Craig D. Robins, ESQ - Experienced Bankruptcy Attorney

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Long Island Chapter 7 Bankruptcy Lawyer

Chapter 7 bankruptcy is designed to help people who are unable to pay their existing debts. This is the most common type of bankruptcy.

With a Chapter 7 filing on Long Island, you can totally eliminate or "discharge" most typical consumer debts including:

• Credit cards
• Personal loans
• Checking account overdrafts
• Certain tax debts
• Medical bills
• Utility bills

When you file a Chapter 7 bankruptcy in New York, you are allowed to keep certain possessions that are "exempt." Exemptions are laws which indicate what assets you can keep and protect.

Some of the more common assets that you can keep are:

• Bank accounts with a total value of up to $2,500
• Automobiles with total equity of up to $2,400
• Household furniture and personal possessions with a value of up to $5,000
• Retirement and pension accounts
• Homes with a total equity of up to $50,000

While there are limitations to these exemptions, most consumers we help are able to keep all of their belongings while reducing or eliminating their debt. We represent many clients who are able to discharge all of their credit card debt in Chapter 7 and keep their home, cars and all of their possessions. If you have non-exempt assets, you may still be able to keep them in a Chapter 7 proceeding by having us negotiate a settlement with the trustee. Unfortunately, not every debt can be discharged.

Debts that cannot be discharged include:

• Most taxes
• Child support, maintenance, alimony, and most matrimonial settlements
• Debts obtained through fraud or false pretenses
• Court-ordered fines and criminal restitution
• Most student loans

An experienced bankruptcy attorney can help you determine what assets are exempt and which debts are not dischargeable.

Contact a Long Island Chapter 7 Bankruptcy Lawyer that, not only fully understands the bankruptcy process, but also can realistically advise you of your options. Schedule your free initial consultation. During this time, our law office can discuss your case and can help you take charge of your financial situation.

Chapter 7 is generally the chapter most people prefer, although access to this Chapter has been slightly limited as a result of the new bankruptcy laws, which became effective in October, 2005. Nevertheless, nearly nine out of ten people who walk through our door qualify for Chapter 7 relief in New York.

Under the new bankruptcy laws, there are number of additional requirements to satisfy in order to be eligible to obtain a discharge of your debts in a Chapter 7 Bankruptcy, including passing a "means test" or income test. If your income is too high to pass the means test, you will be required to pay back at least some of your debt in a Chapter 13 bankruptcy. When you meet with us, we will discuss what is involved with qualifying for the means test.

 

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For over Twenty Years, we have proudly been a Debt Relief Agency under the
United States Bankruptcy Code. We help people file for bankruptcy relief.

Copyright © Craig D. Robins - Craig D. Robins is a Melville, Long Island bankruptcy attorney and lawyer whose New York bankruptcy law firm is dedicated solely to bankruptcy law and debt solutions. We represent clients from towns such as Huntington, Smithtown, Babylon, Islip, Hempstead, Brookhaven, North Hempstead, and Riverhead; and areas including Amityville, Bethpage, Brentwood, Centereach, East Meadow, Hicksville, Holbrook, Levittown, Mineola, Patchogue, Shirley, Westbury, Medford, Coram, Commack, Bayshore, Yaphank, Valley Stream, Bohemia, Wantagh, Roosevelt, Freeport, Deer Park, Floral Park, Franklin Square, Bellmore, Mineola, Elmont, Laurelton, Queens Village, and others on Long Island and Queens. Some of the material herein constitutes attorney advertising.