Our Brooklyn bankruptcy attorneys are some of the most capable around.
Arriving at the decision to file for bankruptcy is a stressful time but our team of bankruptcy attorneys in Brooklyn is here to help ease the process for you. We have decades of experience navigating the courts for both chapter 7 and chapter 13 filings and will help you determine which is in your best interest and how to get the best possible outcome either way. Call us today at 718-687-4325 to find out how we can help.
If, for the size of your family, you exceed the state median income, we will use the means test to help decide if you are eligible to file a chapter 7 (the simplest form of) bankruptcy. The means test takes your monthly income and subtracts allowable expenses, such as income taxes, health or childcare costs, insurance premiums, spousal or child support and union dues, from it. This number is then multiplied by 60 (the equivalent of 5 years). The product of that calculation is used to determine your eligibility for a chapter 7 or chapter 13 bankruptcy.
Many people periodically struggle with paying their debts. While bankruptcy is the best option for some, other people are able to regain their financial footing with loan modification. This is a process of negotiating with your creditors to adjust the terms for the remaining life of the loan. This can mean a change in interest rates, payment amounts or a temporary hold on any payments.
If you are facing the possibility of bankruptcy, you need the advice of attorneys who have experience with all types and situations of filing. Call us today at 718-687-4325 for bankruptcy lawyers in Brooklyn to walk with you through the process.
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