Chapter 7 Bankruptcy Attorney in New Hyde Park
Assisting Clients With Chapter 7 Bankruptcy Matters in New York
Chapter 7 bankruptcy is a legal process allowing individuals and businesses to eliminate debts. It is the most common form of bankruptcy and is often called “liquidation” bankruptcy. The bankruptcy trustee may sell some of your property to pay your creditors. However, most people who file for Chapter 7 bankruptcy do not have any property that is not exempt. At John Lehr, P.C., we can help determine if you qualify for Chapter 7 bankruptcy and guide you through the process.
Call us at (516) 550-5467 or contact us online to schedule a free consultation with our Chapter 7 bankruptcy lawyer in New Hyde Park.
Who Can File for Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is available to individuals, married couples, corporations, and partnerships. However, not everyone is eligible to file for Chapter 7 bankruptcy. You must pass the “means test” to qualify.
You may be eligible for Chapter 7 bankruptcy if:
- Your income is less than the median income for a household of your size in New York.
- Your disposable income is not enough to pay your debts.
- You have not filed for Chapter 7 bankruptcy in the past 8 years.
If you do not qualify for Chapter 7, you may be able to file for Chapter 13 bankruptcy. This is a reorganization bankruptcy that allows you to repay your debts over a 3- to 5-year period.
Understanding Chapter 7 Bankruptcy in New Hyde Park: Local Insights and Resources
Navigating the complexities of Chapter 7 bankruptcy can be particularly challenging for residents of New Hyde Park. With the local economy influenced by nearby communities like Garden City and Mineola, many individuals find themselves facing financial difficulties due to rising living costs and unexpected expenses. Whether it's medical bills, job loss, or overwhelming credit card debt, these issues can lead to the need for bankruptcy relief.
In New Hyde Park, local government resources, such as the Nassau County Department of Consumer Affairs, provide valuable information on financial literacy and debt management. While we do not partner with these entities, they can be a helpful starting point for understanding your options. Additionally, the New York State Unified Court System offers resources for those considering bankruptcy, ensuring you have access to the information you need to make informed decisions.
Many residents may worry about losing their homes or personal property during the bankruptcy process. However, it's important to know that most individuals who file for Chapter 7 bankruptcy in New Hyde Park often qualify for exemptions that protect essential assets. Our team at John Lehr, P.C. understands the unique financial landscape of our community and is here to help you explore your options. We can assist you in determining your eligibility for Chapter 7 bankruptcy and guide you through the process with compassion and understanding.
Call us at (516) 550-5467 or contact us online to schedule a free consultation with our Chapter 7 bankruptcy lawyer in New Hyde Park.
What Property Can I Keep in Chapter 7 Bankruptcy?
Many people who file for Chapter 7 bankruptcy are concerned that they will lose all their property. However, this is not true. You can keep most of your property in Chapter 7 bankruptcy. This is because the bankruptcy code allows you to exempt certain types of property.
In New York, you can exempt the following types of property:
- Your home, up to $179,975 in equity
- Your car, up to $4,425 in equity
- Your clothing, furniture, and appliances
- Your jewelry, up to $1,150 in value
- Your tools of the trade, up to $3,525 in value
- Your public benefits, including Social Security, unemployment benefits, and workers’ compensation
- Your retirement accounts
If you have any nonexempt property, the bankruptcy trustee may sell it to pay your creditors. However, most people who file for Chapter 7 bankruptcy do not have any nonexempt property. If you are concerned about losing your property, you may want to consider filing for Chapter 13 bankruptcy instead. This is a reorganization bankruptcy that allows you to keep your property.
How Our Chapter 7 Bankruptcy Lawyer Can Help
We can help by:
- Comprehensive Legal Guidance: Navigating the complexities of Chapter 7 bankruptcy requires a deep understanding of federal and state laws. We have the knowledge and expertise to guide you through the entire process. From determining your eligibility for Chapter 7 bankruptcy to completing all necessary paperwork and representing you in court, we'll ensure that you understand your rights and obligations at every step.
