Bankruptcy Lawyer in Murray Hill, NY

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Chapter 7 Bankruptcy Attorney Murray Hill

What Life Looks Like After Filing

The phone stops ringing. Your wages stay in your paycheck. You sleep through the night without wondering which bill collector will call tomorrow.

That’s what happens when you file for bankruptcy protection. The automatic stay kicks in immediately, stopping all collection activities, wage garnishments, and foreclosure proceedings. Your creditors have to back off while you work through the legal process.

Within months, not years, you can eliminate most of your unsecured debt completely. Credit cards, medical bills, personal loans – gone. You keep your essential belongings, your retirement accounts, and often your home. Then you start rebuilding your credit with a clean slate instead of drowning in payments that never seem to make a dent.

Murray Hill Bankruptcy Law Firm

We Handle New York Bankruptcy Cases

The Frank Law Firm P.C. has been helping Murray Hill residents navigate financial crises for years. We know the New York bankruptcy courts, the local trustees, and exactly how to protect your assets under state exemption laws.

You’re not just another case number here. We understand that good people end up in bad financial situations through no fault of their own. Job loss, medical emergencies, divorce, business failures – life happens. Our job is to get you through this legally and efficiently.

We’ve guided hundreds of clients through both Chapter 7 and Chapter 13 proceedings right here in New York. We know what works, what doesn’t, and how to position your case for the best possible outcome.

How to File Bankruptcy Murray Hill

Here's How the Process Actually Works

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 straight answers about your options.

If you decide to move forward, we handle all the paperwork and filing requirements. The automatic stay goes into effect immediately when we file, stopping all collection activities. You’ll attend a brief meeting of creditors about 30 days later – we’ll be there with you.

For Chapter 7, most cases are complete within 3-4 months. Chapter 13 involves a 3-5 year payment plan, but you get to keep your assets while catching up on secured debts like your mortgage. Either way, you end up with a fresh financial start and the legal protection you need.

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Debt Relief Attorney Murray Hill NY

What You Get With Our Representation

Complete bankruptcy representation from start to finish. We prepare and file all required documents, represent you at the meeting of creditors, and handle any issues that come up during your case. You get direct access to an experienced bankruptcy attorney, not just a paralegal.

We also provide foreclosure defense services if your home is at risk. Many times we can stop a foreclosure and help you keep your house through Chapter 13 or loan modification negotiations. The key is acting quickly before you run out of options.

Our flat-fee pricing means no surprises or hourly billing that adds up. We offer payment plans because we understand you’re already dealing with financial stress. The goal is to make quality legal representation accessible when you need it most, not add to your financial burden.

How quickly can bankruptcy stop foreclosure on my Murray Hill home?

Bankruptcy can stop foreclosure immediately when we file your case. The automatic stay is a federal court order that goes into effect the moment your bankruptcy petition hits the court system. This means if your house is scheduled for auction tomorrow and we file today, the sale gets stopped. However, timing is critical. The closer you are to the foreclosure sale date, the less time we have to prepare a strong case. Chapter 13 is usually the better option if you want to keep your home long-term, as it allows you to catch up on missed mortgage payments over 3-5 years while staying in your house.

What debts can Chapter 7 bankruptcy eliminate in New York?

Chapter 7 can eliminate most unsecured debts including credit cards, medical bills, personal loans, deficiency balances from repossessed cars, and old utility bills. It also wipes out most business debts if you’re a sole proprietor or partner. However, some debts survive bankruptcy like recent taxes, student loans, child support, alimony, and debts from fraud or criminal activity. Secured debts like your mortgage or car loan are handled differently – you can keep the property if you stay current on payments, or surrender it and eliminate any remaining balance. Most of our Murray Hill clients see 70-90% of their total debt eliminated through Chapter 7.

Will I lose my retirement accounts and personal belongings in bankruptcy?

No, most people keep all their important assets in bankruptcy. New York’s exemption laws protect your 401k, IRA, pension, and other retirement accounts completely. You also get to keep household goods, clothing, one vehicle up to a certain value, tools needed for work, and often significant home equity. The bankruptcy system is designed to give you a fresh start, not leave you with nothing. We carefully review your assets during the consultation to make sure everything important is protected under state and federal exemptions. The vast majority of our Chapter 7 clients keep everything they need while eliminating their debt.

How long does the bankruptcy process take in Murray Hill?

Chapter 7 bankruptcy typically takes 3-4 months from filing to discharge in the New York bankruptcy courts. You’ll attend one brief meeting of creditors about 30 days after filing, then wait for the discharge order. Chapter 13 involves a 3-5 year payment plan, but you get immediate protection and can often keep assets you’d lose in Chapter 7. The timeline can vary slightly depending on your case complexity and the court’s schedule, but we keep you informed throughout the process. Most clients are surprised how quickly they can get through Chapter 7 and start rebuilding their financial life.

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

We charge flat fees for bankruptcy cases, so you know exactly what you’ll pay upfront. Chapter 7 fees typically range from $1,500-$2,500 including court costs, while Chapter 13 cases are usually $3,500-$4,500. The exact fee depends on your case complexity, but we discuss pricing clearly during your free consultation. We also offer payment plans because we understand you’re dealing with financial stress. Many clients use their tax refund or stop making credit card payments for a month or two to save up the attorney fees. The investment in quality legal representation pays for itself by protecting your assets and ensuring your case goes smoothly.

What happens to my credit score after filing bankruptcy?

Your credit score will drop initially, but many clients see improvement within 12-18 months after filing. Here’s why: if you’re behind on payments and dealing with collections, your credit is already damaged. Bankruptcy eliminates the debt dragging down your score and stops the negative reporting from missed payments. You can start rebuilding immediately with secured credit cards, and many clients qualify for car loans within a year. The bankruptcy stays on your credit report for 7-10 years, but its impact decreases significantly over time. Most clients find they can get a mortgage 2-3 years after bankruptcy with proper credit rebuilding. The key is starting fresh rather than struggling with unmanageable debt for years.

Local Resources

Murray Hill, NY is located in New York County in New York State