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What we can do for you: Our attorneys will analyze you case and assist you in deciding whether a Chapter 7 or 13 is appropriate in your case. If a Chapter 13 is the case, a plan will be prepared that will be submitted to the Trustee in Bankruptcy for his review and recommendation to the Bankruptcy judge. The paralegals will prepare the bankruptcy applications and the case is filed. Upon notice of the first Creditors Meeting, an attorney will accompany you and will be available to assist in with anything take may come up. If it is a Chapter 13, the attorney will also be with you at the final Confirmation Hearing at eh Bankruptcy Court. If you are outside the State of New York and New Jersey, we can either prepare the application, file it and prepare you for the hearing without a lawyer. This will save you a lot of money. We can also find you a lawyer anywhere in the United States that will be go with you on the appropriate date.

Chapter 7 bankruptcy refers to the chapter of the federal statutes (the Bankruptcy Code) that contains the bankruptcy law. Chapter 7 bankruptcy is sometimes called "straight" bankruptcy. This bankruptcy cancels most of your debts; in exchange, you might have to surrender some of your property. The whole Chapter 7 bankruptcy process takes about four to six months, costs $200 in filing and administrative fees, and commonly requires only one trip to the courthouse. Many people believe that you will lose your house, should you file a Chapter 7. This is not necessarily so. Analyses has to be made using the value of the house, the mortgage and the State's laws regarding "exemptions."

Chapter 13 bankruptcy has been traditionally used by people facing foreclosure of their home. It lets you rearrange your financial affairs, repay a portion of your debts and put yourself back on your financial feet. You repay your debts through a Chapter 13 plan. Under a typical plan, you make monthly payments to someone called a bankruptcy trustee, who is appointed by the bankruptcy court, for three to five years. The bankruptcy trustee distributes the money to your creditors.

Chapter 13 bankruptcy is wonderful part of our federal laws. You can use it to stop a house foreclosure, make up the missed mortgage payments and keep the house. You can also pay off back taxes through your Chapter 13 plan and stop interest from accruing on your tax debt.

Filing for bankruptcy puts into effect something called the "automatic stay." The automatic stay immediately stops your creditors from trying to collect what you owe them. Usually, for the period of the Bankruptcy, creditors cannot legally take (garnish) your wages, deplete your bank account, go after your house, car, or other property. Until your bankruptcy case ends, your financial problems are in the hands of the bankruptcy court. It assumes legal control of the property you own (except your exempt property, which is yours to keep) and the debts you owe as of the date you file. Nothing can be sold or paid without the court's consent. You have control, however, with a few exceptions, of property and income you acquire after you file for bankruptcy.