New York Bankruptcy Attorney
Handling Chapter 7, Chapter 13 and Related Matters (Debt Settlement, Foreclosure)
In generations past, people who could not pay their debts often ended up in debtors' prisons or trapped in inescapable, difficult working conditions as indentured servants. The founding fathers of our country considered the option of bankruptcy to be so important in a free nation that they built provisions for it into the U. S. Constitution.
Are you struggling with overwhelming debts that you cannot repay? Contact Adams Law Group, LLC, in Rockland County or New York City to schedule a free initial consultation.
A knowledgeable bankruptcy lawyer is a valuable source of information about the options and processes of Chapter 7 and Chapter 13 bankruptcy. Bankruptcy may carry negative consequences, including stigma and a long-lasting mark on your credit report. However, if you have come to this place in your financial life, there may be no better way around this mountain then up and over it or through it by way of bankruptcy.
- Chapter 7 bankruptcy is often referred to as "debt discharge" or "liquidation" bankruptcy. For many people, it means that consumer debts are wiped out, medical bills are wiped out and money earned thereafter is money in the bank. Some assets may need to be liquidated in a Chapter 7 personal bankruptcy, but for many people, there are no assets to liquidate after exemptions are taken into account. Get more information about Chapter 7 bankruptcy by contacting us.
- Chapter 13 bankruptcy is often referred to as "debt reorganization" bankruptcy. This form of bankruptcy will require a debtor to repay some portion of total indebtedness over three to five years' time. Normally, the total repaid will be a fraction of the original debt — with no more interest to deal with. Chapter 13 bankruptcy is often appropriate for people who have considerable home equity or whose income exceeds the limit for eligibility for Chapter 7. Ask questions about Chapter 13 bankruptcy by calling or e-mailing Adams Law Group, LLC, to request a free initial consultation.
- People approaching bankruptcy often want to explore alternative forms of loss mitigation such as debt settlement or loan modifications. An experienced bankruptcy attorney will be able to analyze your situation and recommend this type of remedy if it is right for you — and negotiate with creditors for the best deal available.
Take Action Promptly if Debt Overwhelms Your Ability to Repay
Once you determine that bankruptcy is your best option, the sooner you get it going, the less money you will be pouring down the drain, trying in vain to keep up with minimum payments at high interest rates. The sooner the bankruptcy is finalized, the sooner you can begin moving forward: rebuilding your credit, rebuilding your financial life.
Filing bankruptcy will put an "automatic stay" into effect right away — which will stop foreclosure, stop collection practices and buy you time to put your financial affairs in order. Once the bankruptcy is complete, your unsecured debts will be wiped out or restructured to allow for orderly, feasible repayment over several years' time.
Contact Adams Law Group, LLC, to schedule a consultation with an experienced New York bankruptcy attorney who is ready to work with you to achieve the debt relief that you seek.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
