Consumer Bankruptcy

Stop Creditor Harassment and Avoid Foreclosures

The main reasons that an individual will consider filing for personal bankruptcy, is to stop foreclosures or end creditor harassment and wage garnishment. Some people have tried a debt relief program or debt consolidation and could not make it work. Others have too much credit card debt and so must declare bankruptcy. Still others have lost a job, or suffered a major illness, which resulted in huge medical bills. There a variety of reasons why someone would consider declaring personal bankruptcy.

No mater why your financial problems began - we can help end them if you decide to declare bankruptcy.

Our law firm is familiar with the bankruptcy code, and with the types of bankruptcy an individual would file in the state of New York. There are two types of bankruptcy an individual would file:

Chapter 7 consumer bankruptcy – is a debt liquidation bankruptcy in which most debts are eliminated, as well as many assets. There are certain assets, which are exempt under this bankruptcy code, such as a house, and one motor vehicle (with some restrictions)

Chapter 13 consumer bankruptcy - is a debt consolidation bankruptcy that is generally for wage-earners. In this form of bankruptcy, an individual’s debts are consolidated, some debts are reduced, and a payment plan is set up to repay the remaining debt over a specified period of time. Payments are made to a trustee and then the trustee pays the creditors directly.

Our law firm also represents creditors in their efforts to collect from those who declare bankruptcy.

Our attorneys can provide you with guidance if you are considering filing personal bankruptcy under either Chapter 7 or Chapter 13 of the bankruptcy code. An initial consultation will help us determine which type of bankruptcy may be right for your particular situation – or whether a bankruptcy will achieve your objectives.

Bankruptcies aren’t right for everyone. We’ll help you decide if it is right for you. If you live in Albany County or elsewhere in Upstate New York, and are considering filing personal bankruptcy, we urge you to call or contact our Latham New York lawyers to schedule an appointment.