Bankruptcy & Debt Negotiation
Helping you find debt relief
Filing for bankruptcy is an important decision that has significant implications for your life. When mounting debt begins to feel unmanageable, bankruptcy can provide relief. Jeffrey Thomas Massaro, Counsellor-at-Law, helps you decide whether filing for bankruptcy is the most effective way for you to take control of your debt.
debt analysis & Negotiation
Our office can assist people with overwhelming debts. In doing so, we will analyze your case to determine if bankruptcy will advance your immediate and long-term financial goals. We can review your debts, income and expenses, and explain the full effects of bankruptcy on your family, business, homeownership, and access to credit. If bankruptcy is the right choice, our attorneys provide detailed information about the bankruptcy process along with a complete picture of the outcome you should expect. Our upfront approach to bankruptcy will give you confidence in your financial future.However, oftentimes bankruptcy is not your only option. We can work with creditors to develop out-of-court solutions that avoid bankruptcy. Frequently, we can negotiate a smaller debt amount that is payable in more manageable monthly installments.
Your bankruptcy options
The U.S. Bankruptcy Code provides relief for businesses and consumers. Each has different eligibility requirements and different advantages for particular situations. The most common forms of bankruptcy are:
Chapter 7 Bankruptcy
For individuals and their spouses who own non-substantial assets and earn moderate incomes, Chapter 7 bankruptcy grants you relief from debts through liquidation of your assets. This chapter of the Code provides you with a "fresh start."
Chapter 11 Bankruptcy
For corporations, partnerships and sole proprietorships, Chapter 11 bankruptcy permits your business to continue operating while you pay creditors under a reorganization plan.
Chapter 13 Bankruptcy
An option for families facing foreclosure, high wage-earners, or for those whose debts are exceedingly high, Chapter 13 bankruptcy permits you to pay off debts under a court-ordered installment plan extending three to five years. This option provides numerous advantages, including the possibility of keeping your home.
If bankruptcy is the right choice for you, our law firm will stay at your side, guiding you through the process from start to finish.
Reprieve through automatic stay
Filing a bankruptcy petition automatically triggers automatic stay, meaning creditors must immediately stop collections letters, phone calls and garnishments. Our office will correspond with your creditors from the moment you file for bankruptcy and act on your behalf, receiving all communications so that you do not have to deal with burdensome collection efforts.
Bankruptcy clients are often subject to collection practices that may be unethical or even violate the law. Jeffrey Thomas Massaro represents debtors who are being harassed by creditors or are otherwise being treated in violation of the various consumer protections afforded to debtors.
Contact an experienced bankruptcy attorney
Consulting with a bankruptcy attorney does not obligate you to file for bankruptcy protection. If you are considering bankruptcy, or wondering how bankruptcy may help or hurt you, take your first step toward debt relief by scheduling an informative meeting with a bankruptcy and debt negotiation attorney. Call Jeffrey Thomas Massaro, Counsellor-at-Law at (201) 880-8989 or contact my office online to schedule your bankruptcy consultation.