Bankruptcy Lawyer in Lloyd Neck, NY

Stop Creditors and Keep Your Home

Get immediate relief from debt collectors and protect your family’s future with experienced bankruptcy representation.

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Chapter 7 and 13 Bankruptcy

What Life Looks Like After Filing

The phone stops ringing. No more collection letters in your mailbox. No more lying awake at 3 AM wondering how you’ll pay next month’s mortgage.

When you file for bankruptcy, the automatic stay kicks in immediately. Creditors must stop all collection activities by law. Your wages can’t be garnished. Your bank accounts can’t be frozen. You get breathing room to figure out your next steps.

Chapter 7 bankruptcy eliminates most unsecured debts in about four months. Credit cards, medical bills, personal loans – gone. Chapter 13 lets you keep your home while paying back what you can afford over three to five years. Both options give you something money can’t buy: peace of mind and a real chance to rebuild.

Lloyd Neck Bankruptcy Attorney

We Know New York Bankruptcy Law

The Frank Law Firm P.C. has been helping Long Island families navigate financial crises for years. We understand that good people sometimes face impossible situations through no fault of their own.

We know the local bankruptcy court procedures, the trustees, and exactly how New York’s exemption laws work to protect your assets. Most importantly, we know that behind every case is a real person who deserves respect and straight answers.

You won’t get judgment here. You’ll get practical legal advice from someone who’s seen it all and knows how to help you move forward.

How to File for Bankruptcy

The Process is Simpler Than You Think

First, we meet for a free consultation to review your debts, income, and assets. We’ll determine whether Chapter 7 or Chapter 13 makes more sense for your situation. No pressure, no sales pitch – just honest assessment of your options.

If you decide to move forward, we handle all the paperwork. 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.

Once we file your petition, the automatic stay takes effect immediately. Within a few months for Chapter 7 or up to five years for Chapter 13, you’ll have your discharge and can start rebuilding your financial life.

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Debt Relief and Foreclosure Defense

Complete Bankruptcy and Debt Relief Services

We handle both Chapter 7 and Chapter 13 bankruptcy cases, plus foreclosure defense when you need more time to explore your options. Our services include all court filings, creditor communications, and representation at hearings.

Many Lloyd Neck residents benefit from Chapter 13 because it allows you to catch up on mortgage payments while eliminating other debts. If your home is worth significantly more than you owe, Chapter 13 often makes more financial sense than Chapter 7.

We also provide foreclosure defense services to buy you time and negotiate with lenders. Sometimes bankruptcy isn’t necessary – we might be able to work out a loan modification or short sale that better serves your interests.

Will I lose my house if I file for bankruptcy in New York?

Not necessarily. New York’s homestead exemption protects up to $170,825 of equity in your primary residence (more in some counties). If you’re current on your mortgage and your equity falls within the exemption limits, you can keep your home in Chapter 7. Chapter 13 is specifically designed to help you catch up on missed mortgage payments while eliminating other debts. Many of our Lloyd Neck clients keep their homes through Chapter 13 repayment plans that make their mortgage payments manageable again.

How long does the bankruptcy process take in New York?

Chapter 7 bankruptcy typically takes four to six months from filing to discharge. You’ll attend one meeting of creditors about a month after filing, then wait for your discharge. Chapter 13 takes longer because you’re paying back debts over three to five years, but you get immediate protection from creditors when we file. The automatic stay stops all collection activities on day one, so you get relief right away even though the full process takes longer to complete.

What debts can be eliminated through bankruptcy?

Most unsecured debts can be discharged, including credit cards, medical bills, personal loans, and old utility bills. However, certain debts survive bankruptcy: recent taxes, student loans (with rare exceptions), child support, alimony, and debts from fraud or criminal activity. Secured debts like mortgages and car loans can be handled through bankruptcy, but you’ll need to keep paying if you want to keep the property. We’ll review your specific debts during your consultation to explain exactly what can be eliminated.

How much does it cost to file bankruptcy with your firm?

Our fees vary depending on whether you file Chapter 7 or Chapter 13 and the complexity of your case. Chapter 7 cases are typically less expensive because they’re completed faster. We offer payment plans because we understand you’re filing bankruptcy for a reason – you don’t have extra money lying around. During your free consultation, we’ll give you an exact quote and explain your payment options. Court filing fees are separate from attorney fees but we’ll explain all costs upfront.

Will bankruptcy ruin my credit score permanently?

Bankruptcy does impact your credit, but it’s not permanent and often not as bad as you think. Chapter 7 stays on your credit report for 10 years, Chapter 13 for seven years. However, many clients see their credit scores start improving within a year because they’ve eliminated debt and can start making payments on time again. If you’re already behind on payments, bankruptcy might actually help your score faster than continuing to struggle with unmanageable debt. We can discuss strategies for rebuilding credit after your discharge.

Can I file bankruptcy if I have a high income?

Yes, but your options may be limited. New York has income limits for Chapter 7 bankruptcy called the “means test.” If your income is above the median for your household size, you might not qualify for Chapter 7 and would need to file Chapter 13 instead. However, the means test looks at your average income over the past six months and allows deductions for necessary expenses. Even high earners can sometimes qualify for Chapter 7 if they have high necessary expenses or their income recently dropped. We’ll calculate this during your consultation.

Local Resources

Lloyd Neck, NY is located in Suffolk County in New York State