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Bankruptcy Lawyer
- A New York Bankruptcy Lawyer has experience in all manners related to filing bankruptcy in New York State. Individuals generally seek bankruptcy once credit card, loan, or medical bills become overbearing. Also losing a job or significant business losses are common reasons for filing bankruptcy. There are more than one type of bankruptcy (Chapter 7, 11, 13), each type is divided on Individual verses Business, by the amount owed, and whether or not the person intends to pay the debt off. Chapter 7 Consumer Bankruptcy is the type of bankruptcy most Individual persons would file. Chapter 13 is for individuals who want to pay off their debts over a period of three to five years. Chapter 11 is a reorganization where the business or individual has more debt than is allowed in a Chapter 13 bankruptcy. As you can see filing bankruptcy in New York is extremely complicated. A bankruptcy lawyer can consult with you on the pluses and minuses of filing bankruptcy. Also your bankruptcy lawyer can tell you exactly which bankruptcy to file and what assets need to be liquidated and what ones you still can keep. Most importantly your bankruptcy lawyers has the ability to quickly stop creditors from harassing you.
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