Chapter 7 Legal Representation When You Need It Most

Chapter 7 Bankruptcy Attorney in New Hyde Park

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 attorney 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.

What Is the Chapter 7 Bankruptcy Process?

Chapter 7 bankruptcy is a relatively quick process. Most cases are completed within 4 to 6 months:

The process begins when you file a petition with the bankruptcy court. You must also provide the court with a schedule of your assets and liabilities, a schedule of your current income and expenditures, a statement of your financial affairs, and a schedule of any executory contracts and unexpired leases.
Once you file for Chapter 7 bankruptcy, an automatic stay goes into effect. This is a court order that prohibits your creditors from taking any collection actions against you. This means that they cannot call you, send you letters, or file a lawsuit against you. If a creditor has already filed a lawsuit against you, the case will be put on hold.
The court will appoint a bankruptcy trustee to oversee your case. The trustee will review your bankruptcy petition and schedules and may ask you questions about your assets and liabilities. You must answer these questions under oath. You must also provide the trustee copies of your tax returns and other financial documents.
The trustee will also hold a meeting of your creditors. You must attend this meeting and answer any questions your creditors may have. However, your creditors rarely attend these meetings. The trustee will also ask you questions about your bankruptcy petition and schedules.
After the meeting of creditors, the trustee will determine if you have any non-exempt property that can be sold to pay your creditors. If you do, the trustee will sell the property and distribute the proceeds to your creditors. However, most people who file for Chapter 7 bankruptcy do not have any nonexempt property.
Once the trustee has completed the liquidation process, you will receive a discharge of your debts. This means that you are no longer legally obligated to pay your debts. However, not all debts are dischargeable in Chapter 7 bankruptcy.

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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.

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

"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
"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
"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
"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
"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
"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
"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
"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

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