Bankruptcy is, in many aspects, a very complicated process. However, with a bit of self-education and the help of an experienced Rockland County bankruptcy attorney on your side, it does not have to be. Below, we have compiled some of the most frequently asked questions relating to bankruptcy in New York State to give you some guidance through the process. Here are some of the questions you may have:
What information should I bring to my initial consultation with a bankruptcy attorney?
As you may know, bankruptcy is a document-heavy process, which is why it is always best to come prepared for your initial consultation so your attorney can fully asses your financial circumstances. You should bring:
- Letters from collection agencies
- Bills
- Any lawsuits brought against you
- Any pleading you have received
- Your life insurance policy
- Your income tax returns from the past two years
- Titles for your motor vehicles
- Deeds for any and all real estate you own
- Appraisals of your home, jewelry, and other assets
If you are ready to schedule your initial consultation with our Rockland County bankruptcy attorney, feel free to ask him about any other documentation you should bring to your meeting.
Do I have to list all of my creditors when I file for bankruptcy?
The answer to this question is a resounding “yes.” If you fail to list all your debts, as well as the names and addresses of the creditors, you are in direct violation of the law and may face serious legal ramifications as a result.
What forms will I need to file and prepare for Chapter 7 bankruptcy?
Chapter 7 bankruptcy requires you and your bankruptcy attorney to prepare and file your bankruptcy petition, a list of creditors, copies of your pay stubs, a comprehensive list containing all your assets and liabilities, your current income, and an analysis of the means test, among other things.
Will filing for bankruptcy stop a foreclosure on my house?
Yes. Filing for bankruptcy triggers the Automatic Stay, which means you will not be evicted from your house.
Will filing for bankruptcy discharge all my debt?
Most debt is dischargeable, such as credit card debt. That being said, there are certain debts that you may not discharge, including debts for income/property taxes, child support/alimony payments, student loans, or restitution for a criminal sentence/money owed in a past lawsuit.
If you have any additional bankruptcy questions, please do not hesitate to give our knowledgeable Rockland County bankruptcy attorney a call today. We are ready to help you through every step of the process.
Contact our experienced New York firm
Bankruptcy, for many people, is a frightening endeavor. Fortunately, with the help of an experienced attorney, it does not have to be. If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options. We will have your back every step of the way.
