Feinstein Bankruptcy Law - Queens Bankruptcy Attorney

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General Bankruptcy Information

Queens Bankruptcy Lawyer

Information on Queens Bankruptcy Relief

Dealing with debt can be demoralizing and disrupt your daily life. Maybe you have calls coming in from creditors, or are at risk of losing your assets. Maybe your paychecks are being withheld, or you’re uncertain if filing for bankruptcy is the right choice. Whatever the issues are, contacting a Queens bankruptcy attorney is a smart first step to getting out of debt. Calling a bankruptcy lawyer may seem daunting at first, but realize that you are going down this path with a team of experts who have years of experience with the processes of bankruptcy and debt relief.

The information below will tell you more about the types of services offered by this Queens bankruptcy firm, and what they mean. You can find more information by reading Frequently Asked Questions About Bankruptcy, and don’t hesitate to contact the Law Offices of Bruce Feinstein, Esq. if you have concerns or want to find out if filing for bankruptcy is the right choice. Bankruptcy law is extensive but it was made to help you get out of debt, and a Queens bankruptcy attorney can make the process manageable.

Bankruptcy: An Overview

Bankruptcy is the process of achieving relief from debt. It can be performed by individuals and businesses, and it is often accomplished through discharged debts or a debt restructuring process. There are several types of bankruptcy listed in the Bankruptcy Code, and an individual’s financial situation also determines the bankruptcy process. Learn more about bankruptcy

Chapter 7 Bankruptcy

Chapter 7 is one of several types of bankruptcy. A person’s debt is eliminated or drastically reduced when his or her non-exempt assets are sold by a trustee using a liquidation process. The proceeds from that process are used to pay creditors. In turn, there is a discharge of debt to the individual. Learn more about Chapter 7 Bankruptcy

Chapter 11 Bankruptcy

Chapter 11 is a form of reorganization primarily utilized by businesses, though it is sometimes use by individuals who qualify based on their amount of debt. It is also called “corporate bankruptcy.” This allows businesses to operate and work towards becoming profitable again while undergoing financial restructuring and repaying their debt. Learn more about Chapter 11 Bankruptcy

Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows an individual in debt to maintain ownership of his or her assets while paying creditors over time. A payment plan is created and the individual repays all debts over a period of three to five years. As with all forms of bankruptcy, there are certain requirements and prerequisites to filing for Chapter 13 bankruptcy. Learn more about Chapter 13 Bankruptcy

Means Test

The Means Test is a calculation of an individual’s income and expenses that determines whether he or she can qualify for Chapter 7 or Chapter 13 bankruptcy. People looking to file for bankruptcy must take this test – it is not meant to discourage people from filing, but is a way to keep individuals from abusing the bankruptcy system. Learn more about the Means Test

Repossession

Repossession occurs when a bank or lender takes back secured items that are associated with an unpaid loan. Secured items can be things like cars, home mortgages, or furniture. “Foreclosure” is a kind of repossession, since it is associated with home mortgages. You can stop repossessions by filing for bankruptcy – the courts will issue an “automatic stay” that immediately halts repossessions and other forms of debt collection. Learn more about Repossession

Wage Garnishment

Wage garnishment is another form of debt collection used by creditors. They can receive an order from the court, which mandates that an employer withhold an individual’s earnings until the debt has been repaid. Learn more about Wage Garnishment

Filing Jointly for Bankruptcy

You and your spouse may be considering filing jointly for bankruptcy. This can occurs when couples share debt, or if an individual carries debts for which the spouse may be held liable. The decision the file jointly may depend on certain factors like the type of debt you owe, or the type of bankruptcy you wish to file. Learn more about Filing Jointly for Bankruptcy

Federal and State Bankruptcy Exemptions

Bankruptcy exemptions set up by the U.S and the State of New York protect certain assets from liquidation during a Chapter 7 or Chapter 13 bankruptcy. These exemptions vary by individual case, but may include a person’s home, car, religious articles, belongings, and animals. Learn more about Federal and State Bankruptcy Exemptions

