If you are considering filing bankruptcy in Staten Island, you may be wondering “what can a Staten Island bankruptcy lawyer do for me?” Being behind on bills can be extremely stressful. If you are in a financial rut and considering filing bankruptcy, it’s natural to wonder if you should hire a bankruptcy lawyer to help you. You may think that by not hiring a bankruptcy lawyer to help you, you will be saving money. This is a costly mistake and can cause you an even bigger financial hardship. Hiring a bankruptcy lawyer to help you file your Staten Island bankruptcy can save you a lot of hassle and stress by ensuring that your case is handled properly.
If you are wondering what a bankruptcy lawyer can do to help you, here are some of the things they can do for you:
(1) A Good Staten Island Bankruptcy Lawyer will Make Sure You File the Right Bankruptcy
The most common types of bankruptcy that individuals in Staten Island can file are Chapter 7 bankruptcy and Chapter 13 bankruptcy. Both bankruptcy chapters allow individuals to get a fresh financial start.
Chapter 7 bankruptcy
A Chapter 7 bankruptcy allows you to discharge your debts. This means that you will not have to pay your debts back. In a Chapter 7 bankruptcy you can eliminate unsecured debts. Unsecured debts are debts such as credit card bills, unsecured loans, and medical bills. In a chapter 7 bankruptcy, you can wipe out your debt and start rebuilding your credit immediately.
Chapter 13 bankruptcy
A Chapter 13 bankruptcy, is also known as a reorganization. In a chapter 13 bankruptcy, you reorganize your debts and assets to come up with an affordable payment plan. Individuals who file chapter 13 bankruptcy in Staten Island, are in a repayment plan for 3-5 years. During this time, individuals are able to catch up on paying their bills while interest and fees stop accruing. In some cases, individuals don’t have to pay all of their debts back in a chapter 13 bankruptcy. Any debts that aren’t paid back are discharged.
A Staten Island Bankruptcy Lawyer Will Ensure you Follow the Courts Requirements
Bankruptcy laws and rules can be extremely complicated. If an individual fails to comply with the New York Bankruptcy Courts rules, the bankruptcy case can be dismissed. When a case is dismissed the debts aren’t discharged and you will still be liable for the debt.
Some of the Requirments that a Staten Island bankruptcy lawyer will help you comply with are:
- Completing the bankruptcy Counseling Credit Counseling Course
- Filing the bankruptcy Petition
- Sending all of the documents to the Bankruptcy Court
- Sending all of the required documents to the Trustee
- Paying the costs associated with filing a New York bankruptcy
- Appearing at the 341 meeting/ meeting of creditors
- Ensuring your chapter 13 bankruptcy plan payments are paid on time and to the Trustee
- Obeying all New York bankruptcy court orders.
A Bankruptcy Lawyer Will Ensure Your Property is Safe When You File Bankruptcy
New York bankruptcy exemptions, allow you to file bankruptcy and keep your property. In New York, there are two sets of exemptions that individuals are able to use when they file bankruptcy. Depending on your assets you will need to choose from the Federal bankruptcy exemptions and New York State exemptions. A good Staten Island bankruptcy lawyer will ensure that your property is safe and that your exemptions are being used correctly. Any non-exempt exemptions can be sold to pay your creditors for your passed debts.
A Staten Island Bankruptcy Lawyer Will Ensure that your Tax Refund or any monies owed to you is Handled Properly.
Many individuals who want to file bankruptcy in Staten Island, often do so when they are expectingmoney from their tax refund or are in the middle of a lawsuit where they can collect money. In some instances, this money is not protected. A good bankruptcy lawyer can go over your exemptions to see if any money that you may come into in the future will be protected from the Bankruptcy Trustee.
A Staten Island Bankruptcy Lawyer Will Tell you How to Handle Your Credit Cards and Loans
If you are thinking about filing bankruptcy, chances are you are behind on your bills. A bankruptcy lawyer can explain how to deal with your credit cards and personal loans and how they will be handled in your bankruptcy.
A Staten Island Bankruptcy Lawyer Will Help You Rebuild Your Credit
Many individuals who file bankruptcy, are often worried about how their credit score will be impacted if they file. In some cases individuals may see an increase in their credit score after filing bankruptcy. A good bankruptcy lawyer can go over ways you can improve your credit so that you can be financially independent again.
A Staten Island Bankruptcy lawyer Can Handle Your Repossession
If you are behind on your car payments or are at risk of losing your car and are facing a vehicle repossession, a bankruptcy lawyer will advise you on what options you have.
A Bankruptcy Lawyer Will Examine Your Financial Situation and Give the Best Advice
A good lawyer will be able to review your debts, assets and finances to determine the best way to handle your financial situation. Bankruptcy lawyers can give you other options aside from bankruptcy. Many bankruptcy lawyers negotiate and settle debts for their clients.
Bankruptcy lawyers provide free consultations to clients to ensure that they get the best advice about how to handle their debt properly.
If you have questions about filing bankruptcy in Staten Island or what a Staten Island bankruptcy lawyer can do for you, we would be happy to speak to you. Karra L. Kingston Esq. has helped many individuals who are in debt file bankruptcy and get a fresh start. It is never too late to start over. You can reach Karra L. Kingston Esq. by contacting 973-979-9078 or emailing us at karra@klkbankruptcylawyer.com.