3 Reasons Why You Need To Talk To Me Now About Bankruptcy


Many people put off meeting with a New York bankruptcy attorney until matters are very serious. Some people wait until they receive foreclosure papers or their vehicle is repossessed to call a Manhattan bankruptcy attorney. Whether it is out of fear of the unknown or embarrassment that they need financial help, it is never wise to wait until things become very bad to consult with a bankruptcy lawyer. Below are three reasons why you need to call my office now to discuss your debt problems.


Bankruptcy Can Save Your Home


If you have received foreclosure papers, all is not lost. Filing a Chapter 13 bankruptcy petition can stop the foreclosure before you home is sold. You and your family can stay in your home by resuming your mortgage payments and repaying the past due payments through a bankruptcy plan. In addition to saving your home, filing a Chapter 13 case can get rid of unsecured debt, including medical bills, credit card debt, and personal loans. By getting rid of debt, you are clearing the way for a better and stronger financial foundation when you finish your Chapter 13 plan.


Bankruptcy Can Prevent Wage Garnishments and Collection Lawsuits


If you are facing a wage garnishment or you have been served with a collection lawsuit, filing bankruptcy can stop the creditor in its tracks. Depending on the type of debt, filing bankruptcy may discharge the debt completely in a Chapter 7 case. If you don’t qualify for a Chapter 7 bankruptcy or the debt is not dischargeable in bankruptcy (i.e. tax debt), you can file a Chapter 13 case to spread out the payments to make the debt affordable while preventing the wage garnishment or judgment. Even though it is not too late to file a bankruptcy if the wage garnishment has begun or a judgment has been entered against you, it is better to stop these collection efforts before they get that far.


Bankruptcy Can Improve Your Credit Score


Yes, filing a bankruptcy case can actually help to improve your credit score within one to two years after filing. Creditors would like you to believe that filing bankruptcy will ruin your credit rating forever. That bankruptcy myth is simply not true. While filing bankruptcy will cause a temporary drop in your credit score, the drop is not permanent. You can begin repairing your credit score by paying your bills that are not included in the bankruptcy on time. A bankruptcy case does not look great on your credit report — I’ll be honest. However, ignoring your debt problem looks worse. Creditors continue to report late payments and other negative information until the debt is paid. Filing a bankruptcy case stops the negative reporting so you can begin the process of rebuilding your credit score.


Free Yourself from Debt and Start Recovering from A Financial Crisis


Another reason to contact me right now is to stop the stress and worry about our debt problems. A financial crisis can cause an overwhelming amount of stress and anxiety. If creditors are harassing you for payment, the stress level becomes worse. As you continue to try to function under stress, you may begin to experience physical problems in addition to financial problems. Stress from debt problems can cause sleep problems, depression, eating problems, and high blood pressure. You don’t have to continue under this level of stress. You can do something positive to stop the stress.


Call my office to schedule a free consultation to discuss how we can help you find a way to get out of debt. Call (212) 244-2882 or use our online contact form.


My goal is to help you find an affordable and effective solution to your financial problems. The solution may be filing a bankruptcy petition, but that is not all we discuss. We discuss all options, non-bankruptcy and bankruptcy, and the pros and cons of each option. I want you to have all the information you need to make the best decision for you, your family, and your future.