New York Bankruptcy Attorneys
If you’re struggling to pay mounting bills or otherwise burdened by significant debt, you should not feel embarrassed or ashamed to consider bankruptcy. Bankruptcy is your right under federal law and a proactive means for you to confront and overcome your debt situation. Through Chapter 7 or Chapter 13, the Kingston bankruptcy attorneys from Rusk, Wadlin, Heppner & Martuscello, LLP can help you get back on your feet and take the first step toward financial stability in the future.
When Bankruptcy Can Help
Many people think of bankruptcy as a last resort; however, it can be the solution to even the most daunting financial problems, including:
- Possible foreclosure sale of your home
- Vehicle repossession
- Potential loss of your business
- Lost income due to wage garnishment
- Inability to pay monthly bills as they come due
- Harassment from creditors
- Threats of lawsuits from creditors
At Rusk, Wadlin, Heppner & Martuscello, LLP, we help individuals and families find relief from debt by using protections afforded under bankruptcy law, and with offices in Kingston and Marlboro, we’re able to represent clients throughout the Hudson Valley.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy (also known as straight bankruptcy) discharges most unsecured debts, such as credit card debt, repossession deficiencies, and medical bills. In exchange for the elimination of debt, your assets—other than those exempt from bankruptcy—become property of the bankruptcy estate, and are generally sold, i.e. liquidated, to pay your creditors. However, a well-planned bankruptcy can allow you to keep most or all of your property under the bankruptcy exemptions.
Chapter 13 Bankruptcy
With Chapter 13 bankruptcy, you agree to pay your debts over time from your disposable income based on a court-approved repayment plan that works for you. Because you’re working toward paying off your debt, you do not have to give up any of your property. The amount you will have to repay to creditors under the repayment plan depends on your particular circumstances.
Debt Collection & Creditor Harassment
As soon as a petition for bankruptcy is filed, creditors are no longer allowed to send you harassing letters or make debt collection calls that threaten wage garnishment, repossession, foreclosure, or other legal actions. If one of these actions has already been started, the creditor must stop proceeding with the action. For more information about your rights in this area, see our page on debt collection and creditor harassment.
Contact Us to Learn More about New York Bankruptcy Law
Whether your debt stems from sudden job loss, divorce, unexpected medical expenses, or another unfortunate situation, we can help you obtain a fresh financial start. Please contact Rusk, Wadlin, Heppner & Martuscello, LLP to schedule a consultation with our knowledgeable New York bankruptcy attorneys. You owe it to yourself to learn more about your debt relief options.