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Can I keep my house and car

if I file for bankruptcy?

If you file for Chapter 13 reorganization, and your plan is approved by the bankruptcy court, you can keep your house and car. You might reaffirm them in Chapter 7.

Can I keep my cell phone

in a Chapter 7?

Yes, you can, and if you're like nearly everybody else, you'll want to keep your cell phone and plan.

Can I open a new bank account after being discharged in bankruptcy? 

If you file for Chapter 13 reorganization, and your plan is approved by the bankruptcy court, you can keep your house and car. You might reaffirm them in Chapter 7.

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How can I file for bankruptcy

if I don't have any money?

You can use a tax refund or stop paying other bills that you'll be including in your bankruptcy anyway. Some lawyers even work on payment plans.

Does bankruptcy

clear all debt?

A Chapter 7 won't clear all debts if you reaffirm certain obligations like your mortgage. A Chapter 13 won't clear all of them either. It's a reorganization of debt.

How much debt do you need to have

to file for Chapter 7 bankruptcy

There is no minimum debt limit to file for Chapter 7 bankruptcy. There are maximum limits though that nearly all debtors need not worry about.

Are debtors allowed expenses

in a Chapter 7 case?

Yes, because Chapter 7 debtors must pass a means test. Bankruptcy courts consider expenses like taxes, mortgage payments, payments for secure debts and child care. Check with your White Plains lawyer.

How do I prepare for a

bankruptcy consultation?

Bring a carefully prepared list of all of your assets and both secured and unsecured debts to your initial consultation. Include household expenses and any child support obligations.

Do you need an attorney

to file for bankruptcy?

No, but you'll probably need to keep coming back to court to cure your mistakes. An experienced White Plains bankruptcy lawyer like Harry C. Kaufman does this every day. Hire a lawyer.

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When should you

consider bankruptcy?

Consulting with a White Plains bankruptcy lawyer can be a tremendous help especially when you are overwhelmed with debt and calls from debt collectors.

Will my furniture be taken

in a Chapter 7 proceeding?

Most debtors are able to keep their furniture and household possessions. Your White Plains attorney is in the best position to advise you on this.

What shouldn't I do

before I file for bankruptcy?

Ask the attorney if the time is right for you to file for bankruptcy. Don't sell assets below their actual cash value. Don't increase your credit card debt or decrease a retirement account.

What should I look for

in a bankruptcy lawyer?

Develop an opinion on the lawyer's professionality and whether his or her office is run in a friendly and efficient manner. Ask about any alternatives to bankruptcy like consumer credit counseling.

What happens to your bank acnt

when you file for bankruptcy?

In a Chapter 7 bankruptcy, you can keep your checking account but not your savings account. Funds from a checking account would be used to pay creditors or the bank itself.

What does it cost

to file for bankruptcy?

Court costs in 2021 for a Chapter 7 bankruptcy are $335 and $235 for a Chapter 13. Additional costs total less than $100. Legal fees vary from $1,700 to $5,000.

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What do you lose

when you file for bankruptcy?

Certain items like work tools are exempt from bankruptcy. Each state has its own particular exemptions. Ask your White Plains NY bankruptcy lawyer about what personal property is exempt in your state.

What debts can't be

discharged in bankruptcy?

Alimony, child support and tax liens and judgments against you for intentional acts aren't dischargeable in bankruptcy.

Should I max out my credit cards

before filing for bankruptcy?

Don't use your credit cards to buy things with no intention of paying for them. There are laws forbidding that. You could be prosecuted, convicted and go to jail.

Should I close my bank account

before filing for bankruptcy?

Probably not, unless you owe money to your bank. If you do close your account, you'll want to have another one opened already elsewhere.

Is it better to file for

Chapter 7 or Chapter 13?

Chapter 7 may be preferable because it is faster and be finished within months rather than Chapter 13 which can take years.

Is it better to

file for bankruptcy?

Most debtors file pursuant to Chapter 7. It's faster and less expensive than Chapter 13, and debtors are usually able to keep most of their personal property.

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The decision to file bankruptcy isn’t one that should be taken lightly. But for many individuals, Chapter 7 bankruptcy is a lifeline: the only way to get your life back. It’s the best way to put an end to harassing creditors, wipe out crushing debt and start again debt free.


If any of the following describes you, I can help:

 

  • Financial Worries
  • Making minimum payments on credit cards
  • Losing sleep or lacking concentration due to financial stress
  • Money worries affecting family and personal life
  • Not knowing the exact extent of your debt, or using cash advances to pay off credit cards
  • Receiving harassing communication from creditors on a regular basis
  • Thinking about your debt constantly
  • Financial difficulty has simply become too difficult to handle alone

 

I can help, because I have been there. I know what it’s like to slowly lose control of my finances due to external circumstances. Relief is possible, and I am committed to helping my clients achieve it.


I also handle family law cases for those in the following situations. If you are experiencing any of these feelings or fears, contact me for a free initial meeting.


Benefits


You might want to consider filing under Chapter 7 if you are experiencing any of the following:

 

  • Difficulty making payments on medical bills, credit card debt or personal loans.
  • Garnishments or lawsuits.
  • Anxiety and stress due to unmanageable debt.

 

The law is in place to help people in these difficult situations. In fact, the idea of forgiveness of debt has its roots in the Bible: At the end of every seven years you shall grant a release of debts. Deuteronomy 15:1.


I bring up the Bible not only to show how old the concept of bankruptcy is, but to stress that filing bankruptcy is not immoral and good people can find themselves in these situations. I don’t make moral judgments and neither does the system. I want my clients to hold their heads up.


So, if you’re sure you can’t repay your debts without help, it’s best to file sooner rather than later. You’ll be able to finish the process quickly, usually within four months, and start rebuilding your credit. I’ve helped most clients retain their property, including houses and cars. The first step is making the call. I can stop collection activity immediately, so you and your family can relax.


Next Steps


I offer a complimentary initial meeting to assess your needs and plan next steps. I will guide you every step of the way while we prepare your paperwork.


As soon as the case is filed, the court will issue an injunction that stops all collections activity. This includes phone calls, emails and all other attempts to make contact. This will give you peace of mind and a breather that you will feel right away. Your wages can no longer be garnished and your home cannot be foreclosed on.


About a month later, you’ll be scheduled for a meeting during which the bankruptcy trustee and your creditors will have the opportunity to ask you questions. This is where my expertise comes in handy. I will be with you at the meeting and will make sure that you are fully prepared for whatever might happen. Check out my “About Me” section to see why I take such a close interest in your case. I’ve been there, and my passion is helping my clients achieve the best result possible.


Contact my office today to get the process started, and stop the stress.

Do you need an aggressive Bankruptcy Attorney

who is going to fight for your interest?

To speak with a Bankruptcy Attorney, give Attorney Harry Kaufman a call at (917) 985-6294

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