bankruptcy has the possibility to lower your credit score, but this is by no means the bottom line. Not only are many other factors at play, but your score may actually improve when you file for bankruptcy.

Commercial Bankruptcies Fall 22% in 2012

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

Commercial Bankruptcies Fall 22% in 2012

What do 2012 Bankruptcy Rates Mean for 2013?

While many Americans are focused on keeping their financial resolutions in the New Year, there are some positive signs from 2012 that bode well for 2013. Figures from the American Bankruptcy Institute (ABI), a non-partisan group that analyzes bankruptcy issues, show that 57,788 commercial bankruptcies were filed during the 2012 calendar year, a 22% decrease from 74,415 filings in 2011. This trend was also mirrored in Chapter 11 bankruptcies for 2012, which fell 10% from 8,658 filings in 2011 to 7,760.

Interfaith Medical Center in Brooklyn Files for Chapter 11 Bankruptcy

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

Interfaith Medical Center Files for Bankruptcy

What happens when a hospital goes bankrupt?

Interfaith Medical Center in Brooklyn, a local hospital serving Bedford-Stuyvesant and Crown Heights residents, filed for bankruptcy protection after years of financial trouble.

The hospital services a quarter of a million residents in the area, mainly those of African and Caribbean descent. Instead of merging with another company it decided to file for Chapter 11 bankruptcy to keep its doors open.

Elizabeth Warren’s Senate Victory Highlights Her Bankruptcy Policies

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

How Will the Newly Elected Senate Affect Bankruptcy Laws?

Next month will see a record number of women enter the U.S. Senate – 20 in total – and there is sure to be important financial policy change coming out of this Democratically held legislative body. One woman who is creating some early buzz is Elizabeth Warren, the Democratic Senator-elect of Massachusetts. Her experience as a bankruptcy law expert makes her a strong advocate for consumer protection, and we should keep an eye on her plans for the Senate when the next session begins in 2013.

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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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