New York Bankruptcy: The Road to a New Beginning
People get into debt for a variety of reasons. Perhaps you lost your job or went through a bad divorce. Like many people, you may be behind on your mortgage or credit card payments. No matter how your debt problem started, bankruptcy may offer you the possibility of a fresh start.
At the law firm of Jeffrey M. Rosenblum, P.C., we offer a free initial attorney consultation to discuss your financial situation and determine if bankruptcy is the best solution to your debt problem. We have offices in Great Neck, Melville and Rockville Centre on Long Island and in Purchase in Westchester.
A Fresh Start from Chapter 7.
The first step in a Chapter 7 bankruptcy is to contact us to discuss your current financial situation.
If your income and expenses meet certain requirements, you will meet with us to provide necessary information required for us to file a Chapter 7 bankruptcy petition on your behalf. Once you have retained our firm for filing, we will stop the harassment of any of your creditors that are attempting to collect a debt.
Assuming you qualify for filing of a Chapter 7, after filing and probably within two – three months you will get a court order discharging, or eliminating your consumer and medical debts.
There Are Some Things That Chapter 7 Cannot Accomplish.
Debts such as student loans, recent income taxes, and child support cannot be discharged through Chapter 7. There is no process for stopping a foreclosure and saving your house in Chapter 7 (other forms of bankruptcy can stop foreclosures). Those in high-income brackets that are debtors or those who are currently operating businesses with debt need to carefully review their situation with an experienced professional such as the attorneys in our office.
File Chapter 13 to Reorganize Your Debt.
Chapter 13 bankruptcy allows for repaying some or all of your debts by making monthly payments to a trustee usually over the course of three to five years. The payments you make to the trustee are then distributed to your creditors.
Things Chapter 13 accomplishes which you can’t do in Chapter 7:
- Chapter 13 can stop foreclosures and save your house.
- Chapter 13 may provide bankruptcy relief if you are not eligible for Chapter 7 (e.g. if you are a high-income household).
- If you have certain debts you cannot pay outside of bankruptcy and that cannot be eliminated in Chapter 7 (for example, income taxes), Chapter 13 provides a process for repaying those debts.
- Chapter 13 provides a way to repay all or a portion of your debts if you want to pay your creditors but can’t do so outside of bankruptcy due to creditor harassment or lawsuits.
Free Attorney Consultation
For a free initial consultation with an experienced personal bankruptcy lawyer, call 866-394-2661 or fill out the contact form on this Web site.
Learn more about Chapter 7 and Chapter 13 bankruptcy:
Stopping Garnishments, Liens and Creditor Harassment
We are a debt relief agency. The Law Firm of Jeffrey M. Rosenblum, P.C. helps individuals and business owners file for bankruptcy relief under the U.S. Bankruptcy Code.
