When clients come to my office and are looking to file a Chapter 7 bankruptcy, they are normally struggling with money. Many individuals ask me how they can pay lawyers fees and filing fees to file a bankruptcy, if they can’t pay their credit card debt. I always tell my clients that if they want to file bankruptcy, we can work out a bankruptcy payment plan to help them.
In an economy where the coronavirus is dominating headlines, people are out of work and unable to pay their high interest cred cards, debt still remains one of the largest issues that consumers struggling financially face.
Credit card debt, divorce and medical bills are some of the biggest reasons consumers are forced to file bankruptcy. If you are struggling to make your minimum credit card payments, you are not alone. Most people in New York are strugging with large credit card bills every day.
When A credit card account has been delinquent, or unpaid, for more than 180 days, banks will charge off this debt. You may see something on your credit report that says “charge off” with a $0 balance. Many assume this means that the credit card companies are letting that debt go. This is abosultely wrong. When a “charge off” is reported by the credit cureaus it means that the debt has been sold off to a debt collection who will call, harass and even sue you.
To determine if you should file bankruptcy in Staten Island, you will need to determine where to start. Karra L. Kingston Esq. can help you and give you an overview of the bankruptcy processs. Our bankruptcy lawyers can walk you through the process and provide you with great resources to help you get out of debt.
If you are struggling to pay your debt are looking to file bankruptcy you may wonder where you have to go to file a bankruptcy petition. Individuals, who want to file a Staten Island bankruptcy, often come to our office and ask “Where Do you file bankruptcy if you live on Staten Island?” Many individuals filing a Staten Island Chapter 7 or Chapter 13 bankruptcy are surprised to learn that there is no Staten Island Bankruptcy court on Staten Island. To file bankruptcy, people who live in Staten Island must file their bankruptcy case in the Eastern District of New York. The nearest bankruptcy court for people in Staten Island searching to file in the Eastern District is located in Brooklyn. The Bankruptcy Court n Brooklyn is located at 271-C Cadman Plaza East. Individuals who want to file bankruptcy will need to go to Brooklyn to attend their meeting of creditors.
Many individuals file bankruptcy each year because they are riddled with unsecured debts. Unsecured debt is debt that is not attached to anything. Some of the most common types of unsecured debt are credit cards, medical bills, personal loans. Secured debts, on the other hand, are secured by collateral. For example, a mortgage is attached to property by a lien. If the lien goes unpaid, the mortgage company can foreclose and take the home.
With the high rates of unemployment and the economy in danger, people will seek out bankruptcy lawyers to help them get out of debt. Bankruptcy is a legal proceeding involving a business or person that can’t afford to pay their debts.
Many people often ask us how filing bankruptcy in New York or New Jersey will impact them after their bankruptcy is completed. Many people often ask us “can I own anything after I file bankruptcy?” The answer to this question is simply, yes.
There are many things that you should not do before you file bankruptcy. Read on to find out the top five things that should not be done before filing bankruptcy.
If you are wondering how much debt you have to be in to file for bankruptcy, you should know that there is no minimum set amount. In order to determine if you should file for bankruptcy, you should consider how much income you have and if you can afford to pay back your debts.
Many people wonder if they can file bankruptcy without their spouse. You can file bankruptcy without your spouse without it having any impact on your spouse.