Paul Ryan to Propose Sweeping Consolidation in Antipoverty Pitch

Paul Ryan to Propose Sweeping Consolidation in Antipoverty Pitch
His plan to consolidate antipoverty efforts is the main element of a sweeping set of proposals that he is unveiling Thursday to address incarceration, education aid, the Earned-Income Tax Credit and many other federal programs. Mr. Ryan believes the …
Read more on Wall Street Journal

Exelon Announces Second Quarter 2014 Results
“Exelon achieved earnings above our guidance range this quarter, and all of our businesses continued to deliver strong operating performance,” said Christopher M. Crane, Exelon's president and CEO. “With our year to date results, we are on track to …
Read more on MarketWatch

After Crumbs Bake Shop, Inc.’s Bankruptcy News Queens Bankruptcy Attorney Bruce Feinstein, Esq. Evaluates the Importance of Chapter 11 Reorganizations For Small Business

Queens, NY (PRWEB) July 14, 2014

Bankruptcy is a way for individuals to drastically reduce and pay off their debts. But it is also a form of financial relief for businesses. Bruce Feinstein, Esq. has practiced bankruptcy law and represented clients in Queens, NY for over 15 years, and he is honing in on small- and mid-sized businesses to offer help and financial relief. Many troubled businesses are looking to Chapter 11 plans to help them, such as the famous Crumbs Bake Shop, Inc., according to a July 11, 2014 article by the Wall Street Journal. Mr. Feinstein is sharing information about the Chapter 11 reorganization plan so that business owners can learn more about the process and the ways they can get the assistance they need.

Chapter 11 is a form of reorganization primarily utilized by businesses. It is also commonly called “corporate bankruptcy” or “reorganization bankruptcy.” This plan helps corporations and individuals restructure their finances in a beneficial way. One benefit to Chapter 11 bankruptcy is that it does not have a debt limit like a Chapter 13 plan. So if a business is facing insurmountable debt, it may be able to file for protection under Chapter 11.

Another benefit to Chapter 11 is that an “automatic stay” is set in place the moment the bankruptcy process begins. This means that the business is protected from creditors attempting to collect money, as well as litigation, for as long as the automatic stay is imposed. “The automatic stay is a great form of protection for a businesses, since it allows the owner to focus on the bankruptcy process and not get bogged own with creditor calls and other legal action,” says Mr. Feinstein.

During the Chapter 11 process, the debtor can operate as a “debtor in possession,” which means that they act as a trustee of the business and remain in control of its everyday operations. The debtor can work towards making the business profitable again while undergoing financial reorganization and paying off the debt. Reorganization may include taking on loans from new lenders or canceling unfavorable contracts, and the entire process can take anywhere from a few months to several years depending on its complexity.

One of the most important elements of the Chapter 11 filing is the reorganization plan. When a business first files for bankruptcy, it often operates as a debtor in possession until the plan is created and presented to the court. The plan then needs to be reviewed and approved before it can take effect. “It is important to include the right information in a reorganization plan so that your bankruptcy case can move smoothly,” says Mr. Feinstein. “Properly identifying your debts and having concrete plans on how to repay them is essential, and it helps the court decide which debts are paid in full and which are partial repayments.”

A Chapter 11 reorganization plan should identify and explain each of the business’s debts, including how much and to whom it is owed. The plan also needs to determine which debts will be repaid in full, and which ones will be partially repaid. The business must explain how all of the debts will be paid ,which can include future profits and selling assets. Since the business is allowed to function during the Chapter 11 bankruptcy process, the plan explains how the business will operate while putting the reorganization plan into place.

Once the plan is submitted to the court, the judge needs to approve it, along with all the creditors that will receive partial repayment of the debts they are owed. These creditors are called the “impaired class” of creditors. There are some exceptions to these rules depending on the Chapter 11 case, so it is often best to work with an experienced bankruptcy attorney in Queens, NY to create and submit the best reorganization plan.

Mr. Feinstein also points out that creditors and debtors who violate the reorganization plan are subject to repercussions. “Once in effect, the plan is legally binding, which is beneficial for the business and protects them from creditors,” he says.

Chapter 11 bankruptcy reorganization plans are an effective way for businesses to pay off their debts in a manageable way. It helps reduce debt payments if needed, and helps businesses keep running while they work towards getting out of debt. A bankruptcy lawyer in New York can help draft reorganization plans and make sure they are implemented properly.

The Law Offices of Bruce Feinstein, Esq. has nearly two decades of experience in bankruptcy law, helping clients and families resolve their issues and move forward with their lives. Visit for more information or call (718) 514-9770 to reach the New York office.


