Bankruptcy Lawyer in Lake Panamoka, NY

Stop the Calls, Save Your Home

Get immediate relief from creditors and protect what matters most with experienced bankruptcy representation.

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Chapter 7 and Chapter 13 Bankruptcy

Your Fresh Start Begins Here

You’re not just filing paperwork. You’re reclaiming your life from the constant stress of overwhelming debt.

When you file for bankruptcy, the automatic stay kicks in immediately. That means creditors must stop calling, wage garnishments end, and foreclosure proceedings halt. You can finally sleep through the night without wondering which bill collector will call next.

Chapter 7 bankruptcy can eliminate most of your unsecured debts in just 3-4 months. Credit cards, medical bills, personal loans – gone. Chapter 13 lets you keep your home while restructuring your debts into a manageable payment plan over 3-5 years.

You’ll walk away with a realistic budget, protected assets, and the knowledge that you took control when it mattered most. Your credit will recover faster than you think, and you’ll have the tools to avoid this situation again.

Lake Panamoka Bankruptcy Law Firm

We Know New York Bankruptcy Law

We at The Frank Law Firm P.C. have been helping Lake Panamoka families navigate financial crises for years. We understand that good people face bad situations – job loss, medical emergencies, divorce, or business failures that spiral beyond anyone’s control.

We’re licensed to practice in New York bankruptcy courts and familiar with local trustees, judges, and procedures. That means your case moves efficiently without unnecessary delays or surprises.

You won’t get shuffled between paralegals or junior associates. When you work with us, you get direct access to experienced bankruptcy representation that treats your situation with the urgency and respect it deserves.

How to File for Bankruptcy

Simple Steps to Debt Relief

Your bankruptcy case starts with a free consultation where we review your debts, income, and assets. We’ll determine whether Chapter 7 or Chapter 13 makes more sense for your situation, or if there are alternatives worth exploring first.

Once you decide to move forward, we handle all the paperwork and filing requirements. You’ll need to provide financial documents and complete a credit counseling course, but we guide you through each step. Most clients are surprised how straightforward the process actually is.

After filing, the automatic stay protects you immediately. We’ll represent you at the meeting of creditors, which is typically a brief, routine proceeding. For Chapter 7 cases, you’re usually done within 3-4 months. Chapter 13 cases involve a payment plan, but you keep your assets while getting back on track.

The goal is always the same: get you the maximum debt relief allowed under law while protecting what you need to rebuild your financial life.

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Foreclosure Defense and Debt Relief

Complete Bankruptcy and Debt Solutions

We handle all aspects of consumer bankruptcy, from emergency foreclosure defense to routine debt elimination cases. If your mortgage company has started foreclosure proceedings, bankruptcy can stop the sale and give you time to catch up on payments or negotiate a modification.

Our debt relief services include Chapter 7 liquidation bankruptcy for those who qualify based on income and expenses. Chapter 13 reorganization works better if you have regular income and want to keep your home while paying down debts over time.

We also provide foreclosure defense for homeowners who need to fight improper lending practices or negotiate with mortgage servicers. Sometimes bankruptcy isn’t the right answer, and we’ll tell you honestly if other debt relief options make more sense for your situation.

Every case includes a thorough review of your debts to ensure we’re eliminating everything possible while protecting your exempt assets under New York law.

How much does it cost to file bankruptcy in Lake Panamoka?

Attorney fees for Chapter 7 bankruptcy typically range from $1,500 to $2,500, plus a $338 court filing fee. Chapter 13 cases cost more due to the complexity and ongoing representation required, usually $3,500 to $4,500 plus a $313 filing fee. We offer payment plans because we understand you’re filing bankruptcy precisely because money is tight. You can often pay attorney fees over time, and in Chapter 13 cases, fees can sometimes be included in your payment plan. We’ll give you exact pricing during your free consultation based on your specific situation.

Will I lose my house if I file for bankruptcy?

Most people keep their homes in bankruptcy. New York’s homestead exemption protects up to $170,825 of equity in your primary residence, and more in some counties. If you’re current on mortgage payments, Chapter 7 typically doesn’t affect your home. If you’re behind on payments, Chapter 13 can stop foreclosure and let you catch up over 3-5 years while keeping the house. The key is acting quickly – once foreclosure proceedings start, your options become more limited. We can review your mortgage situation and equity position to determine the best strategy for protecting your home.

How long does the bankruptcy process take in New York?

Chapter 7 bankruptcy typically takes 3-4 months from filing to discharge. You’ll attend one meeting of creditors about 30 days after filing, then wait for the discharge if no issues arise. Chapter 13 takes longer because you’re in a 3-5 year payment plan, but you get immediate protection from creditors when you file. The automatic stay stops collection activities, foreclosures, and wage garnishments right away. Most clients feel relief within days of filing, even though the legal process takes months to complete. New York bankruptcy courts generally move cases efficiently, especially when you have experienced representation.

What debts cannot be eliminated in bankruptcy?

Certain debts survive bankruptcy, including recent taxes, student loans (in most cases), child support, alimony, and debts from fraud or criminal activity. Recent luxury purchases or cash advances may also be non-dischargeable if made shortly before filing. However, bankruptcy eliminates most common debts like credit cards, medical bills, personal loans, deficiency balances from repossessed cars, and old utility bills. We’ll review your specific debts during consultation to explain exactly what can and cannot be eliminated. Even if some debts survive, eliminating others often makes the remaining payments manageable.

How will bankruptcy affect my credit score and future borrowing?

Bankruptcy will lower your credit score initially, but many clients see improvement within 12-18 months because they’re no longer carrying overwhelming debt loads. Chapter 7 stays on your credit report for 10 years, Chapter 13 for 7 years, but the impact lessens over time. You can often get a car loan within a year and qualify for an FHA mortgage in 2-4 years depending on the chapter filed. The key is rebuilding responsibly after bankruptcy – paying bills on time, keeping credit utilization low, and avoiding new debt problems. Many clients find their credit recovers faster than expected because they have a clean slate and manageable monthly obligations.

Should I file Chapter 7 or Chapter 13 bankruptcy?

Chapter 7 works best if you have limited income and want to eliminate debts quickly without a payment plan. You must pass the means test based on your income compared to New York median income levels. Chapter 13 is better if you make too much for Chapter 7, want to keep non-exempt assets, or need to catch up on mortgage or car payments over time. Chapter 13 also works for people with regular income who can afford a payment plan but need protection from creditors. We’ll analyze your income, expenses, assets, and goals to recommend the best option. Sometimes the choice is clear, other times either chapter could work depending on your priorities.

Local Resources

Lake Panamoka, NY is located in Suffolk County in New York State