The New Bankruptcy Laws
(Yes, You Can Still Get Relief from Debts!)
Recent changes in federal law have scared off many citizens, under the false impression that consumers can no longer file for bankruptcy. In reality, most people who qualified before Congress changed the Bankruptcy Code are still eligible for filing bankruptcy.
There's a lot of bad information out there. Get the straight truth from attorney Robert Lewis. His Nyack, New York law practice has helped hundreds of people in Rockland County, Orange County and the Lower Hudson Valley find debt relief and a new beginning through bankruptcy. He will answer all your questions in a free initial consultation. Call 845-358-7100.
The Changes in the Law Should Not Be a Barrier
The chief purpose of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was to reduce fraud and eliminate loopholes for rich people who have the means to repay their creditors. It remains an important safety net for honest debtors like yourself who have fallen on hard times — job loss, health issues or personal debt from a business that failed.
The main changes in the law, and how they may affect your bankruptcy filing:
- An income means test — Some high earners can no longer qualify for Chapter 7 discharge of debts, but the average family overwhelmed by debt will still qualify. If not, Chapter 13 reorganization is still available to protect you from creditors while you repay your debts over time.
- Additional documentation — Congress required more financial disclosures for filing bankruptcy. This shouldn't hurt your chances of approval — but the additional paperwork adds somewhat to the legal fees.
- Pre-bankruptcy advice — All filers (Ch. 7 and Ch. 13) must show proof of credit counseling from an approved agency before filing for bankruptcy, to explore debt consolidation and alternatives. This can often be done online or over the phone, and we can steer you to a reputable agency.
- Post-filing counseling — You must take a course on budgeting and debt management before your debts are discharged by the court. This helps you emerge from bankruptcy better able to avoid a similar situation. This also can be done in a short session, or by phone or Internet.
Another impact of the changes in the bankruptcy law is that many lawyers have left the field. Robert Lewis brings 20 years of experience and stays abreast of the laws and judicial rulings that affect your petition.
If you have high credit card debt or risk losing your home to foreclosure, you can get relief from high-pressure debt collection agencies and reduce or eliminate what you owe. Arrange a free initial consultation today with Mr. Roberts at our Nyack law office.
We are a debt relief agency. We help people file for relief under the Bankruptcy Code.
