Are you struggling with debt in Rome, New York? Oneida County attorneys at the Hobaica Law Office can help you deal with personal debt with a Chapter 7 bankruptcy filing.
Being in debt is almost inevitable, but some individuals and families in Rome are in far too deep. Job loss, medical treatments, or excessive credit card use can quickly lead to drowning in debt, and that can be hard to find a way out of.
On top of being a constant drain on resources with added late penalties, wage garnishments and threats to your home or property, debt comes with brutal social stigma. It can be hard to talk about, to admit, even to ourselves and our loved ones. Yet, if you do reach out and ask for help, there are solutions to personal debt, including Chapter 7 bankruptcy.
With an office just down the Expressway in Utica, the bankruptcy lawyers of the Hobaica Law Office have extensive experience helping Oneida County debtors, including plenty in Rome, find a way through to a fresh financial start using Chapter 7 bankruptcy.
Bankruptcy is a word with a lot of weight, and none of it is pleasant. It is associated with failure, desperation, and hopelessness, but the truth is that it is often the opposite. It is often a successful way to put debt behind you and find hope again.
Chapter 7 is the simplest and most straightforward bankruptcy filing, suitable for the vast majority of folks struggling with too much debt in Rome and throughout New York. It is designed to help individuals, not businesses, and works by paying off creditors by selling non-essential or exempt assets. Such sales rarely cover most of the debt, however, so much of it ends up being discharged or forgiven, giving you a clean slate from which to start afresh.
Not all debt, nor all debtors, will be eligible for Chapter 7 bankruptcy relief.
First, only unsecured debt can be discharged in Chapter 7, which means any debt with property or assets tied to it cannot be (such as a mortgage, sorry). Examples of eligible debts include medical debts, credit card debt, overdue rent and other bills. Some unsecured debts are still not eligible if they fall into certain legal or protected categories, such as student loans or unpaid child support.
Furthermore, Chapter 7 bankruptcy has strict wealth and income restrictions. As a result, the wealthiest individuals in Rome will not be eligible for Chapter 7 debt relief. If you are not sure whether you or your debts can benefit from Chapter 7 bankruptcy, you should ask a bankruptcy lawyer. In Rome or anywhere in Oneida County, those at the Hobaica Law Office would be honored to help.
Being eligible and actually obtaining the discharge of your debts, however, are two very different things. The filing process is full of pitfalls, important paperwork, minutia and meetings, some of which will happen in front of a judge (fortunately, these days, the Northern New York Bankruptcy Court in Utica allows for online hearings). An attorney will be your guide through the process, offering a number of crucial improvements to your chance of getting out from under your debt.
Bankruptcy is not an easy process, nor one that should be taken lightly or undergone without being sure there is no easier path. A consultation with one of the bankruptcy lawyers at The Hobaica Law office can help you figure out if bankruptcy, especially a drastic Chapter 7 bankruptcy, is the only or best way to settle your debt problems.
Chapter 7 bankruptcy starts (after you have completed a government-mandated course on fiscal responsibility) with a LOT of paperwork. From gathering financial documents and disclosures to the actual application itself, errors will slow down the process or even be interpreted as attempted fraud. Having a qualified bankruptcy lawyer help you prepare or at least review everything is vital to starting your Chapter 7 filing off on the right foot.
One of the biggest advantages of filing for bankruptcy in New York and throughout the country is the imposition of the bankruptcy stay. This halts creditors’ attempts to repossess your property, garnish your wages, or just generally harass you to try to get their money. At this point, if you have a lawyer, they will also step in to make sure creditors respect that rule and handle all the nagging communication with them so that you can focus on starting afresh.
Hobaica Law Office | Experienced bankruptcy attorneys serving Rome, Oneida County, and all of Central And Northern New York.
Are you dealing with overwhelming debt in Rome? You do not have to struggle alone. The bankruptcy lawyers at the Hobaica Law Office in Utica can help you find relief and a new beginning by guiding you through the Chapter 7 filing process.
Your path starts with a simple phone call to (315) 627-2800 or a visit to the Hobaica Law Office website, where you can leave our attorneys a message discussing your situation.
