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Chapter 7 Bankruptcy in Central New York and the North Country

Chapter 7 Bankruptcy

Chapter 7 bankruptcy, is what most people think of when they think about bankruptcy: You wipe away your unsecured debt like credit cards, medical bills, personal loans, and some taxes. For any secured debt (house, cars, ATVs, etc.), you can continue to pay those loans and keep the property, or you can surrender the property and wipe away that debt. Chapter 7 will protect you from repossessions, lawsuits, wage garnishment, and other collection tactics creditors use. There are certain debts, such as child support, alimony, student loans, and some taxes, that cannot be discharged in a Chapter 7 bankruptcy.

At Grady BK, PLLC, we recognize that you feel anxious about the bankruptcy process—you are not alone. I’m committed to providing you with compassionate and effective legal guidance at every step of the process to help you move towards a brighter future.

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Chapter 7 Bankruptcy in New York

Before filing for bankruptcy, we’ll assess your specific situation and determine whether Chapter 7 is right for you. We’ll make sure your assets are protected and that a bankruptcy will achieve your goals. Once we file for Chapter 7 bankruptcy, you are immediately protected—creditors can’t call you, write to you, or sue you. The filing will also stop current lawsuits and garnishments. About a month after the bankruptcy is filed, you will attend a court hearing with a bankruptcy trustee (it literally lasts 3-5 minutes—no trick questions—and I’m there with you). While it’s natural to feel concerned about this meeting, I’ll make sure you are prepared so you feel comfortable and confident.

After you file bankruptcy, we will help you take the next step in rebuilding your credit. While there is no “quick fix,” there are things you can do to immediately start rebuilding your credit. We will provide you with all the necessary tips and strategies you can take to ensure that your financial future is as bright as it can be.

How Chapter 7 Bankruptcy Impacts Your Assets

When you file Chapter 7 bankruptcy, you list everything you own (house, car, clothes, bank accounts, retirement accounts, etc.) and the law gives you certain exemptions to protect that property. Most people can protect everything they have with the exemptions. If your situation is different, we will give you options to ensure you can keep everything you want to keep. If you’re struggling with ballooning credit card debt or substantial medical bills, reach out to Grady BK, PLLC to determine the most strategic path forward.

Keeping Your Future Bright

Most Chapter 7 Bankruptcy proceedings take between three to four months from start to finish. Once your debts are discharged, you can walk away from these debt obligations and start fresh. While many people initially view bankruptcy as an intimidating or even shameful process, they end up feeling empowered. You get to take back control of your financial life. Make today the day you take back control and finally live the life you always think about. Reach out to Grady BK, PLLC today to get started with a trusted and compassionate bankruptcy lawyer.

Get Your Free Phone Consultation

Call Grady BK, PLLC today at (315) 299-9005 to talk to a compassionate attorney about whether filing for Chapter 7 bankruptcy is right for you.