If you are considering filing for bankruptcy, having proper representation is crucial. Attorney Frank S Ieraci provides quality legal representation for all bankruptcy-related services, including both Chapter 7 and Chapter 13 bankruptcy cases.
With years of experience working as a bankruptcy lawyer in Buffalo, NY, Attorney Ieraci knows the ins and outs of New York State bankruptcy law. He can help stop foreclosures and wage garnishments and put an end to harassing phone calls from debt collectors.
Chapter 7 vs. Chapter 13 Bankruptcy
Not everyone qualifies to file for Chapter 7 bankruptcy, also known as liquidation bankruptcy. In order to file, your disposable income must be low enough to pass the means test. If you pass, you will receive a discharge for most of your debts.
If you don’t pass, you have the option to file for Chapter 13 bankruptcy, also known as reorganization bankruptcy. If you file for Chapter 13 you can keep your property, but you have to pay back a percentage or all of your debts within a 3 to 5 years period.
Attorney Ieraci can discuss your options with you and help you to determine which solution works best for you and your family.