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New York City Chapter 7 Bankruptcy Attorney
As a debt relief firm, we aim to provide our clients with the best possible solution to their debt problems. Chapter 7 complete liquidation bankruptcy is a method that debtors can use to resolve debt concerns. In order to begin bankruptcy under this chapter, you must first pass the means test, which evaluates your eligibility. If you pass, a bankruptcy trustee can cancel most, if not all, of your debt. Some of your property may be liquidated to pay back and appease your creditors; however, the benefits of filing can outweigh this drawback. During the process, which can last four to six months, one of our New York City debt Relief lawyers can help you correctly complete the each step so that you successfully discharge your debt.
Filing for Chapter 7
During a free case evaluation with our firm, we can discuss your eligibility and whether this is the best option for you. We can also talk about the requirements, such as forms and actions, which will have to be fulfilled. Under the 2005 Bankruptcy Act, you will need to complete credit counseling with an agency that has been approved by a United States Trustee. An automatic stay will be put into place immediately after you file. Your creditors will no longer be able to perform debt collection attempts to retain what you owe them.
When you file for Chapter 7 bankruptcy, you essentially place your property and debts into the hands of the bankruptcy court. This means that you cannot sell or give away property or even pay off debts accrued before you filed. Your bankruptcy trustee can ensure that your creditors are paid the greatest possible amount and your debts will be satisfactorily fulfilled at the end of the process. A bankruptcy discharge wipes out many of your debts, and we can tell you which of your debts cannot be discharged during a free case evaluation. Contact a New York City Chapter 7 bankruptcy lawyer from our firm right away!