Bankruptcy is a legal process that can provide enormous benefits. Not only can it offer debt relief, but also peace of mind knowing that you will not be drowning in bills anymore. Filing for bankruptcy, whether as an individual, married couple, or business, can be a highly effective way of regaining financial control of your life, business, or, in some scenarios, both. If you are overwhelmed with debt problems and financial challenges, then consider contacting a Long Island Bankruptcy attorney today to discuss your options.
The process of filing for bankruptcy and the following steps are almost always complicated and confusing for even the biggest finance aficionados. One of the first factors you need to determine is your qualifying debt and income. From there, you must quantify your assets, in addition to countless other factors that you must evaluate. After these considerations, you will need to decide if you should file for bankruptcy, and if so, what type of bankruptcy will benefit you most and the one you will ultimately pursue.
In some instances, a corporation or individual will find that a liquidating bankruptcy is unnecessary during the evaluation process, instead opting to restructure their debts in a reorganizing bankruptcy. In either scenario, it would effectively wipe out qualifying debts. Under a bankruptcy plan of reorganization, a business or individual is able to continue to operate and retain their property and assets. Alternatively, a person may find that they need to liquidate, walking away from their assets in exchange for a fresh start from their debts.
Do you have debts? Are you worried about losing your current assets? Do you feel that there is no way out of your current financial situation? If you feel stressed about your money problems, you may benefit from debt relief provided by bankruptcy. To ascertain the next step in your financial future, it is crucial to consult with a well-qualified and experienced Long Island bankruptcy attorney. Your attorney will look at your situation, identify all potential legal options, and help you start the bankruptcy process.
A well-versed and seasoned bankruptcy lawyer will help you preemptively address all of your financial and legal issues, taking precautionary measures to prevent mishaps from arising and taking necessary action for potential conflicts that may occur after filing. In some cases, some people may benefit from debt management or financial counseling and not have to file for bankruptcy. In other cases, debt negotiation, spearheaded by a knowledgeable lawyer, can help remedy financial problems. Still, in other cases, people will benefit most from adversary proceedings provided under U.S. bankruptcy law.
There are hundreds of factors that you must consider throughout the bankruptcy process. A dedicated Long Island bankruptcy lawyer can lead you through this challenging legal process toward financial recovery.
Continue reading to learn more about the general concept of bankruptcy, the most common bankruptcy filing options, and who these options typically best suit. Contact the attorneys at the Macco Law Firm for a free initial consultation about your financial situation. During your initial consultation, we will discuss your case and develop a clear understanding of your wants, needs, and goals. The sooner you reach out to Macco & Corey P.C., the sooner we can get you on the road to a secure financial future.
Title 11 of the United States Code codifies bankruptcy law in the United States. Title 11 also details the types of bankruptcy options available, including a Chapter 7, Chapter 11, or Chapter 13 bankruptcy. Chapter 7 and Chapter 13 are filed by individuals or married couples. The choice between filing for Chapter 7 or Chapter 13 bankruptcy will be contingent on the debtor’s assets, liabilities, and ultimate goals for bankruptcy relief. Chapter 11, on the other hand, is typically reserved for businesses and a limited number of individuals who fail to meet the requirements of Chapter 13. To learn more about the most common types of bankruptcy, continue reading below.
The Macco & Corey P.C. is a bankruptcy law firm with more than six decades of experience providing top care to clients in Long Island, New York. Not only have we filed thousands of successful Chapter 7 and Chapter 13 bankruptcy petitions, but our partners are also court-appointed bankruptcy trustees who know your full range of legal options for dealing with your financial problems.
Attorney Michael Macco is one of only two Chapter 13 bankruptcy trustees on Long Island in the Eastern District of New York. Mr. Macco has held this position since 1983. Macco & Corey P.C. has served our community with integrity for over 30 years. Contact our law office today to learn more about how our law office can help your case!
Macco & Corey P.C. boasts over seven decades of combined experience in bankruptcy law. This extensive tenure underscores the firm’s deep-rooted expertise and reliability in handling complex financial and legal challenges. Our longstanding presence in the legal community highlights our commitment to providing consistent and effective services to our clients.
Our firm has filed thousands of Chapter 7 and Chapter 13 bankruptcy petitions successfully. Between our private practice and service as trustees, the partners at Macco & Corey P.C. estimate we have been involved in over 100,000 bankruptcy cases. This extensive involvement provides a rich foundation of practical experience and situational awareness that is invaluable in handling new cases.
Both partners at Macco & Corey P.C. serve as court-appointed bankruptcy trustees, a role that involves overseeing and administering bankruptcy cases. Michael Macco is one of only two Chapter 13 bankruptcy trustees in the Eastern District of New York, a role he has held since 1983. The insight we gain from this bolsters our ability to offer well-rounded and informed legal advice and representation.
Valuable Client Guidance: Backed by decades of combined experience, our bankruptcy attorneys can provide astute legal guidance personalized to each client's unique financial situation, helping them make more effective decisions about their financial future.
Robust Problem-Solving Capabilities: Our vast experience in handling diverse bankruptcy cases has honed our problem-solving capabilities. We can anticipate and address potential issues proactively, providing innovative solutions that protect clients' interests.
Macco & Corey P.C. has served our community with integrity for over 30 years. Contact our law office today to learn more about how our law office can help your case!
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Read MoreFiling for bankruptcy is a complicated, challenging, and stressful process. Consulting with the experienced team at Macco & Corey P.C. will allow you to remain calm and focused as you secure your financial future. Contact us for your free consultation today!
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