Struggling With Debt? Bankruptcy May Be a Solution
If you have decided to file for bankruptcy or have questions about how bankruptcy can help you, it is important to consult with an experienced bankruptcy attorney who can offer you the guidance you need. At the Law Office of Andrew M. Doktofsky, in Huntington, NY, I have over twenty years of experience providing knowledgeable counsel to clients throughout Long Island and New York City. My firm provides individuals and businesses with assistance in all types of bankruptcy matters. Whether you are seeking a Chapter 7 discharge of your debts, or a debt repayment plan under Chapter 13, I will provide you with the guidance you need to resolve your debt problems.
Discharging Debts Through Chapter 7 Bankruptcy
A Chapter 7 bankruptcy is unquestionably the fastest, most decisive method of relieving people of the weight of debt. My firm guides clients in Nassau and Suffolk counties through each step of the procedure, including:
Eligibility – First, I review your situation to see if you are able to obtain this type of protection based on factors such as your assets, income, and bankruptcy filing history.
Automatic stay – Once you file for bankruptcy, an automatic stay immediately takes effect. That means creditors can no longer harass you, bring lawsuits or contact you to collect what you owe them.
Meeting of creditors – This is a meeting with the Chapter 7 trustee. The meetings are now conducted by video, so you can appear at the meeting from home or my office. The trustee will ask you questions about your finances, assets and debts. Creditors rarely attend the meeting.
Liquidation and discharging debt – Most consumer Chapter 7 cases result in no distribution to creditors, because most assets are exempt from being sold by the trustee. If there are nonexempt assets, they will be sold to help pay your creditors. Most debts are dischargeable in bankruptcy, although there are many exceptions to discharge.
Starting with a free initial consultation, I will help you anticipate what you can expect during the Chapter 7 bankruptcy process, which typically takes approximately three months to complete.
Repayment of Debts Through Chapter 13 Bankruptcy
In some instances, for people whose income exceeds the Chapter 7 limits or whose assets exceed the amounts that can be exempted, a Chapter 13 bankruptcy may be the answer. In Chapter 13, the debtor proposes a debt repayment plan. My firm works diligently to prepare a Chapter 13 plan that will be approved by the court, and that will allow you to discharge your debts within three to five years.
Let Me Help You Tackle Your Financial Challenges
Having practiced bankruptcy law for over 20 years, I know the relevant law and understand how it applies to different types of clients:
Individuals – No two situations are the same. I work closely with people and families to devise a debt-relief solution that addresses their unique needs.
Business owners – Small business owners frequently rely on personal assets to keep their operations afloat. I assist small business clients with bankruptcies with the goal of eliminating or limiting the client’s personal debt obligations.
Divorcing spouses – Bankruptcy and divorce are often intertwined. Money problems and the stress associated with unmanageable debt can lead to marital discord and eventually divorce. Conversely, divorce itself can be a cause of bankruptcy when spouses are left with large debts and legal fees. My firm helps clients rebuild a strong financial foundation for the next chapter in their lives.
For any type of bankruptcy, I will personally handle every legal task, from the initial consultation to the meeting with the trustee.
Schedule a Free Initial Consultation
Andrew M. Doktofsky represents Long Island and New York City clients in a full range of bankruptcy and debt relief matters. Please call (631) 673-9600 or complete the contact form below to schedule a free initial consultation.
Andrew M. Doktofsky P.C. is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.