Do not be confused or misinformed about your rights to file bankruptcy. It has been a protected right of yours for over 200 years. You are not denied any of your Federal or state rights by seeking bankruptcy relief. You will be a better employee, parent, manager if you do not have the financial concerns constantly distracting you from what you need to do in your life.

• 1. I won’t be able to buy a house for ten years..
  • a. Although chapter 7 bankruptcy is on your credit report for a period of ten years you will be able to buy a house again because of the positive change on your credit report
• 2. I won’t be able to buy a car for ten years.
  • a. Although chapter 7 bankruptcy is on your credit report for a period of ten years you will be able to buy a house again because of the positive change on your credit report
• 3. I won’t get a credit card or a good credit score for ten years.
• 4. I won’t be able to get a student loan for myself or my children.
  • a. Student loans back by the government must be repaid therefore there is little concerns that student loans will not be paid back. Any private student loan may be denied based on your credit score, however most student loans today are government backed.
• 5. My boss will fire me
  • a. Although bankruptcy is a public record, Employer or prosepective employers are not allowed to fire you based on your decision to file bankruptcy. If a perspective employer pulls your credit report and asks you about bankruptcy, most employers are relieved to know that you no longer have any financial issues which may affect your work vs a credit report that shows 90 days late, judgment, collections and/or concerns of creditors calling your place of employment.
  • b. Your employers are not notified of your filing
• 6. I don’t qualify for chapter 7 bankruptcy because I own a house
  • a. You can still qualify for a chapter 7 bankruptcy even if you own a house. Many states, including New York and New Jersey allow a homeowner a certain amount of equity in their residence. In the State of New York a single filer can have $50,000 worth of equity in their residential property and joint filers (husband and wife) can have $100,000 worth of equity in their property.
• 7. I will lose my car if I file bankruptcy.
  • a. If you have a financed car and can afford the payments the bankruptcy court will not take your car. You can still qualify for a chapter 7 bankruptcy even if you own a house. Many states, including New York and New Jersey allow a homeowner a certain amount of equity in their residence. In the State of New York a single filer can have $50,000 worth of equity in their residential property and joint filers (husband and wife) can have $100,000 worth of equity in their property.
• 8. I am not a citizen therefore I can’t file
  • a. You qualfiy to file bankruptcy even if you are not a United States citizen. If you have valid legal work visa, security card and file your required taxes, you can file for Chapter 7 or Chapter 13 Bankruptcy protection.
• 9. Bankrupuptcy can’t help me because I only have tax debt.
  • a. In a Chapter 13 we can reduce your monthly IRS payment and allow for payments without interest. Call us for an appointment and we will explain how.
• 10. My Creditors say they will still sue me.
  • a. Once your bankruptcy is filed you are protected by the court which denies creditors the right to proceed with any further litigation or attempts at collecting a debt. If you have secured property or purchase money security interest inproperty the creditors may ask for the property back if you do not continue to make payments.
  • b.Adversary Proceedings. If a creditor can prove that you intentionally commited fraud a creditor may try to sue you in bankruptcy court. Particular facts must be relevant before an adversary proceeding commences such as luxurious purchases 90 days before the filing of your bankruptcy petition. If you believe this may apply to you mention this at your free consultation meeting…We will represent you at Adversary Proceedings.