• Bankruptcy Solutions
• Foreclosure Solutions
• Modification & Negotiation
• Credit Card Debt Relief

Representing Clients During Bankruptcy in Valley Stream and Throughout Nassau County

With a population of just more than 37,000, Valley Stream, New York, is the home of people from many walks of life. Served by the Long Island Railroad (LIRR), Valley Stream is a great place for white-collar commuters to settle down with their families while still maintaining jobs in Manhattan. Numerous talented actors, singers, politicians, and athletes hail from Valley Stream, and several directors shot well-known films there, including Goodfellas and The Brothers McMullen. Valley Stream has a respected school system, many parks, the Green Acres Mall, and many other amenities that help make it feel like home for its residents. In fact, in 2017, Money magazine deemed Valley Stream as the best place to live in New York State.
While this is a great place to live, residents of Valley Stream face financial hardships like everyone else. In one year, more than 15,200 persons filed for bankruptcy in the Bankruptcy Court for the Eastern District of New York, including almost 3,300 in Nassau County alone, where Valley Stream is located. The median income is less than $95,000 per household, and nearly 7 percent of people live below the poverty line. While Valley Stream has a lot to offer, its residents still have financial problems and should not feel afraid to face them head-on.
The Law Office of Ronald D. Weiss helps people who live and work in Valley Stream find effective debt solutions, including bankruptcy and foreclosure defense. If your debts are mounting and you cannot pay your bills, you should never hesitate to discuss the possible benefits of bankruptcy with a lawyer at our firm. Please contact us today to schedule your consultation.

Should You Consider Bankruptcy?

Many people know that bankruptcy is a possible option to resolve financial problems, though they may not think bankruptcy is necessarily right for them. The reality is that bankruptcy helps many types of people who face debt for many different reasons. Some common reasons for bankruptcy include:

• Loss of a job
• Disability
• Serious illness or injury
• Tax debts
• Making poor investment or financial decisions
• Not understanding the risks of credit cards
• Predatory lending

You may think that bankruptcy is only for people who insisted on living beyond their means or who want “free money.” This is far from the case. Many responsible people take on debt due to circumstances beyond their control, and they seek bankruptcy as a way to start over. Our lawyers can evaluate your situation and help you decide whether bankruptcy is a viable option for you.

Types of Consumer Bankruptcy

Different types of bankruptcy are available under federal law for consumers and businesses. Consumers may file individually or as a married couple, and there are two primary consumer bankruptcy options:
Chapter 7 – Chapter 7 bankruptcy is commonly called a “liquidation” bankruptcy because the bankruptcy trustee can seize certain assets and liquidate them. The proceeds go to your creditors, and the court can discharge the remaining qualified debts. Many people hear the word “liquidation” and believe they will lose everything. However, New York allows you to apply numerous exemptions to protect a substantial amount of your property, and some people do not lose anything at all. Debtor and Creditor Law § 285 also allows New Yorkers to choose between the federal and state exemptions, and an attorney should help you select which set best benefits your situation. A Chapter 7 discharge will eliminate most of your unsecured debts so that you will end your case with a relatively clean slate.
Chapter 13 – Some consumers file for Chapter 13 bankruptcy, which is called the “reorganization” bankruptcy. You keep your property, but the law requires you to make payments for three or more years before you can receive a discharge. Instead of having to pay all your debts, you will make a single monthly payment to the court, and the trustee will prioritize your debts and apply payments as they see fit. When you finish your repayment plan, the court can discharge your remaining debts.
Many people file for Chapter 13 bankruptcy because they have too much income to qualify for Chapter 7, or because they want to protect non-exempt property or assets. Our attorneys can go over the benefits and drawbacks of each option and help you select the type of bankruptcy case that is right for your situation.

Taking the Next Step

If you think bankruptcy may be appropriate in your situation, you should not wait any longer to consult with a Valley Stream bankruptcy lawyer. The Bankruptcy Court for the Eastern District of New York (EDNY) adheres to both the Federal Rules of Bankruptcy Procedure and local EDNY rules and procedures, so it is important to have a highly experienced bankruptcy attorney on your side who understands how this court works.
Attorney Ronald Weiss and his legal team regularly appear in the EDNY bankruptcy court, and we can guide you through the process and keep you informed every step of the way. We help bankruptcy clients with the following and more:

• Determining if bankruptcy is the right decision for you
• Calculating whether you pass the means test for Chapter 7 bankruptcy
• Determining if you meet the residency requirements
• Helping you decide between Chapter 7 or Chapter 13 bankruptcy
• Completing your bankruptcy petition and supporting documents, which are extensive
• Representing you at the 341 meeting of creditors
• Negotiating a reasonable repayment plan for a Chapter 13 case
• Helping you apply exemptions for Chapter 7 cases in the most beneficial manner
• Address any creditor or trustee objections to discharge
• Ensuring you meet all necessary requirements so that your case wraps up with a discharge

Contact Our Valley Stream Bankruptcy Law Firm for More Information

Dealing with overwhelming debt is undoubtedly stressful, but the bankruptcy process does not have to be with the right legal representation. The longer you wait, the more debt problems may pile up, and the greater the impact will be on your life. Bankruptcy can help you obtain a fresh start, so you should not wait any longer to contact the Law Office of Ronald D. Weiss for assistance. We help clients in Valley Stream and throughout Nassau and Suffolk Counties. Call (631) 271-3737 or contact us online to learn more about the bankruptcy process and possible benefits today.
Law Office of Ronald D. Weiss, P.C
70 East Sunrise Hwy #500
Valley Stream, NY 11581
(516) 858-3003

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