Article by Jayson Lazlas
A New York Bankruptcy Attorney Helps Overcome Financial Burdens – Law
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When consumers face financial burdens a New York bankruptcy attorney may be able to help. The attorney can consider all the facts pertaining to the case and advise clients which chapter of the bankruptcy code best applies to them as well as whether or not bankruptcy is the best option.
There have been major revisions to the bankruptcy codes in the past several years. These revisions make the help of the New York Bankruptcy Lawyer more needed than ever before. In the past, some individuals were able to complete the paperwork and represent themselves at the hearing. However, today, the courts recommend that all individuals filing for bankruptcy retain an attorney to help them work through the vast amount of paperwork that must be completed.
Many attorneys specializing in bankruptcy offer a free initial consultation. To prepare for this consultation, the consumer should gather documents that could be needed. These documents include pay stubs, consumer bills, copies of one’s lease or mortgage and other financial documents that could pertain to the case. At the meeting, the attorney may ask several questions. These are not to cause the individual to feel defensive or bad about themselves, but to allow the lawyer to know how to best approach the court case that will help the individual or couple to eventually get back on their financial feet.
Consumers with few financial assets may qualify for a no asset Chapter 7 filing. In these cases, the assets the filer has are considered exempt, and once the case is discharged, the consumer’s debts are declared null and void. In a Chapter 7 filing where the consumer has assets, the court may order a bankruptcy sale. In the sale, all assets other than those deemed exempt would be sold and the proceeds dispersed among the debtors.
Some consumers may prefer filing a Chapter 13 bankruptcy. With this type of filing, the consumer is able to save a home from foreclosure. The consumer agrees to make payments on the debts owed over a three to five year period. The case is not discharged until after the payments are completed. During this time, the consumer is not allowed to take any more debt. Filing for bankruptcy puts an automatic stay on all bills. Collectors must stop making phone calls and cannot garnish wages while the case is active. In a chapter 7 case, property that secures a debt can be foreclosed.
Bankruptcy is not an easy way out of debt. Dealing with the court can be a very stressful time. In some instances, the consumer may decide there are better ways to deal with the debt. The New York bankruptcy lawyer can offer advice to consumers considering filing with the courts as to their best route to overcome debt. If a consumer considers all the options and finds bankruptcy is best for themselves, a New York bankruptcy attorney can help to file the necessary paperwork. While the filer must appear at court, the attorney can also appear with him or her and make the entire process to finding a new financial start less stressful.
About the Author
Debora Zelenetz, a Attorney Westchester County, is an attorney whose practice is devoted to personal bankruptcy including Chapters 7 & 13. She is a Attorney Westchester County who helps individuals get their financial lives under control throughout Westchester County, relieving the burdensome black cloud of debt that seems to be hanging over so many American’s today.
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Jayson Lazlas
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