At Genova & Malin, Attorneys at Law, we focus on helping individuals to return to prosperity through the filing of personal bankruptcy under Chapters 7 or 13 of the Bankruptcy Code. Chapter 7 or Chapter 13 may be appropriate for individuals who own small businesses that are in trouble, as well as for consumers who are inundated with debt. We also help businesses get protection from creditors by filing for a reorganization under Chapter 11 of the Bankruptcy Code. The following are brief explanations of Chapter 7, Chapter 11, and Chapter 13 Bankruptcy filings.
Chapter 7 -- Personal Bankruptcy Debt Liquidation
Chapter 7 is a form of debt relief by which you may eliminate most forms of unsecured debt, such as credit cards, medical bills, and personal loans. In many cases, you can keep your home, car and other personal belongings. We may be able to use Chapter 7 to accomplish the following:
- Stop Harassing Calls from Creditors
- Stop Garnishments on Wages
- Eliminate Repossession of Assets
- Lower Your Auto Payments
Filing Chapter 7 is a way for you to begin reestablishing your credit by reducing your debt-to-income ratio. With little or no remaining debt, lenders may feel that you will be better able to repay you debts in the future. Please read more about Chapter 7.
Chapter 13 -- Personal Bankruptcy Reorganization
Chapter 13 is a debt repayment plan through which you consolidate your debts over a three-to-five year period. Your creditors cannot collect from you during the term of the plan. Debts that are generally consolidated in a Chapter 13 are mortgage arrears, balances on vehicle loans, student loans, credit card debts, and other unsecured debts. Some of the things that can be done through filing under Chapter 13 include:
- Halting a Foreclosure on your House
- Consolidating Student Loans
- Saving your Car or other Vehicle
- Protecting Cosigners
Call us now if you have equity in a home or car that could be lost to you unless you take appropriate legal action now. Please read more about Chapter 13.
Chapter 11 -- Business Debt Reorganization Bankruptcy
It can be to the advantage to debtors and creditors alike to let a troubled business reorganize its debts under the protection of a bankruptcy court. With breathing space, and a reasonable amount of time, debts can be repaid.
Reorganization provides debtors with a greater opportunity to retain their assets if they agree to pay off their debts according to a plan approved by the bankruptcy court. If the debtor fails to adhere to the plan, however, the court may still order liquidation. Please read more on Chapter 11.
If you are looking for experienced bankruptcy lawyers who will listen to you and help you consider all your options, including various alternatives to bankruptcy, please do not hesitate to contact us to arrange for a complimentary bankruptcy evaluation.
(845) 298-1600
Genova & Malin, Attorneys at Law
Bankruptcy Attorneys Serving New York Consumers and Businesses
In Financial Distress with Filings under
Chapters 7, Chapter 11, and Chapter 13, of
The Federal Bankruptcy Code
With Offices in Wappingers Falls, New York, Serving
Putnam, Orange, Ulster, Dutchess, Goshen, and Westchester Counties,
And Communities from White Plains to Albany, including
Poughkeepsie, Middletown, Newburgh, and Kingston
