Nobody wants to imagine the day where they have to file for bankruptcy, however, if bills are piling up, you may find yourself in an overwhelming situation, and you may be considering your legal options going forward. Please continue reading and speak with our New York bankruptcy attorney to learn more about whether your situation qualifies for bankruptcy and how our firm can assist you through every step of the legal process ahead. Here are some of the questions you may have:
What should I do if I begin receiving foreclosure or eviction notices?
As soon as you begin receiving notices from your mortgage lender, bank, or any other financial entity claiming that you owe them money, you should begin reviewing your financial situation either with an accountant, a knowledgeable bankruptcy attorney, or both. Even if you have not yet begun receiving these notices, yet you believe you are having some financial difficulties, you should begin reviewing your credit report, carefully study your debt/income ratio, and never ignore a lawsuit, foreclosure, or collection action, as doing so can result in very serious legal ramifications. Similarly, you should always open every letter you receive in the mail and hang on to these letters so that you can use them to document exactly who is collecting against you and for how much.
How do I know if I am ready to file for bankruptcy in New York?
There are several warning signs that indicate that you are, in fact, ready to file for bankruptcy. For example, if your personal wages are currently being garnished or your bank account has been frozen, you should absolutely consider filing. Additionally, if you have enough debt that it would be physically impossible to pay off on your own, you should also consider filing for bankruptcy. Finally, if you or your company has been notified that creditors have obtained judgments against you, you should consider filing. The bottom line is that if you are currently in financial turmoil, the most important thing for you to do is to speak with a knowledgeable Rockland County bankruptcy attorney who can assess the entirety of your situation and come up with a strategy to assist you through every step of the legal process ahead.
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.