New York Bankruptcy Law
FANNING & HUGHES: New York Bankruptcy Law Firm
If you are suffering under the burden of debt, an experienced New York bankruptcy lawyer from Fanning and Hughes can give you a fresh financial start. The New York bankruptcy lawyers at Fanning and Hughes can help you file for bankruptcy under Chapter 7 or Chapter 13.
Bankruptcy Myths
You will loose all of your property
Not true. The Bankruptcy law may allow you to keep your home, cars, furniture, appliances, retirement savings and other items. While there are limits, most people are not required to give up anything.
Your credit will be ruined for 10 years
Not true. The negative impact of bankruptcy on your credit is greatly exaggerated. Bankruptcy is often no more harmful to your credit record than the defaults that preceded the bankruptcy. With bankruptcy, however, you are given a fresh start and an opportunity to rebuild your credit.
Apply for a secured credit card. These cards are backed by money that you deposit in a special account. They help you get started in building credit. It won't be long before you're getting credit card offers again. We have had many clients purchase a home within two years of filing bankruptcy. Remember, however, that you must make efforts to restore your credit and establish your financial stability.
You need to be broke to file for Bankruptcy
Not true. You can be have a job, a bank account and own property up to certain limits.
Your immigration status will be affected
Not true. Your immigration status is not affected in any way by filing for bankruptcy.
This will affect my spouse.
Not necessarily true. If the debt is in your name only, then your spouse does not have to file bankruptcy. A person is not responsible for the debts of their spouse. If you and your spouse have joint debts, however, then you will both need to file in order to discharge the debt.
We are a federally designated debt relief agency helping people file for relief under the bankruptcy code.
FANNING & HUGHES, PLLC
108-18 Queens Blvd -
4th Floor
Forest Hills, NY 11375
718.261.3290
contact@FHLawOffice.com
