With the sudden downturn of the modern economy, especially over the last few years, millions of people living in the United States have filed for bankruptcy. Our community in Long Island has not been immune to the effects of this poor economy, with thousands of bankruptcy filings being filed in the last two to three years.
If you are among those considering filing for bankruptcy, begin by working closely with the very best bankruptcy attorney you can find. Not only can they tell you how to file bankruptcy, but they will be with you every step of the process. When you retain an experienced bankruptcy attorney you can rest assured that you will come out on top of this tough situation with your financial future still perfectly intact.
What is Bankruptcy?
Bankruptcy is a process where consumers and businesses can repay or eliminate some or all of their debts under the protection of the federal bankruptcy court. Bankruptcies are typically divided into two types:
- Liquidation – This type of bankruptcy allows the bankruptcy trustee to take and liquidate some of your property to repay some of your debt.
- Reorganization – This type of bankruptcy allows you to keep your property but your debts are reorganized so you can make monthly payments over three to five years to pay back some or all of your debt.
How do I file for bankruptcy?
You may wondering how to file for bankruptcy. While it may seem like a daunting task, a knowledgeable bankruptcy attorney can help you every step of the way.
Determining if bankruptcy is actually the right path for you to follow is the first step. While bankruptcy is often a viable option for those under a mountain of debt, there are other services that your bankruptcy attorney can offer that might be a better solution. Services including debt consolidation, mortgage modification, creditor negotiations and more that could be a better alternative for your individual situation.
Next, you will need to determine what kind of bankruptcy is right for you. There are several different bankruptcy chapters you may wish to take advantage of. The eligibility requirements for Chapter 7 and Chapter 13 are different and sometimes it’s hard to know which one is best.
As soon as you and your attorney decide on which chapter is best for your situation, simply let your attorney take the rains. Once you file for bankruptcy there will be a legal stop to collection agencies and creditors calling and contacting you. This will also ensure your assets remain unfrozen and unfettered.
Can Blutter & Blutter Help Me File for Bankruptcy?
When facing bankruptcy you need the expertise of an experienced bankruptcy attorney. Blutter & Blutter offer a high-level of expertise in bankruptcy law. Our team can help you negotiation of your bankruptcy, finalization of your federal bankruptcy situation and even handle courtroom proceedings if necessary.
After 55+ years of practice, Blutter & Blutter have the experience, resourcefulness, and dedication that have help hundreds successfully navigate bankruptcy. Call their office to set up a free consultation and to get advice on your specific situation.