At the Law Offices of Boris Nikhman PC we realize that life today, more than any other time, can be financially challenging to many individuals and married couples and it can become much worse from sudden, unforeseen events that occur, such as an accidents, illness, loss of job or even an unwise investment, such as the real estate market crash of 2008. When these events occur and there is a loss of liquidity, an increase in debt, or both, bankruptcy is often the only viable option. While many perceive bankruptcy as a last resort it can be a new beginning for individuals or married couples that have exhausted all resources while bills keep piling up and appear insurmountable (maybe use the word overwhelming, since not a lot of people may know what “insurmountable” mean).
For a New York Bankruptcy Attorney call us now at 646-727-5016
We will evaluate your special situation and recommend what is right for you
If you have a great deal of unsecured debt, such as credit cards, and are making only the minimum payments, you will be paying the debts off for many years. Once you fall behind, the collection calls will start, and your credit score rating, measured by your FICO score, will begin to plummet. Bankruptcy will, without question damage your credit score rating temporarily but it will stop the downward spiral of those missed payments and charge offs. The big difference is that after bankruptcy is discharged, you are essentially debt free or in an affordable program, depending on whether you filed Chapter 7 or 13. Staying with your mountain of debt for five, or more years will actually adversely affect your credit score for a longer period of time as you struggle to recover. Should another unfortunate turn of events occur in your future, and you will repeat the devastation all over again which will make you feel like your entire existence was spent paying off debts and never really living life as you wanted to.
We, at the Law Offices of Boris Nikhman PC, have been successfully helping residents of New York for years, helping stop the harassing phone calls that always come when you sit down for your evening meal. We will help you keep your home, your car and all your necessary possessions while eliminating the huge burden that you have been dragging around. The weight will be lifted and you will have renewed life with a fresh clean start.
Call us today or fill out the form on the Contact Us page of this site and we will arrange for you to have a no obligation consultation with one of our bankruptcy lawyers. He, or she, will analyze
your particular situation and determine whether Chapter 7 or Chapter 13 is right for you.
Although changes were recently made to the Federal Bankruptcy Code, and some people will say it is not a viable option as it once was, that is a falsehood and our experienced attorney will show you why it is still the best solution to regaining your life. It is not the end but the beginning of your financial security once again.