Chapter 7 bankruptcy allows you to get a fresh start quickly. In a Chapter 7 bankruptcy, your non-exempt assets (if any) are liquidated and used to pay off debt. In most cases, no assets are liquidated. When you file for a Chapter 7 bankruptcy, you can essentially become debt-free overnight. All consumer debts are dischargable.
A Chapter 13 bankruptcy works differently than a Chapter 7. Instead of liquidating assets, a Chapter 13 bankruptcy sets you up with an affordable repayment plan that usually lasts three to five years. There are several reasons for using a Chapter 13 bankruptcy.
If you’ve fallen behind on your house payments and your lender has sent you an intent to foreclose on your property, you must act quickly! You still have options available to help you stay in your house. If you do not respond in the foreclosure action within 20 or 30 days, you are automatically in default.
Are you struggling to make ends meet? Let Thomas M. Denaro, Esq. help you.
Many people are forced to turn their hard-earned paychecks over to a mountain of bills every month, only to find that they cannot pay much more than the minimum amounts due. As a result, they get caught in a vicious cycle where they never make any headway and get deeper and deeper in debt. If you dream of being debt-free, you might want to consider filing for bankruptcy.
There is often a stigma attached to bankruptcy. People worry that it will damage their credit and keep them from getting a mortgage or applying for any other loans for the rest of their lives. Bankruptcy, however, is not part of the problem; it is part of the solution. Any damage your credit suffered is from before bankruptcy, not as a result of the bankruptcy. Filing for bankruptcy could allow you to erase much of your debt without tax ramifications, and you will be able to begin rebuilding your credit two years after your discharge.
For help with your case, call us at 718-863-6000 or fill out our online form. We always have two experienced bankruptcy attorneys on call waiting to answer your questions.
Attorney Thomas Denaro has several decades of experience in many areas, including:
Offering Extensive Experience and Knowledge Regarding Bankruptcy Law
Bankruptcy law has many different aspects to consider, so it is best to hire a lawyer with the skills and knowledge needed to successfully navigate a bankruptcy filing. Attorney Thomas Denaro has over 30 years of experience in bankruptcy court and a genuine desire to help his clients turn their financial problems around. He can offer you long-term solutions to your debt obstacles, rather than just a quick fix. Mr. Denaro’s lengthy resume includes:
Over 33 years of experience working with individuals, couples, and small businesses to improve their finances;
Member of the National Association of Consumer Bankruptcy Attorneys (NACBA);
Lecturer for continuing education credits for the Association of Public Accountants;
Admitted to practice in all New York State Courts, and the Federal District Court for the Southern and Eastern Districts of New York.
Thomas Denaro, Esq. is deeply committed to helping people get out of debt and back on their feet. If there is a way he can help you, he will find it.
Contact a Bankruptcy Lawyer Today
The best time to get out of debt is right now. For a free consultation of your situation, call 718-863-6000 or fill out our online form.