Long Island Bankruptcy Attorneys
Help when the burden of debt is overwhelming
When individuals, families, and even businesses are overwhelmed by bills or threatened with foreclosure, seeking bankruptcy protection may be the best course of action. Bankruptcy laws are intended to give debtors a fresh start by eliminating, reducing, or managing their debts.
The Law Offices of Kyle Norton, P.C. has more than 25 years' experience in helping individuals and businesses who are being hounded by creditors, are unable to pay their mortgages, or owe back income taxes to the government. We handle bankruptcy filings throughout Nassau and Suffolk counties on Long Island.
Our Long Island bankruptcy attorneys understand that each client's circumstances are unique and require solutions tailored to fit their different needs. We can help you resolve your situation and leave the worry behind.
Types of bankruptcy filings
You can receive protection from creditors under Chapter 7, Chapter 11, and Chapter 13 of the U.S. Bankruptcy Laws:
- Chapter 7—Straight bankruptcy. A trustee is appointed to pay off all creditors by liquidating the assets of the debtor and distributing the proceeds to creditors in accordance with set priorities. This type of bankruptcy wipes out almost all debts, with the exception of certain items such as child support and student loans.
- Chapter 11 offers both corporations and sole proprietors the opportunity to reorganize their finances. It is generally used by businesses but can be used by individual debtors who do not qualify for Chapter 13 because their debts exceed the Chapter 13 limit. Long Island Chapter 11 bankruptcy attorneys assist clients in saving a business through reorganization of debt and payment plans.
- Chapter 13—Wage earner bankruptcy. In this type of bankruptcy, wage earners propose a plan to repay creditors in full or in part over several years' time. Debtors filing under Chapter 13 are not required to liquidate all of their assets as in a Chapter 7 filing. The debtor is generally allowed to keep a home with equity and some other assets required to continue earning wages while paying off the debt according to the agreed upon plan.
The Law Offices of Kyle Norton, P.C. has extensive experience with each of these types of bankruptcy filings in Long Island's Nassau and Suffolk counties.
Filing for bankruptcy on Long Island
It is important to get skilled bankruptcy advice before you decide to file. Once you and your bankruptcy attorney have agreed on the best course of action in your situation, there is a set of steps to follow:
- Your bankruptcy attorney prepares and files the documents necessary for the bankruptcy petition.
- Once the court accepts your bankruptcy petition, your creditors receive notice of your filing and when the Meeting of Creditors is scheduled to take place. At this meeting they are allowed to question you about your debt, your assets, and your general financial status. Your Long Island bankruptcy attorney is present to represent and assist you.
- For most people, the Meeting of Creditors is the only in-person appearance required.
- If you are filing for Chapter 13, a confirmation hearing may also be required. At this hearing the judge approves the payment plan you and your Long Island Chapter 13 bankruptcy attorney have worked out.
Save your home. Change your life. Get a fresh start.
For effective, professional advice and assistance when considering filing for bankruptcy and throughout the process, you need an experienced lawyer who is knowledgeable about all of the provisions of the law and who 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.
