The Law Office of Charles Zolot
Queens Chapter 7 Bankruptcy Lawyer
If you have been struggling with surmounting debt that has become unmanageable, you may qualify for Chapter 7 bankruptcy protection. Bankruptcy is a federal process in which a debtor declares they are unable to repay what they owe to creditors. There are several chapters of the U.S. Bankruptcy Code that may be filed in New York, but by far, the most popular is Chapter 7. Known as liquidation bankruptcy, Chapter 7 can be filed by both individuals struggling with personal debt and businesses burdened by company-related debt and can wipe out most unsecured debt in as little as three months’ time.
However, filing for bankruptcy protection is not as easy as some might imagine. One small mistake in your documents can lead you to incur an even greater amount of debt than you currently owe. For this reason, anyone considering bankruptcy should seek legal help to protect their assets. If you need assistance with filing a petition in Queens, the Law Office of Charles Zolot is here to help.
Charles Zolot is an experienced Chapter 7 bankruptcy lawyer in Queens, NY who will help reduce or even completely eliminate your debts. Mr. Zolot will analyze your income, assets and liabilities to determine whether you qualify for Chapter 7, and if so, will handle every aspect of your case so you won’t have anything to worry about. With Mr. Zolot as your Chapter 7 lawyer, you can rest assured you will be on your way to financial freedom in no time.
Is Chapter 7 Bankruptcy Right for You?
Chapter 7 bankruptcy protection is the most commonly filed chapter in New York, and for good reason. If you qualify for Chapter 7, most, if not all of your unsecured debts will be eliminated in exchange for the liquidation of your assets, giving you the fresh start you deserve. In order to qualify, you must first meet the requirements. Essentially, there are two basic requirements for eligibility: (1) you must have moderate to low income, and (2) you must have a significant amount of unsecured debt.
Income levels are based on median income figures provided by the Census Bureau, but you may still qualify for Chapter 7 bankruptcy even if you make more than the median income. You can also qualify even if you don’t have an exorbitant amount of debt. Several factors will be taken into account, which is why it is imperative to work with an experienced Chapter 7 attorney throughout your case.
Mr. Zolot will review your qualifications and will help you file the petition itself. If you do qualify, you can expect Chapter 7 bankruptcy to:
- Eliminate unsecured debt, including all credit card debt
- Fast resolution for your case – typically between 3 to 6 months
- Stop lawsuits from being filed against you
- Stop wage garnishments on your salary
- Put an end to creditor harassment
Know Your Rights
Did you know there are certain assets that may be exempt from liquidation? New York Bankruptcy Law allows debtors to keep certain belongings up to certain limits of value, including clothing and furniture. Cars, bank accounts and homesteads are also usually except from liquidation. It’s important for you to know what your rights are when filing for Chapter 7 liquidation bankruptcy so you don’t lose valuables needlessly.
The Law Office of Charles Zolot will let you know what property is exempt and what you can expect throughout proceedings. Mr. Zolot will always be available to answer any of your questions and ease your concerns, will stave off harassing creditors, and will do everything in his power to secure a fast and favorable resolution for your case.
Let Charles Zolot put his expertise to work for you. Contact our Chapter 7 bankruptcy lawyers in Queens, NY today to schedule a no-obligation consultation to discuss your rights and options.