Debt Relief Lawyer in Long Island

There are many misconceptions and myths about the subject of bankruptcy that can prevent a person from using this financial tool when it is factually the best option for them. One of the first things that we as bankruptcy lawyers can do is to help you understand what bankruptcy actually is and what you can do with it. Bankruptcy is a court based system that adheres to specific rules and guidelines. It's a process that an individual or a corporation undergoes to get relief from the burden of debts and to have a new financial start. When the situation warrants it, who wouldn't desire a new financial start? An experienced Long Island bankruptcy lawyer who knows the rules and how to apply them to your financial situation may be of great benefit to you now and in your future.

What are the benefits of filing for bankruptcy?

For those struggling with insurmountable debt loads and financial instability, filing for bankruptcy has the capacity to provide many benefits. These benefits can far outweigh the disadvantages that are inherent in the bankruptcy process and can eventually lead to one enjoying a debt-free life. Some of the major benefits to bankruptcy include:

Relief from creditors and creditor harassment - After filing for bankruptcy, a bankruptcy administrator takes on the role of liaison between the debtor and the creditor, which results in the individual no longer having to deal directly with their creditors. Not having to deal with creditor harassment can have a direct impact on the quality of your life.
Discharge of debt - Upon completion of bankruptcy proceedings (be it Chapter 7 or Chapter 13), an individual's debts are considered satisfied and are fully discharged, leaving them debt-free.
Financial clean slate - After a person's debts have been discharged in a bankruptcy, they essentially are granted a financial fresh start, with limited access to credit for a certain period of time, and full access to credit once the bankruptcy has been removed from their credit record.

The benefits of bankruptcy are numerous and can result in a financially stable future for those that undergo the process. For further information on the subject, as well as professional legal advice and assistance, contact the Law Offices of Scupp & Berman, LLP as soon as possible. We can provide thorough legal assistance to those filing for bankruptcy or considering bankruptcy as an option. Our legal team works with clients on a one-on-one basis throughout their proceedings, to help ensure that they reach a smooth and successful resolution to their case.

Bankruptcy Lawyer Serving Nassau and Suffolk Counties

At our firm, we have handled thousands of cases involving personal and business finances and believe you have a right to know certain truths about bankruptcy. It is not true that your employer will be notified if you file for bankruptcy. Although bankruptcy cases are part of the public records unless an effort is made to specifically search for your bankruptcy case, the information does not have to be broadly disseminated. It is not true that if you file for bankruptcy you will automatically lose your home or your car or other personal property. Bankruptcy law provides for these assets to be protected in various circumstances and this is where a competent, experienced attorney may be able to assist you.

One of the best advantages to bankruptcy is that when the process begins, the debt collection actions must cease. Once your bankruptcy petition is filed any collection hassles, foreclosures, repossessions, lawsuits dealing with collection of debts and the like must all be put on hold. Perhaps the ultimate benefit is that at the end of the process, you will be free from any eligible debt and can start your financial life anew.

There are considerable benefits to filing for bankruptcy. Want to know how it can help you? Contact the Law Offices of Scupp & Berman, LLP today!