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Long Island Bankruptcy Attorneys

Sign-that-reads-myths-vs-factsIt can be hard to make ends meet, and many families find it necessary to borrow against their home equity or charge the bulk of their expenses on credit just to get by. Unfortunately, this strategy can spell financial disaster if a sudden major expense arises or a wage earner is laid off or temporarily disabled.

While everyone wants to be able to honor their financial obligations, it is simply not always possible to do so. For this reason, the nation’s bankruptcy laws are available to help families avert a financial catastrophe and reduce or eliminate the heavy burden of debt. At Ingber & Provost, our Long Island bankruptcy attorneys take the time to understand your unique situation and advise you on your best options for debt relief. See below for some of the many ways we help individuals and families on Long Island get out of financial trouble, and call our office at 646-942-7827 to get started.

Make a Fresh Start with Chapter 7

It is all too easy to get a new credit card with a great introductory rate or other incentive to get you to start charging, and credit card companies are only too happy to have you make a minimum payment every month. Meanwhile, your debt starts to grow at interest rates over 25%, and before you know it, your credit is maxed out and in such a state that it would take you years to pay it all off. When finances have gotten out of control, don’t despair, and don’t wait until the creditors start taking your property or wages before you take action. In Chapter 7, you can eliminate most or all of your unsecured debt, such as credit card debt, medical bills and even some forms of tax debt. We carefully review your assets and use the right set of exemptions to get your debt discharged with a minimal or no impact on the property you own.

Save Your Home with Chapter 13

Chapter 13 is an alternative to Chapter 7 that is much easier to qualify for if you make too much money to be eligible for Chapter 7. In fact, Chapter 13 was designed for people with a steady source of income and is commonly referred to as a “wage earner’s plan.” In a Chapter 13, all of your creditors are brought together in one place, so that you do not have to continue dealing with each one individually. Instead, you make one monthly payment that you can afford toward the Chapter 13 debt adjustment plan, and at the end of a three or five-year period, any remaining debts can be eliminated. If you are in default on your mortgage and facing foreclosure, a Chapter 13 can put a stop to that foreclosure and help you keep your home by rolling any missed payments into your payment plan. Many debts can be adjusted to a more reasonable amount, and second mortgages on your house can be adjusted or removed.

Stop Creditor Harassment and Unfair Debt Collection

All creditors are limited in the actions they can take in an attempt to collect a debt, and certain classes of bill collectors are further limited by specific consumer protection laws like the Fair Debt Collection Practices Act. When you engage our services, our attorneys put an immediate stop to creditor harassment and bill collection while you determine the best approach to deal with your debt. If bill collectors are violating the law in their activities toward you, we not only make them stop but force them to compensate you for their unlawful behavior as well.

Avoid Bankruptcy through Debt Settlement

If you owe large sums to a small number of creditors and can afford to make a lump sum payment, we may be able to negotiate a debt settlement on your behalf, where the creditors agree to take a lesser amount as payment in full for the amount owed. We offer skilled, professional representation in negotiations and the legal knowledge to make sure your rights are protected in any settlement reached. Debt consolidation companies may offer more than they can deliver. As licensed attorneys, Ingber & Provost are duty bound to provide competent, effective legal services that get results.

Prevent Foreclosure with a Loan Modification or Short Sale

A Chapter 13 bankruptcy is one way to stop a foreclosure and get yourself back on track with your mortgage payments, but we realize it may not be the right solution for every situation. If you are upside-down or under water on your home mortgage and bankruptcy is not an option, we may be able to help by negotiating a loan modification or workout with your lender. Our skilled negotiators know the legal strategies to reduce your principal or interest and get your monthly payments down to an affordable level. If you simply cannot afford to stay in the home, we can help you get out without foreclosure by negotiating a short sale or deed in lieu of foreclosure. We know the proper steps to take to negotiate an effective resolution while protecting your credit and making sure you are not liable for any deficiency when the home sells.

Call the Long Island Bankruptcy Attorneys at Ingber & Provost for Effective Debt Relief

If you are struggling to make ends meet and are not sure what your options are, don’t despair. Call Ingber & Provost at 646-942-7827 to speak with a team of dedicated and successful Long Island bankruptcy attorneys who will find a solution that is right for you.

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