Bankruptcy lawyers offer legal advice and services during a financial crisis. In total, there are six different types of bankruptcy. For persons seeking debt relief, one option is Chapter 7 bankruptcy, which provides for liquidation of the debtor's non-exempt assets. NYC BAP staff and law students also represent debtors in select Chapter 13 bankruptcy cases. The Project also finds pro bono attorneys for self-represented litigants in the bankruptcy courts. To see if NYC BAP can help you with your debt situation, call our hotline at . Legal Aid lawyers can help you with a bankruptcy case, and their use is recommended by the United States Bankruptcy Court if you are not able to pay for representation. Legal Aid is a nonprofit organization offering free legal services to low-income people.
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The most common petition is under Chapter 7 , in which a trustee is appointed by the court. The current assets with many of them exempt from bankruptcy are counted up by the trustee who pays debt with the extent possible with priority for taxes, then secured debts mortgage or some judgments and finally unsecured debts.
Chapter 11 bankruptcy allows a business to refinance and reorganize in order to be able to prevent final insolvency. Chapter 13 bankruptcy: similar to chapter 11 but caters to individuals who can work out payment schedules.
With this court-supervised plan you don't lose all your possessions and your credit score is not as seriously damaged as it is with total bankruptcy. A declaration of bankruptcy will stay in your credit report for 10 years.
During that period, it will be extremely hard or even impossible to borrow money or get credit. Child support, alimony, taxes, fraudulent transactions and most student loans are NOT dischargeable in bankruptcy.
Bankruptcy attorneys will help you file for bankruptcy relief under the bankruptcy code which can solve your financial and debt problems. Some bankruptcy attorneys and law firms also offer a free credit repair kit when the case is finished.
North Carolina. North Dakota. I want to file bankruptcy. My lender continues to send me monthly statements, even after my Chapter 7 bankruptcy was discharged, I believe in April of In Jan , I received a notice of foreclosure.
Im still there but Im very nervous and afraid. I am in need to file bankruptcy. We are drowning and can not afford the several thousands needed to hire an attorney but have court cases against us as early as next week. I tried to fill out the forms alone but I am getting very overwhelmed. I need to declare bankruptcy on medial bills and unsecured debt.
I am a single unemployed mother trying to protect what little I do have to provide for my child. I need to file for chapter 7 bankruptcy. I lost my home in forclosure and cant afford all the debt that comes along with it. Will explain more in detail when you call.
Its alot to explain. Weve been through hell and its hard to explain everything. Weve paid out thousands and now we have no resources or money left. Search for:. Talk to Affordable Lawyers Today. Please check ONLY if you own a small business and your legal issue is related to a business you own. Yes No.