FREEDOM = FRESH START

In these increasingly tough and uncertain economic times, many individuals are struggling due to factors out of their control such as loss of income and increased expenses. Many can barely afford their monthly necessary household bills, let alone any other debt that may have accumulated over the years. If this sounds familiar, then chances are that your creditors will soon move for judgment against you. Once this happens, they will begin to freeze all your bank accounts, garnish your wages, and start attaching all your property (including cars and any real estate owned by you which can be forced into foreclosure).
Before it is too late, call me for your free debt relief phone consultation.

Many times your creditors will not work with you. I understand the mixed emotions this may bring about. If this is the case, then usually bankruptcy is the best opportunity for you to get freedom from these creditors. Although debt settlement and debt refinancing are heavily advertised among consumers trying to get out of serious debt, more often than not, I find that bankruptcy is the quickest, cheapest, cleanest, and most productive path to a fresh, financial start. Bankruptcy allows you to take charge of your financial situation, to resolve problems that will only grow larger, so that you may move on with your life.

Benefits of filing Bankruptcy include:

1. You get freedom with a fresh start. You will now be able to pay for the things that are important to you, your family, and your future.

2. Your bills go away, or at least you get a handle on them through a Chapter 13 Plan. Bankruptcy wipes out (discharges) most, if not all, of your credit cards, medical debt, and other unsecured debt.

3. Bankruptcy is the best way to save your home according to recent studies. This is because you have a better chance of modifying your mortgage and entirely eliminating second and third mortgages as well as judgments on your property through bankruptcy.

4. You get your dignity back. Throughout history, financial crisis has affected the lives and relationships of individuals and businesses. The historical trend of debtor relief has favored punishment rather than forgiveness. However, the present United States Bankruptcy Code is a radical departure from this trend. The United States Bankruptcy Code is probably the most liberal debtor-relief bankruptcy system since the jubilee year of the Old Testament. All debts were forgiven during the jubilee year which occurred every fifty years and every seventh year there would be a sabbatical year in which some limited form of debtor relief also existed. See Leviticus CXXV, versus 1-8. Further, if you’re feeling alone or depressed because of financial problems, cheer up! You’re in good company. Below is a list of some of the famous people who have filed for bankruptcy or had severe financial problems before the modern bankruptcy code was adopted. Please note that most of these folks had their great success and fame after their bankruptcies.

President Donald Trump's businesses (six different times)
Thomas Jefferson, patriot and President
L. Frank Baum, author of “The Wonderful Wizard of Oz”
Rembrandt, painter
Henry Heinz, ketchup magnate
Milton Hershey, chocolate magnate
Henry Ford, auto magnate
Wayne Newton, entertainer
Walt Disney, creator of Mickey Mouse
Ulysses S. Grant, President and Civil War general
Larry King, talk show host
Stan Lee, comic book creator of “Spider Man”
Mark Twain, humorist

5. Your credit score will return. By using new credit wisely (paying the balance of any credit card off in full each month) and by now paying other bills as they come due, your credit can be rebuilt much more quickly.

6. You get your life back. Financial problems go hand in hand with problems with your home life and relationships. Getting rid of debt usually means getting back on track with everything else.

7. No tax issues. Did you know that if you settle your debt for less than the full amount or is otherwise cancelled without filing bankruptcy, the creditor will issue you a 1099-C for the amount of debt cancelled? Usually, this amount can be included on your income tax return as additional income for which income taxes will now have to be paid. Bankruptcy is an exception to this income rule.

Filing for bankruptcy is a serious and involved process with many legal and tax issues (means test). I am familiar with the complexities of the recently revamped bankruptcy system and can competently guide you through the process seeing to it that you know all of your risks and exposures.

I have worked extensively on bankruptcy matters for over twenty years. Before I opened my own law and accounting practice, I worked for the United States Bankruptcy Court for the Southern District of New York (Poughkeepsie Division) under Hon. Jeremiah E. Berk first as his bankruptcy law intern and then as his personal bankruptcy law clerk. I am also a Certified Public Accountant and hold a Masters in Taxation, which are very useful under the new Bankruptcy Code that now utilizes IRS standards for the means test. I am a former officer of the Mid-Hudson Bankruptcy Bar Association and a member of the Hudson Valley Bankruptcy Bar Association, Dutchess County Bar Association, and the New York State Bar Association.

I offer my personal attention to your matter and a free phone consultation to determine if bankruptcy is a feasible option for you. Further, my office has free parking, is handicap accessible, and conveniently located one block from the Bankruptcy Court (where you will have to make an appearance once your case is filed).