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Ny Bankruptcy Lawyers

Ny Bankruptcy Lawyers

While it might be a bit scary to think about filing for bankruptcy in New York may be a necessary step for you depending on your situation. It is good to know that even if it seems like you have financial ruin in front of you, there are multiple options that you can choose from. The laws on bankruptcy have changed throughout the years, so it is often best for you to find help with NY bankruptcy lawyers that are well-versed in the process.

If you have taken the time to see a New York bankruptcy attorney regarding your finances and you feel that this is the right route to take, there are several things that you need to know:

  1. You have two main bankruptcy options. People will often file a Chapter 7 or Chapter 13 bankruptcy. With a Chapter 7, it is often called liquidation bankruptcy because most unsecured debt is discharged. Chapter 13, or the reorganization bankruptcy, allows you to have a repayment plan so that you can pay back creditors over a set period. There are also other options with a Chapter 11 or Chapter 12 bankruptcy, both of which your NY bankruptcy lawyers can help you with.
  2. This will impact your credit. Even when you work with a NYC bankruptcy attorney, filing for bankruptcy will wipe out your history credit and remain a blemish on your report for several years to come.
  3. There are some debts that you are unable to discharge. The last thing that you want to do is think that filing bankruptcy is going to solve all of the financial issues that you have. You need to know that some debts might not be eligible for inclusion with your filing. Working with a good NY bankruptcy law firm will help you to navigate the process and understand anything that may or may not be included.
  4. Your bankruptcy filing will be public knowledge. There is a lot of paperwork involved in the bankruptcy process, and the state of your finances will be made public. Anyone looking to learn about your financial standing will have the ability to do so.
  5. There are requirements and costs associated with bankruptcy. One of the more common reasons that it is better to work with New York bankruptcy lawyers is that there can be a number of requirements that must be met. Of course, working with a lawyer will also mean that there is a flat fee involved, or you may have to pay an amount that is based on the dollar amount of your debt.

Do you have questions pertaining to New York state law and what it means to file bankruptcy? If so, then it is better to have NY bankruptcy lawyers on your side. Contact the Law Office of William W. Waldner for a free bankruptcy consultation via email at or call the office at (212) 244-2882. You can also fill out our online contact form by visiting, and a member of our firm will get back with you. We are always available to ensure your filing goes as smoothly as possible.

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