Frequently Asked Questions About Bankruptcy

My practice is exclusively on Bankruptcy Law. This allows me to provide clients with tailored, thorough advice about their debt options. That way my clients can make informed decisions about their debts and have a clear plan for the future.

For advice about your specific situation and for representation throughout the bankruptcy process, call me at (917) 783-0906 to schedule a FREE consultation.

You can also read answers to some common questions about bankruptcy below:

Your situation is unique to you. The best way to determine if bankruptcy is right for you is to speak directly with a lawyer who has experience with these matters. However, it may be beneficial to file for bankruptcy if you can answer yes to any of the following questions:

  • Are you being harassed by creditors for overdue payments?
  • Do you have overwhelming credit card debts, medical bills or other debts that you cannot pay?
  • Are you facing foreclosure on your home?
  • Is your car or other property being repossessed?
  • Have you been sued and cannot afford judgement?
  • Are your wages being garnished?
  • These are just a few of the issues we commonly see with clients who are considering bankruptcy. If you are facing overwhelming debt, bankruptcy may provide you with the relief you need.

In Chapter 7 bankruptcy, most unsecured debts can be discharged. This includes credit card bills, medical bills, personal loans and some judgments. Student loans and support payments cannot be discharged. Similarly, at the end of your payment plan in Chapter 13 bankruptcy, any remaining debt on unsecured loans can be discharged.

Chapter 7 bankruptcy is often referred to as the “fresh start” bankruptcy, because it allows you to discharge your unsecured debts and get a clean slate. Unsecured debts include debts that are not attached to property such as credit card debt, medical debt, and personal debts.

If you don not qualify for Chapter 7 or if you have significant assets, Chapter 13 bankruptcy can help you reorganize your debts. In Chapter 13, you develop a payment plan to you help get you back on track with your debt payments. These payment plans typically last 3 to 5 years.

The bankruptcy process can be complicated, and failure to follow the proper procedures could result in unresolved debts. An attorney can help you make sure that you get the relief you need from all types of debt. Your lawyer can also help guide you through the process and act as your advocate at every stage.