New York Bankruptcy Attorney

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Dealing with financial woes is never easy, and
more often than not, we have to make some serious
tough decisions. Most people dont have detailed
views of bankruptcy laws, and understanding the
complicacies can be overwhelming. If you are in
New York, the first thing to do in a tough debt
situation is to seek legal assistance.
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The question is whether you should file for
bankruptcy in the first place. Every kind of
financial situation is unique, and you will have
to start by finding a genuine New York
bankruptcy attorney. Depending on the facts of
the case, he will offer a clear view of all the
aspects.
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Typically, most people consider bankruptcy under
circumstances. If you are being harassed for
overdue payments, facing foreclosure on your home
or any property, dealing with car repossession
or have been sued, you may consider filing for
bankruptcy.
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Most people are concerned about the debts that
can be discharged after filing for bankruptcy.
Now the state laws can vary, but in New York, you
can expect to get discharged from credit card
bills, personal loans and medical bills under
Chapter 7 bankruptcy.
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Your lawyer will typically tell you about both
Chapter 7 bankruptcy and Chapter 13 bankruptcy.
Under Chapter 7 bankruptcy, you will get rid of
the unsecured debts and can start afresh with
your finances. On the other hand, Chapter 13
bankruptcy is meant for people who have
significant assets, and they will have to develop
a special payment plan, which will help in
dealing with the debt payments.
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The entire bankruptcy process can be really
complicated, especially when you are new to the
concept. Keep in mind that all the proper
procedures and steps must be adhered to, so that
all kinds of debts, especially the unsecured ones
can be disposed. While it isnt compulsory to
hire a lawyer, it is always a good idea to seek
legal assistance. This will only save time and
ensure that you havent missed any aspect.
Creditors can get nasty at times, and it is a
good idea to move in a planned and phased manner
as needed and required by the law.  
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