At Shaked & Posner, we are passionate about helping people during tough times. With nearly 40 years of combined experience as bankruptcy attorneys in the Bronx, Manhattan and White Plains, we understand how easy it is for people to become overwhelmed with debt. We have helped thousands of clients break the cycle of missed payments and ever-increasing interest rates. We can help you, too.

Understanding Your Options in a Bankruptcy

Whether you need to file bankruptcy as an individual or as a business, our skilled attorneys can help you at every stage of the process. The most common forms of bankruptcy are:

Chapter 7 Bankruptcy: Despite recent change in the law, Chapter 7 is still the most common form of bankruptcy. If you qualify for Chapter 7 bankruptcy, you can get a "fresh start" by eliminating credit card debt, medical bills and other unsecured debts. You can keep your home, automobile and some of your personal property by using exemptions. Each case is different, and our bankruptcy lawyers will explain the process thoroughly before moving forward with a filing.

Chapter 13 Bankruptcy: Chapter 13 allows consumers to reorganize their debts and repay a portion of what they owe over a three- to five-year period. Mortgage arrearages, credit card debt, medical bills, car loans and other unsecured debts can all be included in your repayment plan. At the end of the payment period, any remaining unsecured debt will be eliminated and you will be caught up on your secured obligations.

Chapter 11 Bankruptcy: Businesses and individuals can seek relief under Chapter 11 to reorganize debt. Chapter 11 is similar in many ways to Chapter 13, but is intended to help businesses. If you want to continue operating a business or keep assets during reorganization, this may be the best option for you. Foreclosure

Your home is one of your proudest assets that you have worked so hard for. The possibility of losing your home is frightening and you may feel that you have run out of options. However, the law firm of Shaked & Posner has extensive experience in foreclosure defense. We can discuss with you how we can save your home, your options and the best defense against bank foreclosure.

Home Protection for the New York City Area

We will review the foreclosure documents including all of the relevant loan documents and will advise you as to available foreclosure defenses and ways to avoid foreclosure.
Foreclosure defenses that are available to the homeowner include violations of the Truth in Lending Act and violations of the Real Estate Settlement Procedures Act. These defenses include:
Failing to clearly spell out the terms of your loan Failing to disclose material provisions of your loan Failing to provide a good faith estimate of closing costs Predatory lending practices We will explore all available options to assist you in dealing with a foreclosure suit, including negotiating with your lender for a short sale or arranging for your lender to accept deed in lieu of foreclosure or presenting your lender with documentation to approve a loan modification.
Additionally, we will review your bankruptcy options, including the discharge of debts, exempt property under the bankruptcy code and forgiveness of debt income under 1099-C of the Internal Revenue Service guidelines. When you come to us, you will receive individualized attention. We will dispel common bankruptcy myths and give you the real answers, including how and when it is appropriate to file for bankruptcy in a divorce. We will advise you on how bankruptcy will affect your credit and what will happen after the process is over. Most of all, we will be available to answer your questions at any time.
Contact us today for an initial free consultation!