Frequently Asked Questions
The Law Offices of Kyle Norton, P.C. focuses on helping clients who are burdened by mortgage and other debt and worried about how to move forward to a better quality of life. We are committed to helping Long Island residents, families, and small businesses reduce or eliminate their money worries and take control of their own financial futures. To help you get started, we supply answers to some of the many questions we frequently hear.
- How can I file for bankruptcy?
- Must I still pay my bills after I file for bankruptcy?
- What are the requirements for a Chapter 13 bankruptcy?
- How long will my bankruptcy appear on my credit report?
- What is involved in estate planning?
- Do I need a will?
- Is it necessary for a lawyer to draft my will?
- What do I need to bring to a lawyer who is working to help me solve my financial problems?
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For effective, professional help with your legal financial issues, you need an experienced lawyer who is knowledgeable about all of the provisions of the law and genuinely wants to help. Request our free newsletter and/or sign up for our seminars using the message field on our contact form. Call our emergency legal hotline at 877-871-6179 or contact the Law Offices of Kyle Norton, P.C. online for a free consultation that could possibly save your home, change your life, and get you on track toward a fresh, new start in Long Island.
Your initial, in-person consultation is free.
How can I file for bankruptcy?
In Nassau and Suffolk counties, you must file a petition with the U.S. Bankruptcy Court in District Court, Eastern District of New York. The petition must be signed under oath under penalties of perjury, and it must list all assets, the value of each asset, and the amount of all debts. We highly recommend you hire an attorney to file the required petitions.
Must I still pay my bills after I file for bankruptcy?
Yes. You must continue to pay your monthly bills, including rent, electric and other utility bills, house and car insurance, and other regular bills.
What are the requirements for a Chapter 13 bankruptcy?
You need a stable income with disposable income—income left over after you pay the bare necessities of life such as shelter, food, and utilities. You must have no more than $1,010,650 in secured debt—debt involving property that your creditor might take if you do not make your payments—and no more than $336,900 in unsecured debt.
How long will my bankruptcy appear on my credit report?
Bankruptcy remains on your credit history and can appear on your credit report for ten years.
What is involved in estate planning?
Estate planning involves accumulating and disposing of your estate, typically to minimize taxes and maximize the transfer of wealth to the beneficiary you want to receive it. Estate planning may involve one or more of these tools: will, trust, power of appointment, power of attorney, healthcare proxy, and living will.
Do I need a will?
A will protects your property and can especially be helpful if you want to distribute your property to people other than your relatives. Without a will, state law dictates the distribution of your property, normally to your relatives.
Is it necessary for a lawyer to draft my will?
It may seem straightforward for you to draft your will yourself, but such personally drafted wills tend to be incomplete and are frequently deemed invalid under state law. A Long Island estate attorney familiar with New York laws can legally draft a will for you that is valid under these laws.
What do I need to bring to a lawyer who is working to help me solve my financial problems?
Bring this documentation with you to the lawyer's office:
- Your tax returns for the last three years
- Statements that show your household income
- Credit card statements
- Collection letters
- Mortgage information
- Deeds to property you own
- Information about child or spousal support you are paying
- Titles or loan documents pertaining to every vehicle you own
