Macco Law Group, LLP

Eliminate Your Debt - Free Consultation


Eliminate Your Debt - Free Consultation


What are the benefits of working with a New York bankruptcy lawyer?

There are several benefits to people obtaining legal representation to aid with Chapter 7 or Chapter 13 bankruptcy filings in New York.

In the final quarter of 2016, CNN reports the total household debt in the U.S. reached 12.58 trillion. As people in New York and throughout the country have taken on more debts, some have found themselves facing unexpected financial challenges. In order to get back on track, some may consider debt relief options such as filing for Chapter 7 or Chapter 13 bankruptcy. Although people may take this step on their own, there are several benefits to obtaining assistance from a bankruptcy law attorney.

Familiarity with the laws and procedures

There are numerous complexities involved with filing for Chapter 7 or Chapter 13 relief that filers must meet to qualify for this type of debt assistance and relief. Additionally, there are procedures that must be followed and deadlines that must be met. Unfamiliar with the applicable laws and procedures, those who choose to file for bankruptcy on their own may risk having their cases dismissed on an administrative or procedural technicality. Lawyers who focus their practice on this area, however, may be well-versed in the ins and outs of bankruptcy law. They may draw on this knowledge to guide their clients through the process and ensure they meet all the necessary requirements.

Handling the paperwork

There is a significant amount of paperwork involved with Chapter 7 and Chapter 13 bankruptcy filings. For example, in addition to their petitions, those seeking either type of bankruptcy relief must also submit the following to the court: a statement of their financial affairs, a listing of their current expenses and income, a schedule of their liabilities and assets, a listing of any executory contracts and unexpired leases. In some cases, they may also be asked to provide supporting documentation or further details regarding their creditors; the nature of their claims; or the source, frequency and amount of their income.

Collecting, organizing and submitting all the necessary paperwork may seem a daunting task for the average person. Bankruptcy attorneys may know how to anticipate what the court may ask for, and are often familiar with the best resources and techniques for getting the required documents.

Protection from creditor harassment

The ringing of their phones may be a distressing sound for those struggling financially as they may expect to be met with the voice of a collection agent when they answer. With few exceptions, creditors cannot legally contact people once they are aware that they have legal representation. This may help relieve some of their stressors as they work to regain control of their finances.

For those taking steps to eliminate their debts, working directly with their creditors may seem an intimidating task. In addition to dealing with the collection calls, bankruptcy lawyers typically handle talks with creditors regarding proposed repayment plans or reductions in the amounts owed.

Dealing with overwhelming debt may create stress and uncertainty for New York families. As such, navigating the legal bankruptcy process alone may make an already difficult time even more challenging. Working with a lawyer may help to alleviate some of the anxiety associated with filing for bankruptcy.

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