Renowned Bankruptcy Attorney in Irvine CA Launches a New Ad Campaign Offering Affordable Flexible Payment Options for Clients

Irvine, CA (PRWEB) October 28, 2013

There are many people who wish to file Chapter 7 bankruptcy in Irvine CA to get out of financial troubles quickly and successfully. However, this option is not affordable for a large number of people out there because of all the fees and charges involved in it. The popular bankruptcy lawyers Zhou & Chini have recently offered a payment plan solution to the residents of the city as demonstrated in his new ad campaign. The “flexible payments” campaign should be successful as it has already attracted a large number of people who want to file bankruptcy to alleviate outstanding amounts to their creditors and clean their credit report. To find out more about filing for bankruptcy, or about the different types of bankruptcy information in California call the law office directly at 888-901-3440

Filing for Chapter 7 bankruptcy is a viable option for a large number of people out there who wish to file bankruptcy individually, and who haven’t used this solution in the past eight. This type of legal procedure helps the debtors to pay off almost all outstanding debts through court proceedings. Some people are able to keep most of their assets and still be able to pay their creditors to come out clean. However, most people find it difficult to afford all the costs attached to such a procedure including lawyer fees and charges of filing the case and collection of all the documents. This situation is prevalent in almost all cities of the state of California United States including Irvine. Because of this, the renowned bankruptcy attorney in Orange County California recently launched an ad campaign in which a highly affordable Chapter 7 bankruptcy solution has been offered to clients. The law firm advertises in the new campaign about flexible payment options based on the client’s needs. A lot of people who were putting off filing bankruptcy due to financial reasons would now be able to benefit from this option and get out of trouble quickly and effectively.

Some people act in this context without consulting a lawyer first. However, it is highly recommended that an Orange County attorney is contacted before filing bankruptcy in order to discuss other available options or alternatives to this legal procedure. An experienced bankruptcy lawyer is able to tell the debtor whether Chapter 7 bankruptcy is suitable for them or not. It is also required to act sensibly after getting relief from the court in order to re-build credit and starting off with a clean slate. These guidelines are also provided by the attorney who has adequate experience in this field and an impressive success record. To learn more about the different bankruptcy Chapters or to find out about California bankruptcy exemptions contact the firm for a no cost consultation.

Chapter 11 and Chapter 13 of the Bankruptcy Code are also practical options for some people but its best to have a lawyer tell which option is most suitable for a particular case. It is advisable to benefit from a no cost consultation and advice given by Zhou & Chini who are willing to help their clients. A person who has been able to cancel all or most of his debts through filing Chapter 7 bankruptcy cannot file a petition again in the next eight to ten years. This rule is widespread throughout the state of California and therefore it is advisable to act prudently after the legal proceedings are over.    

The bankruptcy lawyers in Irvine work with the best SEO professional to assist in internet marketing, and to help promote the message about the importance of speaking with a bankruptcy lawyer in Irvine CA, if someone is considering filing. The firm continues its online presence by offering zero cost bankruptcy information on bankruptcy firm’s blog and social media pages. By promoting across the internet their services online by a local SEO service, along with free consultations the firm hopes to attract more Irvine residents looking for financial relief. To read more about the firm’s bankruptcy attorney Irvine Facebook page visit,

About the Firm: The Law Office of Zhou & Chini servicing the cities and counties of California. He is a graduate of UCLA and has been practicing law since 1999. Mr. Zhou has a wealth of experience in bankruptcy, civil litigation, family law, criminal law and unlawful detainer. Zhou and Chini Law Offices provide bankruptcy assistance to Orange County, Los Angeles, Orange County and San Diego residents. For more information about speaking with an immigration attorney in Orange County CA, call the main office number.

Contact: Ron Chini

Website: info(at)bankruptcyattorneyorangecounty(dot)org

Phone: 888-901-3440

More Bankruptcy Exemptions Press Releases

Legal Helpers Launches Bankruptcy Tip Site at

Boston, MA (PRWEB) March 28, 2007

The decision to file bankruptcy is often stressful and complicated. Legal Helpers selected LifeTips for content development services to help people in debt understand the bankruptcy process, from finding a bankruptcy lawyer to rebuilding credit in the future. Legal Helpers is now the exclusive sponsor of the bankruptcy tip site in the LifeTips network.

“Financial loss is a complicated situation. No one wants to file bankruptcy, but if you have to, rest assured we’ve got the tips to help you through it,” said Byron White, President of “Whether you’re seeking bankruptcy filing information by state, seeking a bankruptcy lawyer, or looking for financial tips to help you recover financially from your bankruptcy filing, the site is your guide.”

Sample Bankruptcy Tip:

What is Chapter 13 Bankruptcy?

“Also called a wage earner plan, Chapter 13 bankruptcy allows individuals who have consistent income to create a plan to repay all of their debts or a portion thereof. Usually the debtor will petition creditors to accept installments over a three to five year period. Throughout this time frame, creditors are forbidden from either starting or continuing any collection efforts. Depending on the debtor’s income level, the bankruptcy code and rules determines the time period allowed for repayment. There are a number of advantages to selecting a Chapter 13 over a Chapter 7 liquidation. The most significant benefit is saving the debtor’s house from foreclosure.”

