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Bankruptcy Law Info

Are you burdened with debt and wondering if filing bankruptcy is right for you?


If you’ve found your way to our bankruptcy law site, you may be dealing with the stress and emotional turmoil that often comes along with financial problems. If you are experiencing monetary issues or seeking credit card debt relief it is important to analyze your financial situation and take into account all of the pros and cons, as there are many rules, regulations and consequences to consider before filing bankruptcy.


A New York City bankruptcy attorney at Rosenberg, Musso & Weiner, L.L.P. can help you make this difficult decision. We have over 60 years of combined experience in bankruptcy law. Our personalized and caring services can help you determine the most appropriate debt relief strategy for your individual situation. We’ve provided the following information to help you get an understanding of what bankruptcy is and how it may be able to help.

What is Bankruptcy?


Bankruptcy is a federal court authorized proceeding that allows financially troubled consumers and businesses to eliminate or re-pay a portion or all of their debts. It also ensures that assets are fairly distributed among creditors.


Many debtors who consider bankruptcy have suffered severe financial setbacks caused by life-changing events such as job loss, death, business problems, illness or divorce. Filing bankruptcy can help you reduce financial pressures, attain credit card debt relief and get back on your feet again. In most cases you can start rebuilding your credit immediately after applying. However, it’s important to seek the guidance of an experienced bankruptcy lawyer to help you determine the best course of action. (read more)

Individual or Consumer bankruptcy


If you have suffered a financial setback and cannot keep up with your credit card, mortgage or other debt payments, filing personal bankruptcy may help you reduce or eliminate debt and offer you a fresh start. (read more)

Commercial Bankruptcy


When businesses find themselves unable to keep up with their financial obligations, filing a commercial bankruptcy can help reduce or eliminate debt and can cure defaults in leases and secured debt. If you have a company that is facing financial difficulties, you may want to consider filing bankruptcy to give you time to re-pay or discharge your debt. (read more)

Understanding the BAPCPA credit counseling requirement.


The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 requires that most individuals participate in a credit counseling course given by an approved non-profit agency within 180 days before filing a petition. However, this should not be confused with bankruptcy alternatives offered by credit counseling or debt settlement companies who often charge high fees and recommend solutions that are not always in the best interest of individual debtors. (read more)

Financial problems also take a toll on one’s emotions.


The circumstances that lead one to consider bankruptcy can have both practical and emotional repercussions for the debtor and their family. A loss of social status and financial security often undermine one’s sense of self-worth, confidence and hope for the future. It is not unusual for a debtor to experience a range of powerful negative emotions when they feel as if their entire world has been turned upside down. (read more)

Frequently asked questions


The bankruptcy law is complex and sometimes confusing.  Our FAQs page answers some frequently asked questions about bankruptcy.  (read more)

Contact us.


If you are experiencing financial troubles and considering filing bankruptcy, schedule a bankruptcy consultation with a New York City bankruptcy attorney at Rosenberg Musso & Weiner. We will analyze your situation and counsel you on whether or not to file. 718-795-2415.

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