Long Island Bankruptcy Attorney

Advantages of Chapter 7 in Nassau & Suffolk Counties

If you or someone you know is facing overwhelming debt, contact a Long Island bankruptcy attorney at Jacoby and Jacoby today. Filing Chapter 7 may be an option which will relieve you of your debt and help you get the fresh start you need.

There are several important advantages of filing Chapter 7 bankruptcy. In fact, Chapter 7 is the most common form of bankruptcy in the United States. An individual or a business may file under Chapter 7 of the U.S. Bankruptcy Code. This process involves the liquidation of assets and the distribution of proceeds from this liquidation to creditors. Following are some of the advantages of Chapter 7:

Stops creditor harassment.
Stops all debt collection efforts.
May stay foreclosure proceedings, giving you time to figure out an alternative to foreclosure.
Successfully completed, discharges all eligible debt.
No maximum limit to the amount of debt that can be discharged.
No minimum amount of debt that can be discharged.
Chapter 7 proceedings take approximately 3 to 6 months to complete, meaning your debt can be discharged in a relatively short amount of time.

Chapter 7 Bankruptcy Lawyer in Long Island

While there are advantages of filing Chapter 7, there are also disadvantages. A Long Island bankruptcy lawyer at Jacoby and Jacoby can review your particular situation and discuss your options with you so you can make a decision regarding whether to file for bankruptcy, and whether Chapter7 is the best option for you.

At Jacoby and Jacoby, our bankruptcy lawyers have over 50 years of experience in this area and have represented clients in over 15,000 bankruptcy cases. We represent debtors (individuals and businesses) throughout all of Long Island, Nassau and Suffolk, New York. We are happy to discuss the particular advantages Chapter 7 bankruptcy has to offer, and how this will affect you now and in the long run.

Contact a Long Island bankruptcy lawyer at Jacoby and Jacoby today for a free consultation.