Glen A. Kurtis, P.C.
Glen A. Kurtis, P.C.
  • 175 Main Street
    Suite 614
    White Plains, NY 10601
  • Call Today For A Legal Consultation

    (914) 686-3171
Elimination Of Debt Through The Chapter 7 Bankruptcy Process

Elimination Of Debt Through The Chapter 7 Bankruptcy Process

Your Guide To A Debt Free Life In New York

Are you being sued for credit card debt? Is credit card debt a contributing stress in your life? Do you feel like you are drowning in debt and struggling to pay your monthly bills? Creditors calling can add to that stress even more so. There are multiple ways to settle debts. Contact the best debt settlement lawyer to help you plan a path to becoming debt-free. I am an experienced bankruptcy lawyer and credit card debt attorney, practicing in Yonkers, NY. I can help you decide which course is best for your personal situation.

Call today for a Legal Consultation  (914) 686-3171

Credit Card Debt Settlement

Credit card debt settlement occurs when the debtor offers to pay a large lump sum of the debt upfront to the creditor. In return, the creditor forgives the remaining outstanding balance. A debtor might choose credit card debt settlement before filing bankruptcy. To determine if credit card settlement is right for you, call (914) 230-0040 to schedule a consultation with a credit card debt attorney.

Defense Of Lawsuit

If an individual has defaulted on payment of credit card debt, the credit card company might decide to sue the individual, after attempting to collect. As a credit card debt attorney, I will assist you in deciding if there is a defense of lawsuit if a credit card company files a lawsuit against you. Some common defenses of lawsuit are:

  • Identity theft occurs when an individual creates a line of credit using someone else’s name. If the debtor did not create the account, that person might be a victim of identity theft.
  • Improper service occurs when the debtor never actually received the summons and complaint. It also encompasses incorrect procedures taken when the debtor was served the summons and complaint.
  • The amount due to the creditor is incorrect or the debtor has not been credited for a payment made to the creditor.
  • Statute of limitations. There is usually a time limit during which a creditor can file a lawsuit.
  • The debtor was only an authorized user of the credit card in question.
  • The plaintiff is not the original creditor that the debtor made the original agreement with.

What Is Bankruptcy?

Bankruptcy helps relieve all or partial debt for businesses or individuals. There are two types of bankruptcy that individuals might file. One is Chapter 7 and the other is Chapter 13. Both forms of bankruptcy cease all legal actions coming from the creditor(s). Below is a brief explanation of each.

  • Chapter 7 or liquidation: The individual’s assets are used to pay down debt while the remainder of the debt is discharged.
  • Chapter 13 or payment plan: The individual submits a three-to-five-year payment plan to the court to repay all or partial debt.

Chapter 7 Bankruptcy

The debtor’s liquid assets are used to pay down most debt, while the rest of the owed debt is discharged by the creditors. Liquid assets are belongings that might be easily converted into cash. Federal law exempts some items to be used as liquid assets. All non-exempt items are turned over to the court to pay down your debt. It is best to talk to a bankruptcy lawyer to determine if you are eligible for Chapter 7 bankruptcy or if it is the right path for you personally.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows the debtor to reorganize their debt so that the debtor is paying down the debt and legal actions from creditors cease. A debt repayment plan is drawn up and submitted to the court. An individual will repay all or partial debt over a span of three to five years. Payments are made to a named trustee who in turn pays the creditors. A debtor might choose Chapter 13 bankruptcy if the individual does not qualify for Chapter 7 bankruptcy, has some disposable income, and would like to stop the possibility of foreclosure on the debtor’s house. The best way to determine if Chapter 13 bankruptcy is right for you and your situation is to call (914) 230-0040 for a consultation with a bankruptcy lawyer.

Call today for a Legal Consultation  (914) 686-3171

Should I file Chapter 7 or Chapter 13 Bankruptcy?Should I File Chapter 7 Or Chapter 13 Bankruptcy?

In order to qualify for Chapter 7 bankruptcy, an individual must pass a means test and receive credit counseling. If the individual does not pass the means test, Chapter 13 bankruptcy will be the other option. Both allow the debtor to keep some personal belongings. Consulting with one of the best debt settlement lawyers in the Yonkers, NY area will help you make the decision. Call (914) 686-3171 for a consultation today.

Call today for a Legal Consultation  (914) 686-3171

Glen A. Kurtis, P.C

Regardless of your legal matter, I am prepared
to work with you throughout the legal process
Call Us Now - (914)686-3171

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