Bankruptcy Lawyers in New York City
Looking for an Experienced Bankruptcy Lawyer?
When personal or business finances get out of control, it can feel like there is no possible solution. Dealing with debt or other financial trouble can lead to a number of other problems.
Bankruptcy can be the solution people with large amounts debt can be. However, it’s a complicated legal process; mistakes can lead to even more problems, such as more debt, stress, and even health issues.
Thankfully there is a much simpler way – working with a bankruptcy lawyer.
Those considering filing for bankruptcy should speak with an NYC bankruptcy attorney as soon as possible to get out of debt fast.
NYCAttorney.com connects you with trusted Bankruptcy Lawyers in New York
NYCAttorney.com connects you with the top lawyers in New York to help you with your legal needs. No matter the magnitude of your case, there is an attorney waiting to help you get the justice you deserve.
Browse our listings below to get connected with the best bankruptcy attorney in NYC for your particular circumstances. If you’re not sure what to look for in a lawyer, we’ll help you find the perfect fit.
Speak with a Trusted Bankruptcy Lawyer Today
Is Bankruptcy Right for Me?
Bankruptcy should be the last option, as it can have a long-lasting impact on a person’s financial situation.
There are often alternatives that can be tried first, allowing the person to get their finances back under control without worrying about having a financial restart on their credit history.
Attorneys can often recommend alternatives to try before moving forward with this financial decision.
The Bankruptcy Process
It is necessary to go through the person’s financial situation carefully to determine what debts exist, as well as income and other expenses.
This can happen at any stage in a person’s life, including the estate planning process.
All of this is needed, even though some debts may not be dischargeable. An attorney can help the person go through the debts, explaining which ones can or cannot be discharged and whether any exceptions may apply.
Should You File Chapter 7, 11 or 13?
Individuals must do a means test to determine the right chapter to file. The means test is done by taking a look at the debts versus income.
If someone passes the means test, they will be able to file for Chapter 7. If not, they will need to file under a different chapter, typically Chapter 13.
There are different chapters of bankruptcy to choose from. Individuals who pass the means test can qualify for chapter 7, which allows them to have some of the debt discharged after any qualified assets are sold.
Those who cannot file for chapter 7 will file for chapter 13, which allows for the debt to be paid off over a three to five – year period.
After that, the remaining debt is discharged. Businesses of all sizes can opt for chapter 11, which provides options to consolidate debt without giving up the business.
If mortgage payments have been missed and the house is possibly going to go into foreclosure, homeowners do have the option of filing for bankruptcy.
Done right, this can help prevent foreclosure and the homeowner will have an automatic stay while they reorganize and pay off any debts.
This could be a way to save the house and avoid losing it due to financial issues.
Hiring an NYC Bankruptcy Attorney
Are you worried about your financial situation? If you’ve been thinking about filing for bankruptcy, now’s the time to speak with an attorney about your situation and see what your options are.
You may not have to file, but if you do, having an experienced New York attorney to help can minimize the potential for any problems.