- Personalized Strategy Development: Every individual or business facing financial difficulties has unique circumstances. That's why we take the time to listen to your concerns, assess your financial situation, and develop a personalized strategy tailored to your unique needs and goals. Whether you're looking to discharge unsecured debts, protect certain assets, or stop creditor harassment, we'll work tirelessly to achieve the best possible outcome for your case.
- Protection from Creditor Harassment: One of the most stressful aspects of dealing with overwhelming debt is constant harassment from creditors. Filing for Chapter 7 bankruptcy can trigger an automatic stay, which legally prohibits creditors from taking further collection actions against you. We will protect you from creditor harassment throughout the bankruptcy process, allowing you to focus on reconstructing your financial future.
- Asset Protection: Contrary to common misconceptions, filing for Chapter 7 bankruptcy doesn't mean losing everything you own. In many cases, individuals and businesses can retain certain assets through exemptions provided by state and federal law. We will carefully analyze your assets and help you take full advantage of available exemptions to protect as much of your property as possible.
- Debt Discharge: The primary goal of Chapter 7 bankruptcy is to acquire a discharge of eligible debts, allowing you to move forward with a clean slate. We will ensure that your bankruptcy petition is accurately prepared and filed, maximizing your chances of a successful debt discharge. Whether you're struggling with credit card debt, medical bills, or other unsecured obligations, we'll work tirelessly to help you achieve financial freedom.
Contact Our Chapter 7 Bankruptcy Lawyer in New Hyde Park Today
At John Lehr PC, we understand the challenges you're facing, and we're committed to providing you with the compassionate support and experienced representation you deserve. Contact our Chapter 7 bankruptcy attorney in New Hyde Park today to schedule a consultation and take the first step toward a brighter financial future.
Our Chapter 7 bankruptcy lawyer can help you obtain debt relief. Call us at (516) 550-5467 or contact us online to get started.
Real Stories From Real People
What Our Clients Say About Working With Us
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"He is a very competent and capable attorney."I retained John Lehr as co-counsel in connection with a Chapter 11 bankruptcy proceeding. He is a very competent and capable attorney.- William Cortellessa
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"I would strongly advise hiring this attorney."I thank God for someone like John. He is an amazing attorney. I had a judgment against me and he gave me a free consultation. He told me exactly what I needed to do. A lot of great advice.- Mike
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"We can only thank him from the bottom of our hearts."I'm advising you if anybody going through a bad situation in bankruptcy please consult him cause we can only thank him from the bottom of our hearts.- Bobby
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"He gave me such peace of mind through my turbulent time."I would call John Lehr at least 5 times a day. He was patient, and very professional in handling my inquiries with ease and clarity. He gave me such peace of mind through my turbulent time. I have referred him to many people because I feel he is such a strong, caring, and professional lawyer.- Mike
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"He exceeded all expectations and met all the deadlines I had requested of him."Mr. Lehr was punctual and professional. He exceeded all expectations and met all the deadlines I had requested of him. He was able to explain the steps that would be taken in a clear and concise manner that was easily understandable. I would hire again.- Eric
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"Not only was he able to defend our financial rights, his calm and empathetic demeanor offered emotional succor to myself and those I care about most."He was extremely professional and promptly responded to all of our concerns. My wife and I are eternally grateful for his service and I hereby recommend Mr. Lehr without reservation.- John
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"I highly recommend giving John a call whether you have an individual bankruptcy case or a complex corporate matter."I consulted with John on a complex matter, and he took the time to review the entire docket, asked very relevant questions to indicate he had a good grasp on the case, and gave me very practical solutions on dealing with the matter.- Neil
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"I would gladly and highly recommend John Lehr every time!"I was very pleased with Attorney John Lehr’s professionalism, courteousy, and how organized and fast he worked on my case.- John