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Rockland County Chapter 7 Bankruptcy Lawyer

Nobody wants to think about the day where they have to file for bankruptcy, however, for many people, doing so is their only option, and in many cases, it is the best option. If you’re in serious debt and you cannot figure out a way to pay it off, our Rockland County Chapter 7 bankruptcy lawyer is here to guide you through every step of the bankruptcy process ahead. Continue reading and contact The Lauterbach Law Firm to learn more about how our firm can assist you.

Why Hire a Rockland County Chapter 7 Bankruptcy Lawyer?

If your debts are piling up and you believe that bankruptcy is your only option, time is of the essence, which is why it is so critical that you hire a local bankruptcy attorney who can assess your financial situation and determine whether Chapter 7 is the best option for you. Our Rockland County bankruptcy lawyer is here to help.

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy, also known as liquidation bankruptcy, is essentially when an individual liquidates his or her assets to pay off his or her debts. While liquidation may sound a bit frightening, the truth is, you can keep many of your assets and possessions when filing Chapter 7 bankruptcy, including your home, your vehicle, and other personal possessions. Furthermore, filing Chapter 7 bankruptcy will wipe out most dischargeable debt, such as credit card debt. You should note, however, that not all debts are dischargeable; alimony/child support payments, criminal court debts, certain tax debts, and more, are non-dischargeable, meaning you will have to continue to pay off those debts even after filing for Chapter 7 bankruptcy. To qualify for Chapter 7 bankruptcy, your family income must be less than the average family income in your county.

The Automatic Stay

When someone files for Chapter 7 bankruptcy, among the biggest benefits is that doing so triggers an Automatic Stay. This means that the moment you file for bankruptcy, all collection activities will cease. Therefore, until your bankruptcy is finalized, you will no longer have to worry about being harassed by collection agencies, facing lawsuits, bank restraints, wage garnishments, and more. Perhaps most importantly, an Automatic Stay immediately prevents foreclosure on your home, allowing you and your family to stay put and refocus on straightening out your financial situation in the meantime.

Contact Our Rockland County Chapter 7 Bankruptcy Lawyer

There are few situations more distressing than being unable to pay off debts, especially when you are at risk of losing your home. The Lauterbach Law Firm understands this, and we are ready to do everything in our power to make the bankruptcy process move along as smoothly as possible. Contact our firm to learn more about how we can help you and your family breathe easy once again.

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