Best Bankruptcy Lawyers in Great Neck

About Bankruptcy Law in Great Neck, United States

Bankruptcy law in Great Neck, United States provides individuals and businesses with a legal process to eliminate or repay their debts under the protection of the bankruptcy court. This allows debtors to have a fresh start financially and creditors to receive some repayment of debts owed to them.

Why You May Need a Lawyer

Bankruptcy can be a complex legal process with various rules and requirements that can be difficult to navigate on your own. A lawyer experienced in bankruptcy law can help you understand your options, guide you through the process, and ensure that your rights are protected. You may need a lawyer if you are facing overwhelming debt, considering filing for bankruptcy, or need assistance with creditors.

Local Laws Overview

In Great Neck, United States, individuals can file for bankruptcy under Chapter 7 or Chapter 13 of the Bankruptcy Code. Chapter 7 bankruptcy involves liquidating assets to pay off debts, while Chapter 13 bankruptcy involves creating a repayment plan over three to five years. It is important to understand the specific requirements and limitations of each chapter before filing for bankruptcy in Great Neck.

Frequently Asked Questions

Q: What are the different types of bankruptcy?

A: The most common types of bankruptcy for individuals are Chapter 7 and Chapter 13.

Q: Will bankruptcy ruin my credit?

A: Bankruptcy will have a negative impact on your credit score, but it is possible to rebuild your credit over time.

Q: Can I keep my house and car if I file for bankruptcy?

A: It depends on the type of bankruptcy you file and the equity you have in your assets. A lawyer can help you determine the best course of action.

Q: How long does the bankruptcy process take?

A: The bankruptcy process can take a few months to several years, depending on the type of bankruptcy and individual circumstances.

Q: Will I have to go to court if I file for bankruptcy?

A: You will have to attend a meeting of creditors, but you may not have to go to court if everything is in order.

Q: Can I discharge all of my debts in bankruptcy?

A: Not all debts are dischargeable in bankruptcy, such as student loans and child support payments.

Q: How much does it cost to file for bankruptcy?

A: The filing fee for bankruptcy in Great Neck, United States is currently $335 for Chapter 7 and $310 for Chapter 13.

Q: Will I lose my job if I file for bankruptcy?

A: It is illegal for an employer to discriminate against an employee for filing bankruptcy.

Q: Can my creditors still contact me after I file for bankruptcy?

A: Once you file for bankruptcy, an automatic stay goes into effect, preventing creditors from contacting you or pursuing collection actions.

Q: How can a lawyer help me with bankruptcy?

A: A lawyer can help you understand your options, prepare and file your bankruptcy petition, represent you in court, and negotiate with creditors on your behalf.

Additional Resources

For more information on bankruptcy in Great Neck, United States, you can visit the United States Bankruptcy Court for the Eastern District of New York's website at www.nyeb.uscourts.gov. You can also contact the Legal Aid Society of Nassau County for assistance with bankruptcy issues.

Next Steps

If you are considering filing for bankruptcy or need legal assistance with bankruptcy in Great Neck, United States, it is important to consult with a qualified bankruptcy lawyer. They can guide you through the process, explain your options, and help you make informed decisions about your financial future.