Bankruptcy Lawyer in North Hempstead, NY

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North Hempstead Debt Relief Attorney

Your Financial Fresh Start Begins Here

When you file for bankruptcy, the automatic stay kicks in immediately. That means creditors must stop calling, stop sending threatening letters, and stop trying to collect from you.

If you’re behind on your mortgage, Chapter 13 bankruptcy can halt foreclosure proceedings and give you up to five years to catch up on missed payments. You keep your home while creating a manageable payment plan based on what you can actually afford.

Chapter 7 bankruptcy eliminates most unsecured debts entirely – credit cards, medical bills, personal loans. You walk away debt-free in about four months, keeping your exempt property including your home equity, retirement accounts, and personal belongings. The stress lifts, the calls stop, and you can focus on rebuilding rather than just surviving.

Nassau County Bankruptcy Law Firm

Local Experience, Real Results

We have been helping North Hempstead families navigate financial crises for years. We know the local bankruptcy trustees, understand Nassau County court procedures, and have guided hundreds of clients through both Chapter 7 and Chapter 13 cases.

We’re not a bankruptcy mill churning out cookie-cutter cases. Every situation is different, especially in North Hempstead where home values and family incomes vary widely. We take time to understand your specific circumstances and recommend the approach that protects the most assets while giving you the strongest fresh start.

How to File Bankruptcy

Simple Process, Powerful Protection

We start with a free consultation where you bring your recent pay stubs, tax returns, and a list of your debts and assets. We’ll review everything and explain whether Chapter 7 or Chapter 13 makes more sense for your situation.

Once you decide to move forward, we prepare and file your bankruptcy petition with the Nassau County court. The automatic stay goes into effect immediately, stopping all collection activities. We handle all communication with creditors and the bankruptcy trustee.

You’ll attend one meeting of creditors about a month after filing – we’ll be there with you. In Chapter 7, you’re typically discharged from your debts within four months. In Chapter 13, you’ll make payments according to your court-approved plan for three to five years, then receive your discharge. Either way, you get the fresh start you need.

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Chapter 7 and Chapter 13

Complete Bankruptcy Representation

We handle every aspect of your bankruptcy case from start to finish. This includes preparing all required documents, filing your petition with the court, representing you at the meeting of creditors, and ensuring you receive your discharge.

For North Hempstead homeowners, we’re particularly experienced with using New York’s generous homestead exemption to protect home equity. We also know how to structure Chapter 13 plans that work with Long Island’s higher cost of living and property taxes.

If you’re facing foreclosure, we can file an emergency bankruptcy petition to immediately stop the foreclosure sale. This gives us time to properly prepare your case and negotiate with your mortgage company. Many clients are able to keep their homes and get back on track with their mortgage payments through Chapter 13 reorganization.

How much does it cost to file for bankruptcy in North Hempstead?

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 because they involve ongoing court supervision – usually $3,500 to $4,500 plus a $313 filing fee. We offer payment plans and will often file your case as soon as you pay the filing fee and a portion of our fee. The automatic stay protection begins immediately upon filing, even if you’re still paying attorney fees. Given that most clients eliminate thousands or tens of thousands in debt, the cost of bankruptcy representation pays for itself many times over.

Will I lose my house if I file for bankruptcy?

Most North Hempstead homeowners keep their homes in bankruptcy. New York allows you to protect up to $170,825 in home equity (more for seniors and disabled individuals). If you’re current on your mortgage, Chapter 7 won’t affect your ability to keep your home. If you’re behind on payments, Chapter 13 can stop foreclosure and give you up to five years to catch up on missed payments while keeping your house. The key is acting quickly – once a foreclosure sale is scheduled, time becomes critical. We’ve helped many Long Island families save their homes through strategic bankruptcy filing.

What debts can be eliminated through bankruptcy?

Most unsecured debts are completely eliminated in bankruptcy – credit cards, medical bills, personal loans, old utility bills, and collection accounts. You’ll also discharge most business debts if you’re self-employed. However, certain debts survive bankruptcy including recent taxes, student loans, child support, alimony, and debts incurred through fraud. Secured debts like mortgages and car loans continue, but you can choose to surrender the property and eliminate any deficiency balance. We’ll review your specific debts during consultation and explain exactly what will be eliminated versus what remains.

How long does bankruptcy stay on my credit report?

Chapter 7 bankruptcy appears on your credit report for 10 years, while Chapter 13 shows for 7 years. However, the impact on your credit score decreases significantly over time, especially if you rebuild credit responsibly. Many clients see their credit scores improve within 12-18 months after discharge because their debt-to-income ratio improves dramatically. You can typically qualify for a mortgage 2-3 years after Chapter 7 discharge and immediately after completing a Chapter 13 plan. The temporary credit impact is usually far outweighed by eliminating overwhelming debt and stopping the damage from missed payments and collections.

Can I file for bankruptcy if I have a high income?

Yes, but it depends on your specific financial situation. If your income is above the median for New York, you’ll need to pass the “means test” to qualify for Chapter 7. This test considers your income, necessary expenses, and debt payments. Many North Hempstead residents with higher incomes still qualify for Chapter 7 due to high living costs, mortgage payments, and other allowable expenses. If you don’t qualify for Chapter 7, Chapter 13 is available regardless of income level and often provides excellent debt relief for higher earners. We’ll calculate your means test during consultation and recommend the best approach.

What happens to my retirement accounts in bankruptcy?

Your retirement accounts are fully protected in bankruptcy. 401(k)s, 403(b)s, pensions, and other ERISA-qualified plans are completely exempt from creditors. Traditional and Roth IRAs are protected up to $1,362,800 per person. This means you never have to choose between paying creditors and preserving your retirement security. Many North Hempstead residents are relieved to learn they can eliminate debt while keeping their entire retirement savings intact. We strongly advise against withdrawing retirement funds to pay debts that could be eliminated in bankruptcy – you’ll pay taxes and penalties while depleting protected assets.

Local Resources

North Hempstead, NY is located in Nassau County in New York State