Brooklyn Chapter 7 Bankruptcy Lawyer Helps Clients Discharge Debts.
Chapter 7 is the most common form of bankruptcy filed in the United States. It gives debtors a chance at a fresh start by stopping collection calls and pausing home foreclosure actions. At the Law Office of Gregory M. Messer PLLC, we guide clients from New York, the five boroughs, Long Island, Westchester and Poughkeepsie through the Chapter 7 bankruptcy process. Attorney Gregory Messer will guide you through the state and federal exemptions to give you the opportunity in most cases to keep all of your real and personal property even as you discharge debts. In most cases, attorney Gregory Messer is able to protect all of the debtor’s assets.
Eligibility standards for Chapter 7 relief.
When you consult with Mr. Messer regarding Chapter 7 bankruptcy, he will review your situation and determine if you are eligible for this type of protection. Key factors as to whether you are a good candidate include:
- The means test — Obtaining bankruptcy relief under Chapter 7 is a powerful legal solution. To be eligible, you must qualify under the “means test,” which determines if someone’s income is low enough not to have to repay their debts.
- Previous filings — If you’ve completed a Chapter 7 bankruptcy in the past eight years, you cannot file for this type of relief again.
- Dischargeable debts — Before you file for bankruptcy, you should have a detailed understanding of what types of debts can be discharged and what types cannot. For example, most student loan debt, back taxes and past due child support may remain even after other debts have been canceled.
Some business owners might opt for Chapter 7 bankruptcy to protect their interests as they wind down operations. However, many small and large companies file instead for Chapter 11 bankruptcy, which allows them to remain in business while reorganizing their debt and streamlining their costs.
Benefits of filing for Chapter 7 bankruptcy.
Individuals and families who have no reasonable means of repaying what they owe can benefit substantially from Chapter 7 bankruptcy. Once the process is complete, nonexempt debts, including credit-card balances and payment owed to medical providers, should be eliminated completely. Unlike a Chapter 13 bankruptcy, you can get immediate relief and start restoring your credit without submitting a repayment plan.
The Chapter 7 bankruptcy process.
Once you file for Chapter 7 bankruptcy, a trustee is appointed and an automatic stay is issued. This stay means that all collection efforts against you must be halted until the bankruptcy process is complete. The trustee collects assets that are available to be distributed, if any, and convenes a creditors’ meeting, sometimes called a 341 hearing. Depending on your circumstances, some assets might need to be liquidated, but significant exemptions exist that allow most to keep important personal property like your home and vehicle. Typically, the case is closed within four to six months, and nonexempt debts are discharged immediately and permanently.
The Law Office of Gregory M. Messer PLLC provides personal attention and comprehensive service to anyone filing a Chapter 7 bankruptcy petition. Mr. Messer has the experience you want by your side. He has served on the Chapter 7 Trustee Panel for the Eastern and Southern districts of New York for 30 years. His in-depth understanding of Chapter 7 bankruptcy from every angle is an undeniable asset if you need assistance filling out and filing a bankruptcy petition, preparing for a 341 hearing or dealing with another aspect of the bankruptcy process. Mr. Messer goes to court with you and can tell you about the most recent changes to New York law regarding assets that are exempted from liquidation.
Contact an accomplished New York Chapter 7 bankruptcy lawyer for a free consultation.
Contact the Law Office of Gregory M. Messer PLLC online or call us at to schedule a free initial consultation regarding Chapter 7 bankruptcy. Our office is located across the street from the U.S. District Bankruptcy Court in Brooklyn, near the Borough Hall and Court Street subway stations. We serve residents throughout Brooklyn, Queens, the Bronx, Manhattan, Staten Island and Long Island.
To ensure every client’s filing receives the attention it deserves, we are an appointment-only law firm with flexible hours adjustable to fit your needs. In order to serve our clients best we are currently offering in person consultations, or virtual meetings.