Bankruptcy and Debt Creditor

Bankruptcy can provide very substantial assistance to persons facing financial difficulties.

First, the filing of any type of bankruptcy creates immediate relief from your debts in the form of the “automatic stay”. This is a provision of the Federal Bankruptcy Code that requires creditors to stop all collection activities during your bankruptcy case. Harassing phone calls and letters will stop. Wage garnishments end, lawsuits are halted, bank account restraints are lifted, and foreclosure proceedings are postponed.

In the most common type of bankruptcy case, called a Chapter 7 (or liquidation) bankruptcy, your assets are divided into two categories. First, there are exempt (or protected) assets. These are assets you can keep despite your bankruptcy filing. Pensions and retirement accounts,  most personal possessions, motor vehicles, homes are all protected in whole or part.  At the conclusion of your case, you will receive a Court Order discharging you from any further obligation to pay your debts. Some debts survive bankruptcy and are not discharged, such as student loans, criminal fines, child support and spousal maintenance payments. 

A free consultation with our firm is the best way to determine whether bankruptcy is an approporiate method to help you with your financial problems.  

Our attorneys deal with helping clients with bankruptcy and debt management throughout New York. If you have financial troubles due to divorce, separation, the loss of a job, or mounting medical bills, are facing foreclosure, or are considering whether bankruptcy may be the right option for you, Law firm BARAM & KAISER, ESQS, Attorneys at Law, may be able to help.  Bankruptcy and debt management are what we focus on. By providing clients with the legal counsel and representation of an experienced and skilled bankruptcy lawyer in New York, we help them secure a bright financial future – one free from threatening creditors. Navigating through the often complicated process of filing for bankruptcy may be difficult, particularly when you consider the impact that filing a Chapter 7 or Chapter 13 case may affect you now and for years to come. When you contact a bankruptcy attorney at our law offices, our goal will be to provide you with the information you need to make your own decision about moving forward with bankruptcy. With the right information on this topic, you can weigh the advantages and disadvantages and determine whether filing for bankruptcy is actually the right option for you.