Bankruptcy Attorney Roosevelt NY
We are the top-rated Bankruptcy Attorney Roosevelt, NY. Robert H. Solomon has been working with individuals and businesses for the past three decades helping thousands of clients with their bankruptcy cases. As an experienced Long Island Bankruptcy Attorney, Robert has also made sure that his clients are aware of the best options available to them regardless of where they stand with regard to the Bankruptcy Code. He has helped countless of families and individuals by reducing creditor harassment as well as determining which proceedings suited those best: Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Chapter 11 Bankruptcy, Foreclosure, and other bankruptcy alternatives.
Why chose a Bankruptcy Attorney Roosevelt NY?
As an experienced Nassau County Bankruptcy Attorney, Robert Solomon will find an effective and efficient way to make sure that your debt is resolved with the least negative impact on your family. He understands the stresses that come with bankruptcy as well as the negative impact it may have on your life, which is why he will not only fight your creditors off, but also make sure that you will be able to not only plan for the future, but also get that fresh start that you’re looking for.
Call to make an appointment and stop by our Uniondale office today for your free consultation. Bear in mind, there’s no obligation: All we have to do is see which chapter in the Bankruptcy Code you’re qualified for. If you wait too long, things could get worse; remember, there’s always an option to save your home from foreclosure, and your other items don’t have to be repossessed, Robert H. Solomon can and will help you find that alternative solution to your financial needs.
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What is Bankruptcy?
Bankruptcy a legal proceeding that allows an individual who cannot pay his or her bills can get a fresh financial start. The right to file for bankruptcy is provided in the Federal Bankruptcy Law, and all bankruptcy cases are prosecuted in Federal Court. The filing of a bankruptcy petition immediately stops all creditors from seeking to collect debts while the Court accesses your financial situation and determines if bankruptcy relief may be granted in your case.
What is Chapter 7 Bankruptcy?
Chapter 7 is that part of the United States Bankruptcy Code that deals with liquidation, which means the selling of all non-exempt assets by a court appointed trustee. The proceeds of the sale are used to pay creditors. In return, a debtor receives a discharge, which releases a debtor from all dischargeable debts and orders creditors to forever stop their attempts to collect the discharged debts.When a debt is discharged, a debtor is forever relieved of the obligation to pay that debt. Not all debts are dischargeable. Non-discharged include certain taxes, alimony, child support, student loans, debts that have not been listed in the Chapter 7 petition, and debts which have been incurred as a result of either an intentional tort or the defrauding or misleading of a creditor.
What is a Chapter 13 Bankruptcy?
Chapter 13 of the United States Bankruptcy Code is designed primarily for residential homeowners, and allows a person or married couple to pay off all, or a portion, of their debts under the supervision and the protection of the U.S. Bankruptcy Court.Chapter 13 is designed for working people, with steady incomes, who are overwhelmed with bills, judgments, lawsuits and other financial concerns. A Chapter 13 Plan is primarily used to repay mortgage arrears, and a percentage, or all, of the money owed to your other creditors, over a 3-5 year period. Chapter 13 can also be used as an alternative to credit counseling wherein an individual can repay their credit card debt over a 3-5 year period without the accrual of additional interest charges.While a Chapter 13 case is in effect, creditors can not start or continue their collection efforts, and must accept what the plan pays to them. Any individual or married couple, even if self-employed, can receive Chapter 13 relief if they owe less than $250,000.00 in unsecured debt and less than $750,000.00 in secured debt.Upon the successful completion of a Chapter 13 repayment plan, the debtor receives an official discharge and certificate of completion, which extinguishes all obligations to make further payments on unsecured debts, even though these creditors may not been paid in full. In fact, many people in Chapter 13 pay their unsecured creditors no more than 10, 20 or 30 percent of the total amount owed.