Long Island Bankruptcy Lawyers

Bankruptcy Overview

All the time the people of Nassau & Suffolk people fall behind on their bills. Between cars, houses and credit cards many individuals and families accumulate debt they can’t get control over.  Sometimes unforeseen events such as medical problems, family emergencies, and unexpected illnesses can be detrimental to a person’s finances, even if they were in steady condition before the event occurred.  At Jacoby & Jacoby, we realize how easily a person can find themselves in debt and if you find yourself in a similar position we want you to know that you are not alone and there are ways we can help you.

Bankruptcy is a legal process in which a person declares inability to pay debts.  Consumer bankruptcy laws were created to give debtors a fresh start, and to pay creditors as much as possible without over-burdening the debtor.  With some forms of bankruptcy, any available assets will be liquidated and used to pay off creditors.  A person may declare bankruptcy under several different chapters of the federal bankruptcy code:  Chapter 7, which involves the liquidation of the debtor’s assets, or Chapter 13, which reorganizes debts so that the individual can pay off creditors over a set period of time. 

Experienced Bankruptcy Attorneys Serving Nassau & Suffolk

A Long Island bankruptcy attorney from our firm will examine your situation to determine the best way to approach your debts.  If Chapter 7 is the best option to resolve your debt, your lawyer will help you take the necessary steps to complete this procedure.  If your attorney believes Chapter 13 may work better for you, they will assist you in declaring that Chapter of bankruptcy so that you can begin to get a grasp on your finances.       

Contact a Bankruptcy Lawyer at Jacoby & Jacoby today to find out if bankruptcy is an option for you!