Discharge of Debt

A discharge of debt is granted by the court, and is dependant on the type of bankruptcy that has been filed and the details of the individual’s payment plan. Certain qualifications must be met prior to being granted a discharge of debts. Leanrn more about Discharge of Debt

Bankruptcy Alternatives

Bankruptcy is not the only option available to those in debt. Other solutions like consolidating your bills or debt negotiation may be a safe route to being debt-free. In these cases, the individual and the creditors can agree on a reduced debt balance that both eases the burden on the individual and satisfies the needs of the creditor. There are also several types of Foreclosure Defense that can prevent an individual from losing his or her home.  Learn more about Bankruptcy Alternatives

Foreclosure Defense

Foreclosure Defense is a collection of options available to individuals who are attempting to save their home from foreclosure, which includes: short sale, deed in lieu, and loan modification.  These methods may stall a foreclosure or stop the process depending upon the case. Learn more about Foreclosure Defense

Short Sale

Short sale is a form of Foreclosure Defense. When a property owner can no longer afford to pay a mortgage, he or she can enter an agreement with the lender to sell the property for less than the remaining cost of the mortgage, with the proceeds going to the lender. The owner avoids going through foreclosure and paying the additional fees the foreclosure process entails. Learn more about Short Sale

Deed in Lieu

Deed in lieu is another form of Foreclosure Defense. A person in mortgage debt can turn over their home to the lender, avoiding long and tedious foreclosure proceedings. This is also beneficial because a deed in lieu can hurt a person’s credit less than a foreclosure. Learn more about Deed in Lieu

Loan Modification

A loan modification changes the terms of a mortgage loan in order to make the loan payments more affordable to the homeowner and avoid foreclosure. Smaller payments can be established with the lender, or an agreement may be made to reduce interest rates, principal, or late fees on the remainder of the loan. Learn more about Loan Modification

Creditor Harassment

The Federal Trade Commission enacted the Fair Debt Collection Practices Act (FDCPA) to protect consumers’ rights and prevent creditors and debt collectors from harassing them. If creditors do not abide by these rules, you may be able to file a lawsuit against them or block them from attempting to collect money from you. Learn more about Creditor Harassment

Debt Collection Defense

Even if you are in debt to creditors, they are not allowed to harass or intimidate you. Aggressive tactics and deceptive collection methods are illegal – if you believe creditors are doing this to you, you can take action to make them stop and protect your rights. Learn more about Debt Collection Defense

Tax Debt

Certain tax debts may be eligible for discharge when filing for Chapter 7 or Chapter 13 bankruptcy. Certain factors effect whether tax debt can be included in a bankruptcy filing, such as the due date for filing the tax return and the type of tax owed. Learn more about Tax Debt

Tax Negotiation

If your tax debt cannot be modified through bankruptcy, you may also be able to settle it through tax negotiation with the Internal Revenue Service (IRS). A Queens bankruptcy attorney can work with the IRS to settle your debt for less than you owe or lower penalties. The final settlement can be paid using a payment plan or in a lump sum. Learn more about Tax Negotiation

Rebuilding After Bankruptcy

Filing for bankruptcy is not a death sentence – it is meant to help you pay your debts and move on with your life. After bankruptcy, you can take steps to rebuild your credit and maintain a fiscally responsible lifestyle that is free of the stresses of overwhelming debt. Learn more about Rebuilding After Bankruptcy

Bankruptcy Consultation – Taking the First Step to Financial Recovery

If you are ready to speak one-on-one with a bankruptcy attorney in Queens about resolving your debt, you can contact the Law Offices of Bruce Feinstein, Esq. for a free, confidential consultation. You can expect discretion, exemplary service, and answers to your questions about bankruptcy and debt relief.

Contact Queens bankruptcy attorney Bruce Feinstein, Esq. and start taking back control of your finances and your life today

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We are a debt relief agency. We proudly help people file for bankruptcy
relief under the Bankruptcy Code.

Areas We Serve

The Law Offices of Bankruptcy Attorney Bruce Feinstein, Esq. handles cases from all over New York including: Queens, Manhattan, Brooklyn, Bronx, Nassau County and Suffolk County Long Island

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