New York Bankruptcy Information
Making the decision to file for bankruptcy may be difficult, as it could have a major impact on you financially. However, this impact may be entirely positive. Working with an experienced attorney helps, as you can be sure that your case will be properly filed and that your interests will be represented.
If you would like to determine what type of bankruptcy is right for you, a NY bankruptcy lawyer at the Law Office of Taran M. Provost, PLLC can discuss your options during a free consultation today. After your consultation, you will walk away with a better understanding of the bankruptcy process, including the Bankruptcy laws, Chapter 7 Bankruptcy Rules, and filing Chapter 7 Bankruptcy.
Not everyone will qualify to file a chapter 7 bankruptcy case. Eligibility to file for chapter 7 is primarily determined by your annual household income. Generally speaking, chapter 7 is more beneficial for debtors with little to no income and who do not have extensive assets to protect. However, in many cases, individuals with high income and substantial assets can still file for chapter 7 successfully with little risk of losing their property.
Chapter 7 is quicker than Chapter 13, as a Chapter 13 repayment plan will last from 3 to 5 years. A Chapter 7 proceeding typically takes 3 months from the date of filing. However, a Chapter 13 can offer a debtor with regular income more protection for his or her assets.
Filing Chapter 7 Bankruptcy — A New York Bankruptcy Attorney Can Help
By talking to you about your goals and your particular financial situation, bankruptcy lawyers can work with you to determine what type of bankruptcy is right for you. At the Law Office of Taran M. Provost, PLLC, you can count on us to honestly evaluate your case and help you experience the debt relief chapter 7 or chapter 13 has to offer.
Contact a New York bankruptcy lawyer at our law firm to talk about filing Chapter 7 bankruptcy and what type of case would most benefit your unique situation.
Law Office of Taran M. Provost, PLLC
Toll Free: 845-675-3243 | 24-Hours, 7 days per week
3 Cannon Street, Second Floor
Poughkeepsie, NY 12601
227 Willow Drive
Mahopac, NY 10541