“When you are in debt, making sense of the financial options available to consumers to eliminate debt can be extremely difficult,” said Michael Samec of Legal Helpers. “That is why Legal Helpers is happy to provide some useful information to consumers to better understand their legal options. As one of the largest bankruptcy law firms in the U.S., Legal Helpers has the experience to help Americans get a fresh start.”

Read more great bankruptcy tips at

About Legal Helpers

The law offices of Macey & Aleman, operating as Legal Helpers in some states, with a web address of, is a debt relief agency helping people to file for bankruptcy under the bankruptcy code. Founded in 1994, the firm is one of the largest consumer bankruptcy law firms in the United States, employing over sixty attorneys across twenty-one states.


LifeTips creates and delivers content solutions and link building strategies that become powerful assets for clients. Our project-based services and staffing services connect clients with our pool of over 500 expert writers. Writers so great– they’re Gurus! With an engaging voice and infectious enthusiasm, our freelance writers, editors, SEO specialists and engineers can take the complexity of any business and create informative content that connects with readers, earns trust and drives traffic and sales. From SEO-friendly content assignments to brochure writing to on-demand book printing, our solutions are working for FTD, H&R Block, LowerMyBills, Merck, One Hanes Place, Office Depot, The Company Store, Verizon Wireless and Yankee Candle.

With proper attribution and a link to the appropriate page at LifeTips, media representatives are free to use any of the 95,000 tips at LifeTips.

For more information:

Byron White


Michael Samec

Legal Helpers


This press release distributed by PRWeb, the official newswire of

# # #

Color of Money: No easy way to get out of debt

Color of Money: No easy way to get out of debt
The strategy is to persuade people it's in their best financial interest to stop making payments and instead send money to the debt-relief firm, which holds on to the funds with the intention of offering creditors a lump-sum offer for less than what's …
Read more on Roanoke Rapids Daily Herald

Dig your way out of debt fast
Balance your family budget and develop a debt reduction plan. The fastest way to pay off what you owe is to make extra repayments. Look at your budget and work out the maximum you can afford to pay off your debts every month. If you're not making much …
Read more on Perth Now

Wipe out debt for good
The average U.S. household owes more than $ 7,000 on their credit cards. Average U.S. household mortgage debt is around $ 154,000, and average U.S. household student loan debt is more than $ 33,000. Altogether, U.S. consumers have $ 14 trillion in debt.
Read more on MyFox Philadelphia

Latest Consumer Credit Counseling News

Do you know what causes bad debt?

Image by MoneyAware
In a recent poll, in association with, we asked "What do you think is the biggest cause of financial difficulties?".

We wanted to find out whether there was a perception in the wider population that problem debt is fuelled by reckless credit card spending. The results of the poll, shown in light green in the graphic, show that this belief is the case.

However the perception that spending too much in the shops – of overspending or "going wild in the aisles" – is the biggest cause of financial difficulties is too simplistic.

The reality, shown in dark green, is that nearly half of all debt problems we counsel on are actually caused by work issues such as redundancy, reduced working hours or a pay cut. ‘Life issues’, such as divorce, bereavement and illness, is another common cause of debt. Overspending is the main cause of debt in only 10% of cases.

More details on the CCCS website and explanatory text is also available on the MoneyAware blog.

Citi teams up with Mint to create E-asy account for low, moderate income clients
The integration of technology and traditional counseling will soon make it "E-asy" for low and moderate income San Diego residents to get expert, up-to-the minute advice on home buying and improving their financial health. The secret is the E-asy …
Read more on Finextra

Steve Bucci: Credit card debt weighs down our finances
For that, contacting a nonprofit credit counseling member of the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies has merit. A certified counselor will review your finances and help you …

Take advantage of credit cards and good credit
A barrage of credit card offers is a cyclical phenomenon, said John Ulzheimer, president of consumer education at Sometimes the offers include 0 percent financing, but they can also be balance transfers or … Middle and higher-income …
Read more on Minneapolis Star Tribune

Personal Finance: Beware, mortgage scammers on the rise again – An alliance of mortgage counselors, companies, investors and insurers that helps struggling homeowners nationwide. Its consumer hotline – (888) 995-HOPE – is staffed by HUD-approved credit counselors who can discuss options.
Read more on Modesto Bee

What's Trending in The Estate-Planning World

What's Trending in The Estate-Planning World
The sizes of the gift and generation-skipping transfer (GST) tax exemptions, $ 5.34 million each, have resulted in the increased popularity of self-settled trusts. Currently, 15 states allow for self-settled trusts, and 14 of these states also allow for …

Farm developer promises to not build a 40B project
WEST BOYLSTON — The man who is proposing to build houses on a portion of Malden Brook Farm has promised residents he has no intention of building an affordable housing development under the state's so-called 40B laws. He will even put that promise …
Read more on Worcester Telegram