You don’t have to face your bankruptcy case alone. You don’t have to endure harassment from creditors. You don’t have to suffer from a bad credit reputation and self-image.
You can surely find reliable local law firms and best bankruptcy law firms near you. You can find a bankruptcy law firm company in Brooklyn, NY who can truly help you achieve a fresh start after a financial struggle.
A Brooklyn, NY bankruptcy lawyer from Rosenberg Musso and Weiner LLP will help you identify if bankruptcy is the best option for you and what type of bankruptcy will work best for your case where you can find relief from your piled up debts and bills.
Rosenberg Musso and Weiner LLP is a legal law firm which offers a law firm lawyer to manage your bankruptcy efficiently. The law firm provides legal services and advice in all chapters of the federal bankruptcy code namely Chapter 7 Bankruptcy, Chapter 11 Bankruptcy and Chapter 13 Bankruptcy:
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is also called “straight bankruptcy” or “liquidation bankruptcy” of which a trustee will take and sell your assets and use the proceeds as the payment of your debts.
If you wish to file for Chapter 7 bankruptcy, you need a professional hand to manage your case. You need a Brooklyn, NY bankruptcy lawyer to lawfully defend you from the opposing party and represent you in the court, whether you are a homeowner or a worker seeking for Chapter 7 protection. The most common type of debts you can discharge in Chapter 7 include:
Credit card charges
Medical bills
Business Debts
Unsecured Debts
And there are types debts that cannot be discharged under Chapter such as child support, taxes, student loans, and of court-ordered damages awards.
In Chapter 7, you usually receive a discharge four months after the filing of the petition, as the court usually approves the discharge 60 days after the “Meeting with Creditors.”
Chapter 11 Bankruptcy
Chapter 11 bankruptcy is a “business reorganization” type of bankruptcy which mainly focuses on businesses and corporations to find relief from their debts.
Brooklyn, NY bankruptcy lawyers collaborate with financial experts in creating debt reorganization plan to prevent your debts from interfering with your business activities. To achieve your bankruptcy case goals, they must:
Structure a strong plan;
Negotiate effectively with the creditors’ committee how they’ll benefit according to the plan
Once the reorganization plan is confirmed, it discharges the debts of a debtor may it be a corporation, partnership or individual proprietorship.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is another “reorganization” type of bankruptcy, yet focuses on individual debtors with regular income to pay a reasonable part of their debts through a repayment plan. Most people file for Chapter 13 to prevent house foreclosures and car repossession.
In Chapter 13 repayment plan, a debtor must comply with monthly payments. You can fund your repayment plan through:
Employment wages
Self-employment income
Social Security benefits
Alimony or child support
Unemployment or disability benefit
Rents
Residuals
Pension payments
Returns from the sale of businesses or properties
It usually takes three to five years to receive a discharge in Chapter 13 bankruptcy. It may take a while, but you’ll still end up debt-free with your credit reputation repaired.
Your bankruptcy journey wouldn’t be easy since the law is known for its complex nature. But with the help of a Brooklyn, NY bankruptcy lawyer, you can go through the legal process smoothly.
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Rosenberg, Musso & Weiner, L.L.P
26 Court St # 2211
Brooklyn, NY 11242, USA
718-855-6840
http://nybankruptcy.net/
