Experienced Newburgh Lawyer Handles Chapter 7 Bankruptcies
Hudson Valley firm guides New York clients seeking lasting debt relief
Regardless of the size of your debt, you don’t have to endure constant communications and possible mistreatment from creditors. Chapter 7 bankruptcy exists to help individuals and businesses who require intervention to ease their financial burden. Throughout the Hudson Valley, Michael D. Pinsky, P.C. advises clients on the process that allows them to discharge their nonexempt debts and start to rebuild their credit. My firm starts by reviewing your situation in exacting detail and outlining the benefits and potential drawbacks of a Chapter 7 proceeding.
Established attorney delivers strong guidance throughout the bankruptcy process
If you’re struggling with debt and no feasible repayment option exists, I will detail the Chapter 7 bankruptcy process in a free initial consultation. After discussing your situation, I will go over key aspects of these legal matters, including:
- Means test — Chapter 7 bankruptcy is a powerful solution to serious debt problems, but not everyone can or should utilize this option. A means test exists to determine if someone is eligible for this type of relief. I will review your income, assets and bankruptcy history to find out if this is the right program for you.
- Protection against collections efforts — After your matter is filed with the bankruptcy court, a trustee is appointed and an automatic stay is issued, which halts litigation and other collection actions being taken against you. At this point, the court is in control, which means that the businesses and individuals seeking payment from you must operate within the bounds of the bankruptcy proceeding.
- Creditors’ meeting — The formal encounter with the Chapter 7 trustee that everyone who files for bankruptcy relief must attend and briefly testify about the information contain in your bankruptcy petition. If you qualify for debt discharge, you usually must only go to court for this meeting convened by the bankruptcy trustee. There, your creditors will discuss their respective claims so all of the involved parties have a complete perspective regarding available assets and other matters. In this meeting, I will represent you and protect your interests.
- Liquidation — Some debtors have assets that bankruptcy judges can force them to surrender to help repay creditors’ claims. Before you make a decision on filing, my firm outlines what property might be at risk and what items are protected from liquidation.
- Discharging your debts — Once the bankruptcy is finalized, most or all of your debts are discharged and you can begin to restore your credit. It’s important to remember that certain types of debt, such as past due child support, tax payments and student loan obligations, usually cannot be eliminated through bankruptcy.
Obtaining sound advice from a qualified bankruptcy lawyer is the first step toward relieving the pressure that’s associated with serious debt. I will give you knowledgeable, personalized counsel at every phase of the proceeding and help you achieve the fresh start you deserve.
Contact a Hudson Valley bankruptcy attorney for a free consultation regarding Chapter 7
Michael D. Pinsky, P.C. represents clients throughout New York’s Hudson Valley in a full range of bankruptcy matters. Please call 845-394-2616 or contact me online for a free initial consultation at my office in Newburgh.