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What You Need To Know About Bankruptcy

Sometimes, misconceptions are the biggest obstacles on the road to making a fresh financial start. At the law firm of Jeffrey M. Rosenblum, P.C., we offer a free initial attorney consultation to discuss your situation and answer your questions. We have offices in Westchester, Nassau and Suffolk County, as well as Brooklyn and London, UK.

Beware Of Bankruptcy Misinformation

Bankruptcy is not right for me.
Chapter 7, 11 or 13 protection is right sometimes, but not always. It depends on the problem you may be having with your credit cards, car payment or mortgage. There may be better options available for you and your family. The best way to find the right financial solution is to talk with an experienced bankruptcy attorney.

I won’t be able to discharge enough to get above water. 
This is rarely the truth for most people. There are forms of exemptions that cannot be removed from your debt, but we can help you identify those uncommon situations. The majority of different types of debt can be removed, such as medical debt and credit card debt, which gives you the chance to free yourself from most, if not all your debt.

Filing bankruptcy will ruin my credit.
Once you file bankruptcy, you can put your debt behind you and make a fresh financial start. In many cases, your credit will actually improve. We will explain what you can do to improve your credit after filing bankruptcy. Within a few years of discharge from your bankruptcy, you may find that your credit is restored sufficiently so that you may be able to obtain a car loan or mortgage at standard market rates.

I will lose my home or car.
Not necessarily. In fact, filing bankruptcy may be the best way to save your home from foreclosure or your car from repossession. Bankruptcy triggers an automatic stay, which prevents creditors from taking adverse actions against you and gives you time to reorganize your finances.

I don’t need a lawyer to file bankruptcy.
Sure, you can file a “pro se” bankruptcy without an attorney representing you. But, the adage that when you represent yourself, “you have a fool for a client” is never truer than when it comes to the exceptionally complex new bankruptcy laws and rules.

Not all bankruptcy lawyers have the required experience.
When it comes to filing for bankruptcy, your attorney’s experience and knowledge of the local bankruptcy courts are critical. The firm of Jeffrey M. Rosenblum, P.C., has more than 25 years of legal experience.

Should you file for bankruptcy?
There are many factors and possibilities in the discussion of bankruptcy. During your consultation, we can discuss such issues and options as:

  • Chapter 7: Eliminate your consumer debt (such as credit cards), while keeping your house and car.
  • Chapter 13: Repay your debt under a supervised plan.
  • Home foreclosure: It’s not too late to stop the foreclosure process. We are ready to help.

Contact our office to have this crucial and imperative discussion today. A free phone consultation can determine whether we should meet together. Call 866-394-2661. 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.