Chapter 7 bankruptcy can give you a "fresh start" by erasing most debts altogether. This type of bankruptcy is often the best strategy for people with overwhelming medical bills, credit card debt, loan refinances or judgments, or who have lost an income source because of a layoff, divorce or loss of child support.
While bankruptcy under Chapter 7 changed in 2005 with the new federal bankruptcy law, it is still available for most people. The experienced New York City bankruptcy attorneys at Shaked & Posner are ready to sit down with you, examine your financial situation and determine if you qualify for Chapter 7.
Experienced Bankruptcy Lawyers Serving the Bronx and Surrounding Areas
To schedule a free initial consultation with an experienced attorney, call 212-494-0035 or toll free 888-783-6690. You can also contact us online.
How Does Chapter 7 Debt Relief Work?
Chapter 7 is for people who are unlikely to be able to pay back their debt, even at low interest rates. The first step is passing the means test, which involves analyzing your household income and comparing it to the median income for the state of New York.
If you qualify, the process of filing Chapter 7 bankruptcy is straightforward. You will receive credit counseling and will then make one court appearance. Our NYC bankruptcy lawyers will prepare all paperwork and appear in court with you.
Filing Chapter 7 bankruptcy can help you in the following ways:
- Stop wage garnishment and utility shut offs
- Stop creditor harassment
- Save your home by stopping foreclosure and eviction
- Provides total relief from unsecured debt, such as credit card bills and medical bills, older tax debts and gambling debt
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Debt claims can be discharged in as little as six months
Despite the many rumors and misinformation, Chapter 7 is still available, although changes in the law have made it more difficult for some people to qualify. Even if you do not qualify, there is no barrier to filing a Chapter 13 bankruptcy instead.
Contact a Knowledgeable Manhattan Chapter 7 Bankruptcy Lawyer for a Free Consultation
Some lawyers are all about the law. At Shaked & Posner in New York, we think it's people that matter. For a free consultation to discuss your specific legal needs, call 212-494-0035 or toll free 888-783-6690. You can also contact us online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
