White Plains, New York Chapter 7 Bankruptcy Lawyer
Chapter 7 bankruptcy, or liquidation bankruptcy, allows you to get the fresh start you need by eliminating your unsecured debt including credit card debt and medical bills. Many of our clients facing financial hardship suffer because of an unexpected event such as an injury, job loss or divorce. When you are faced with overwhelming debt and need relief, the Law Office of Steven A. Campanaro can help you examine all of your debt relief options and pursue the one that works for you. Contact us for an initial consultation or case evaluation.
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is sometimes referred to as a "liquidation bankruptcy." This means that if you file under Chapter 7 of the United States Bankruptcy Code, you must surrender your non-exempt assets to a bankruptcy trustee, who will liquidate — or sell off — your property. The proceeds of the sale will be put towards what you owe your unsecured creditors such as the credit card companies or medical service providers. Secured creditors, like the bank who holds your mortgage or automobile loan, are usually permitted to repossess the collateral that secured your loan (e.g. car or home). Even though the sale total will be less than your outstanding debts, when your bankruptcy is final, many of your debts will be discharged. Certain types of debt, however, are not dischargeable in bankruptcy. These non-dischargeable debts include child support arrears, taxes and student loans.
You may have heard that the Bankruptcy Code was amended in 2005, making it more difficult to qualify to file under Chapter 7. Under the new law, if your monthly income exceeds the median income for your geographical area, you will have to meet a means test. In our experience we have found that most people who qualified for Chapter 7 bankruptcy prior to the change in the law still do under the new law. To determine whether you qualify for Chapter 7 and whether this alternative can help you get the fresh start you need, please call to schedule an appointment with our attorney. If you have a source of regular income and a home and vehicle you would like to protect in bankruptcy, you may choose to proceed under Chapter 13 instead.
Is Chapter 7 bankruptcy right for me?
There is a lot you need to take into consideration when deciding whether to file for bankruptcy under Chapter 7. The value of all your current assets, the amount of your spouse's income, and your goal for financial security in the future are just a few of the things you need to look at when making such a decision. In determining whether Chapter 7 bankruptcy is the right option for you, we will review your debts and assets and talk about how you got into financial trouble. We will discuss and review all of your options and alternatives before determining whether Chapter 7 bankruptcy is right for you.
Bankruptcy is not always the appropriate solution and there may be another option available. We will provide honest and forthright guidance to secure a debt relief option that is right for you.
If bankruptcy is the right option for you, we will provide sound guidance and representation through every step of your case, including, but not limited to:
- Referral to a court-approved debt counseling service prior to filing to review your assets and financial disposition (this is required under the law and typically must be completed before filing for bankruptcy)
- Drafting and filing a Chapter 7 bankruptcy petition on your behalf
- Attendance at all creditor meetings and aggressively asserting your rights against creditors
- Provision of counsel and guidance, and protection of your rights through to the final discharge of your debts
Debtor Representation in Adversary Proceedings
In addition to filing bankruptcy and pursuing your Chapter 7 discharge, we also handle adversary proceedings on behalf of debtors and creditors. We are experienced in handling matters such as violations of the automatic stay, creditor harassment proceedings, preference actions and fraudulent conveyance actions. Contact us if you are a creditor or a debtor facing these adversary proceedings.
Affordable legal solutions for debt relief • Free initial consultations • Contact Steven A. Campanaro to speak with an experienced White Plains, New York Chapter 7 bankruptcy lawyer
Law Office of Steven A. Campanaro
244 Westchester Avenue, Suite 410
White Plains, NY 10604
Telephone: (914) 686-0634
Fax: (914) 684-9108
E-mail