Bankruptcy is the first step toward rebuilding.
Call me and I will go over in detail how it can help you.
There are several benefits to filing bankruptcy in NY verses trying to consolidate the debt through a company. First is, if you qualify, you will be debt free once you receive a bankruptcy discharge in Chapter 7. In most instances, this can be within 6 months of filing. Credit companies collect your monthly fee for several years to eventually settle with the creditors. Therefore, your credit remains tarnished, collection and phone calls continue and on top of it you can't begin to fix your credit until its complete. This will probably take years. Furthermore, there is no guarantee that the creditors will accept the settlement or even the company you are using will even be in business. The other way they work is in lump sum. That means if you have a certain sum of money up front to pay all your debts they can try to reduce the amount due. I also handle this. Obviously, you need enough money to satisfy your creditors.
However, if you file a chapter 7 and qualify you can discharge your debt and start immediately with a clean slate. That means no more debt. In addition, once you file, no one can touch you. There is an automatic stay on everything you touch. No one can call you, no one can stop by, no one can take whats yours. If they do, then you can sue them for violating the automatic stay. Its a great thing. Bankruptcy protection makes you feel like a person again rather than hiding under your desk. Moreover, you can level the playing field, get the protection from the court and in some instances stick it back to the uncooperative rude creditors.
Bankruptcy court is designed to assist the debtor. Take advantage of it. It's very important that you hire an experienced attorney to represent you. I have years of experience helping clients accomplish their goals. As your attorney, I will represent you through the entire process and provide you with all the information and services that will get you on the road to debt recovery.
In these difficult times, you must fully understand your options. The rules and regulations set forth under the United States Bankruptcy Code are involved. I recommend you call me before your situation gets worse so I can help you navigate this daunting process. Don't wait until the day before the foreclosure sale!
We can help you file for the following chapters:
Under Chapter 7, you will be completely discharged from any unsecured debt, i.e. credit card debt, vehicle loans, medical bills, etc. You must give up any non-exempt assets to the bankruptcy trustee. In many cases, however, most of your property can be retained under the state's exemption laws.
Basically the same as a 13, but for businesses.
This is a partial discharge of unsecured debt. You will be required to file a consolidated repayment plan, usually for a term of three to five years that is established through the bankruptcy trustee. You are able to retain certain property that you would have lost with Chapter 7. Chapter 13 enables you stop a foreclosure, vehicle repossession or wage garnishment.
Let Johnny the Lawyer help you determine if filing bankruptcy in Queens is right for you and, if so, which type to file. I'll help you sort through all the details and ramifications of filing for bankruptcy. My team of bankruptcy attorneys in Florida and New York can help you get back on track. Contact us today!
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