Preparing to File for Bankruptcy

Gregory Messer's Bankruptcy Legal Blogs

Licensed for 39 years

Attorney in Brooklyn, NY

Gregory Messer

718-717-2368

Serving Brooklyn, NY

Member at firm The Law Office of Gregory Messer

Serving Brooklyn, NY

Awards AV Preeminent

In order to prepare for bankruptcy, it is important to gather all of your bills and be prepared to discuss them openly with your attorney. You will also need to gather information on any assets you own – including a home, car, jewelry and personal items.

Once you have those documents together, the next step is to decide under which chapter of bankruptcy you will file.

Bankruptcy options

  • Chapter 7. This is the most common choice. A Chapter 7 bankruptcy will erase most of your debts while allowing you to keep certain personal items, as well as your home (in some cases). Under New York State law, you are entitled to keep your home if you have $10,000 or less in built-up equity in your home.

  • Chapter 13. In this case, your debts are not erased but merely renegotiated by the court. Depending on your specific situation, you will not have to give up much in the way of personal property. However, you will be expected to stick to a monthly repayment plan to pay back what you owe (generally between three to five years).

Once you have your documents and have made a decision about which kind of bankruptcy you will file, you should find a competent bankruptcy attorney who can file your request here in New York City. Your attorney can advise you as to which assets you can expect to keep during a bankruptcy and which ones you should expect the court to order sold in order to pay your debts.  Bankruptcy is never easy but with the right attorney, it can be easier.

An attorney who understands your financial pain

Gregory Messer has over 30 years of experience working with bankruptcy clients from all walks of life in New York City. Whether you are dealing with a simple bankruptcy or you owe millions of dollars, Law Office of Gregory Messer is here to help you make a fresh start.

Law Office of Gregory Messer

26 Court Street, Suite 2400

Brooklyn NY 11242

718.717.236In order to prepare for bankruptcy, it is important to gather all of your bills and be prepared to discuss them openly with your attorney. You will also need to gather information on any assets you own – including a home, car, jewelry and personal items. Once you have those documents together, the next step is to decide under which chapter of bankruptcy you will file. Gregory Messer has over 30 years of experience working with bankruptcy clients from all walks of life in New York City.

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