BANKRUPTCY AND RESTRUCTURING

Bankruptcy refers to the federal court process of eliminating or restructuring a person’s debt. The two most common forms of bankruptcy available to individuals and families are Chapter 13 bankruptcy and Chapter 7 bankruptcy.

Chapter 7 bankruptcy, also known as liquidation, is the most common form of bankruptcy as it eliminates most of a person’s unsecured debt. However, Chapter 7 does not discharge all of a person’s debt, such as alimony or tax debt. Unlike Chapter 7, Chapter 13 bankruptcy does not discharge debt completely but instead consolidates an individual’s debt and restructures it into a feasible monthly payment plan to be paid off over a 3 to 5 year period.

Since more and more New York residents are finding themselves in financial distress, Rodriguez and Fuentes, PC offers comprehensive bankruptcy and restructuring programs to individuals who are facing bankruptcy due to job loss, wage garnishment, illness, divorce or any other reason that results in an inability to keep up with their current cost of living.

Our primary focus is to assist these individuals with debt settlement and the process of filing for bankruptcy in New York State. We have made it our business to become experts on New York bankruptcy law so that we can help our clients make the best and most informed decisions regarding their finances. Our main goal is to help you get back on track with your finances, which is why we provide effective counsel and representation for a broad range of financial issues, including:

  • Safeguarding your financial and bankruptcy status from employers
  • The process of filing for bankruptcy
  • How to keep your possessions despite filing for bankruptcy
  • The impact of debt settlement on your credit score
  • The process of re-establishing credit