BankruptcyLET’S WORK TOWARDS A FRESH FINANCIAL START.
At Dalbir Singh & Associates, P.C., we understand that a job loss, a sickness, a separation or divorce, or just a home that has become a little too expensive can cause financial issues that you may think you cannot escape. It is our job to ensure you know what your options are, and how Chapter 7 Bankruptcy filing may be able to help you obtain a fresh financial start.
If you’re swamped with credit card debt, a car you cant afford, medical bills, student loans, judgments, or other debt, filing Chapter 7 Bankruptcy in New York can be the best way for you and your family to obtain the fresh start you’ve been looking for. Why? Because filing Chapter 7 Bankruptcy allows you to discharge your debt while keeping certain assets. That means you can get rid of a court judgment, a medical bill, a bank loan, or thousands of dollars in credit card debt, while still potentially keeping the home you live in.
HOW IS BANKRUPTCY A FORM OF DEBT RELIEF?
When it comes to finding relief from overwhelming debt, Dalbir Singh & Associates is dedicated to helping clients find the best way to find relief. Bankruptcy is one means of debt relief that few people want to think about; however, in some situations it could be the most efficient means of obtaining a fresh financial start. The U.S. Bankruptcy Code offers consumers two ways to find debt relief through bankruptcy: liquidation bankruptcy and reorganization bankruptcy.
TYPES OF CONSUMER BANKRUPTCY
Chapter 7 of the Bankruptcy Code is known as liquidation bankruptcy because anyone who qualifies must liquidate any nonexempt assets – sometimes their home or car – to repay as much of their debt as possible before the rest is discharged. Consumers can only qualify for Chapter 7 if they pass the means test, proving that their income is insufficient to afford any form of repayment. Chapter 13 of the Bankruptcy Code allows a consumer to negotiate a repayment plan with his or her creditors. Over the next three to five years, the consumer continues to make payments on the debt, after which time the remainder is discharged.
WHAT YOU GET WHEN YOU HIRE US.
- Unlimited Phone Calls to a New York City Chapter 7 Bankruptcy Attorney to answer all of your questions
- Unlimited Emails to a New York City Chapter 7 Bankruptcy Attorney, most of which are usually returned in a few hours.
- Preparing the entire Bankruptcy Petition.
- Preparing you for your meeting with the Trustee, also known as the 341 hearing or the “Meeting of the Creditors”
- Representing you at the Meeting of the Creditors after filing Chapter 7 Bankruptcy.
- Helping you prepare Cease and Desist letters to be sent to your creditors, helping to ensure all of the harassing communication from debt collectors stops.