Chapter 7 Bankruptcy Lawyer Serving the Hudson Valley and Long Island
What is Chapter 7 bankruptcy?
Bankruptcy is a right U.S. citizens have to eliminate debt and get a fresh financial start. Most people who file for bankruptcy do so under Chapter 7 of the United States Bankruptcy Code. Chapter 7 bankruptcy is available to both individuals and businesses and can eliminate most debts, such as credit cards and personal loans. In some cases, tax debts can even be eliminated. Although chapter 7 may be referred to as “liquidation,” due to the fact that nonexempt property could be surrendered to pay off debts, New York law and Federal law protects many of your assets. In fact, it is extremely rare for anyone filing chapter 7 bankruptcy in New York to lose any property at all.
When to file bankruptcy?
At the Law Office of Ingber & Provost, we will advise you as to when to file bankruptcy, whether to file bankruptcy, and how to file bankruptcy the right way. In some cases, depending on your current income or existing assets, waiting to file bankruptcy will prove more beneficial than filing immediately. An in depth consultation will provide you with answers to all of your questions so you can make an informed decision for yourself and your family.
How do you file bankruptcy?
Bankruptcy, whether filed in Chapter 7 or Chapter 13, can be a complicated and daunting task for those unfamiliar with the process. Those wishing to file for bankruptcy must complete a number of mandatory schedules and declarations, describing in detail their income and assets. Failure to complete the forms properly and submit them on time could prove detrimental, and could lead to unanticipated complications, such as loss of assets and possible dismissal. In most cases, it is best to at least consult an attorney who will advise you on when to file bankruptcy, how much bankruptcy costs, and what bankruptcy means for you and your family’s financial future.
How much does bankruptcy cost?
The cost of bankruptcy is evaluated on a case-by-case basis. The chapter 7 bankruptcy lawyers of Ingber & Provost, we permit our clients to make installment payments while your paperwork is being prepared.
Take the first step towards a fresh financial start and contact a New York chapter 7 lawyer at the Law Office of Ingber & Provost today!
We are a debt relief agency.