Queens Bankruptcy Lawyer
Which type of bankruptcy is best for you?
Are you worried and stressed about paying your bills? If so, the legal team of Blutter & Blutter encourages you to contact a Queens bankruptcy attorney at your earliest opportunity. They concentrate on assisting people overwhelmed with crushing debt, and are proud of a reputation for compassionate, individualized attention. If you are considering a bankr uptcy but aren't sure whether Chapter 7 or a Chapter 13 is your best option, the firm can help you decide.
Bankruptcy, a constitutional right in the U.S. Code, is aimed at helping people get a fresh financial start. Either a Chapter 7 or a Chapter 13 bankruptcy can be filed and in either, a means test to determine eligibility must be completed. If a Chapter 7 filing is appropriate, all of your non-exempt property may be sold and the proceeds used to pay the creditors. However, because there are usually no assets, the individual receives a discharge of debt and the creditors receive nothing. In a Chapter 13 filing, the individual generally has a significant amount of non-exempt property, has enough income to repay creditors and is most apt to want to reorganize debt. The firm is staffed with knowledgeable attorneys with over 55 years of combined bankruptcy experience. The team stands ready to assess your situation during a free initial consultation; and offer direction, as they have to countless people over the years, as to your best available option.
Chapter 7 vs. Chapter 13 Bankruptcy
In a Chapter 7 bankruptcy filing you can expect:
- Your debt discharged in approximately three months
- The exemption of all property without giving up any before the discharge date
- Elimination of most debts after filing without needing to pay back any
In a Chapter 13 filing you can expect:
- Creditors prohibited from action against you without court permission
- Foreclosure proceedings blocked; you make past mortgage payments over 3-5 years
- Loan modification in some instances
- Co-signer protection
- Less time required to file after a prior Chapter 7 or Chapter 13
- Property settlement debts dischargeable pursuant to a divorce
For guidance regarding whether a Chapter 7 or Chapter 13 bankruptcy is best for you, contact a Queens bankruptcy lawyer at Blutter & Blutter today.
Page: Is Bankruptcy Right for Me?
Queens Bankruptcy Attorney
Is bankruptcy right for you?
Many people hesitate to file bankruptcy for various reasons, such as not believing it is an option for them under the law, or that it is too complicated a process and not worth the effort. I f you have more debt than you can deal with, however, and are fearful of opening your mail for fear of hearing from another creditor, bankruptcy may be a viable solution to your problems. Contact a Queens bankruptcy lawyer at Blutter & Blutter to discuss your options and you will rest easier, knowing that an experienced legal team can help you decide if filing bankruptcy is the right decision for you.
There is a tremendous amount of stress associated with trying to have enough money to put food on the table while still making loan and other payments on time. If you find yourself sinking further and further into debt and fear losing your home, repossession of your property or vehicle and freezes on your bank account, relieve your stress by consulting with an attorney from the firm. They can help you decide if filing for bankruptcy is right for you and if so, whether a Chapter 7 or a Chapter 13 is your best option. If bankruptcy is not the best choice, they will explain other alternatives to bankruptcy that make mo re sense for your situation.
What Bankruptcy Can Do for You
People file for bankruptcy for a number of reasons including defaulting on small business loans and home mortgages, incurring massive credit card debt, being unable to pay medical bills and experiencing job loss. Bankruptcy is not the best choice for everyone but when it is, the help it provides includes:
- Eliminating the legal obligation to pay most or all of your debts
- Stopping taxes or foreclosure to your home
- Restoring or preventing utility turn offs
- Preventing repossession of your vehicle or other property
- Blocking wage garnishment and creditor harassment
If you have questions about whether you should file for bankruptcy, contact a Queens bankruptcy attorney for your confidential consultation.