New Yorkers believe in hard work, but for too many of us, no matter how hard or how much we work, the debts keep piling up, and there seems to be no way out. In the Orchard Park community and throughout WNY, you could very quickly be facing foreclosure or repossession if you miss or couple of car or mortgage payments. In fact, some creditors in New York will sue you for debts you owe them. Serious debt troubles can’t be solved swiftly or conveniently, but Orchard Park bankruptcy Lawyer Stephen K. Underwood can help. For nineteen years, bankruptcy lawyer Steve Underwood has helped homeowners and families file for bankruptcy and get successfully on the path to a fresh financial start.
Need help because your are struggling with debt and want to stop creditor lawsuits and debt collector harassment, a Chapter 7 bankruptcy will help. A Chapter 7 Bankruptcy will let you discharge all unsecured debt such as credit card bills, and medical bills. A Chapter 13 bankruptcy will reorganize your debts and allow you to repay past-due mortgage and auto payments so you can keep your car and home. Filing for bankruptcy isn’t the best answer for every debt situation, but it may be the best answer for many Orchard Park residents who have a serious debt problem.
A question that we get from time to time revolves around whether it is legal for a company to garnish a bank account for an unpaid credit card. If you defaulted on a card, the credit card issuer could sue you personally or they could sell your account to a collection law firm. This is common practice, although it seems to happen at a time when you do not expect it. Some creditors who sue are companies who generally seem to sue everyone who fails to pay. They hire a collection law firm to file the lawsuit against their customers that did not pay. The statute of limitations in NY is 6 years for filing a lawsuit on a bad debt, so some of these creditors wait nearly 6 years before they file a lawsuit when they think you are in a better financial place. If your bank account has already been frozen, a bankruptcy can unfreeze your bank account. Your bank account can not be frozen if there has not been a judgment entered against you.
Alternatives to bankruptcy, such as direct debt settlement negotiations with your creditors may be more appropriate for some clients who seek debt relief and resolution. A New York bankruptcy lawyer will assess your overall financial circumstances like your income, assets, debts, and obligations before suggesting that you file for bankruptcy. Get the help need and deserve, and take the first step now. Call Stephen K. Underwood right away at 716-656-7676 an experienced Orchard Park bankruptcy attorney.