Rights in bankruptcy

New York City bankruptcy court lawyer

Are creditors calling you at all times of the day and night? Is your mailbox filled with harassing letters and demands? Filing bankruptcy can stop these practices and get you the debt relief you need. Since 1996, the Law Office of David I. Pankin, P.C., has been helping people like you in the Brooklyn, New York, area with their financial difficulties. Contact our office by phone at 866-372-0591 to arrange for your free initial consultation. We represent clients from Brooklyn, Manhattan, Bronx, Queens, Staten Island, Suffolk County, Nassau County, and other areas of New York.

Brooklyn bankruptcy court attorney

The following are some of the rights you are entitled to when you file a Chapter 7 or Chapter 13 bankruptcy in Brooklyn, Manhattan or Long Island:

• Once you have filed for bankruptcy, the court will grant you an automatic stay. This is an injunction that prohibits creditors from contacting or taking action against you.
• Filing for bankruptcy can stop creditors from garnishing your wages and freezing your bank account. You can claim up to $2,500 in your bank account as exempt.
• Under Chapter 7 bankruptcy, you can keep exempt assets. If you file for Chapter 13, you can potentially keep your assets upon completion of the court-approved payment plan.
• If you file for Chapter 7, you can keep up to $50,000 ($100,000 for spouses filing jointly) worth of equity in a home. If you maintain equity in a home in excess of the exemption limit, you are probably a better candidate for a Chapter 13 bankruptcy. Under Chapter 13, you can keep your home upon approval and completion of the court-approved payment plan.
• Once you have filed bankruptcy, foreclosure proceedings and repossession of your property by a lender are stayed by the bankruptcy court.

Filing bankruptcy will not protect you from non-exempt items such as student loans and child support obligations.

Dedicated to protecting YOUR rights

At the Law Office of David I. Pankin, P.C., we understand the various nuances involved with filing bankruptcy and what your rights as a debtor are. We are dedicated to protecting those rights and making sure your financial future is secure. Contact our office by phone at 866-372-0591 to arrange for your FREE initial consultation.