Long Island Bankruptcy Attorney
Bankruptcy Offices throughout Long Island, New York
Long Island Bankruptcy Lawyer Law Firm Overview Attorney Profiles Bankruptcy Evaluation Form Contact Us
Bankruptcy Practice Areas
Long Island Bankruptcy
Alternatives to Bankruptcy
Bankruptcy Exemptions
Bankruptcy FAQs
Bankruptcy Law
Bankruptcy Overview
Consolidate Your Bills
Creditor Harassment
Debt Consolidation vs Settlement
Discharging Debt
Eliminate Your Bills
Filing Jointly
Foreclosure
Freezes On Your Bank Accounts
Is Filing Bankruptcy Right For Me?
Life After Bankruptcy
Loan Modification
Repossession
Tax Debt & Bankruptcy
The Jacoby and Jacoby Difference
The Means Test
Top Bankruptcy Myths
Types of Bankruptcy
Wage Garnishments
Why Hire a Bankruptcy Attorney
Your Bankruptcy Consultation
Bankruptcy Blog
Bankruptcy Videos
En Espanol
Bankruptcy Law

Alternatives to Bankruptcy

Financial Hardship


If you are struggling to find a way to get a handle on your debts, you should know there are options available to you other than filing for bankruptcy. While filing for bankruptcy is a viable option for some people, you need to determine what all of your options are and make a decision based on what is best for you. An experienced Long Island bankruptcy attorney at Jacoby & Jacoby can meet with you to review your situation to discuss which alternatives to bankruptcy would best suit your needs. If filing for bankruptcy turns out to be the best solution to resolving your debts, you can rest assured the attorneys at Jacoby & Jacoby will provide you with the experienced legal guidance you need throughout the bankruptcy process. However, there may be alternatives to bankruptcy you should not hesitate to take advantage of if they are better suited for your particular situation.

There are a number of possible alternatives to bankruptcy you can discuss with a Long Island bankruptcy lawyer at Jacoby & Jacoby:

  • Credit Counseling : Credit counseling is required for anyone filing for Chapter 7 or Chapter 13 bankruptcy. When you participate in a credit agency's debt management program, the agency will help you come up with a payment plan to repay your creditors. This is similar to the payment plan you may experience if you proceed forward with the Chapter 13 bankruptcy process. An advantage to a repayment plan through a credit agency is that a bankruptcy will not appear on your credit report. The disadvantage is that it does not protect you from creditor harassment if you were to accidently miss a payment.
  • Debt Consolidation : Debt consolidation works by consolidating all of your debts into one large loan. Instead of repaying multiple creditors, you now only have to make payments towards the one creditor who issued the large loan.
  • Debt Settlement : Debt settlement works by negotiating with your creditors. A debtor and his/her representative can negotiate with the creditors for a payment amount that is less than what is actually owed. The reason creditors agree to this is because they'd rather get paid some of the money they are owed rather than nothing at all. If you file for bankruptcy, it could take much longer for them to get their money.

If you are interested in learning more about some alternatives to bankruptcy, please do not hesitate to contact a knowledgeable Long Island bankruptcy lawyer at Jacoby & Jacoby today!

Comments

No Comments Posted
Click Here to watch our Bankruptcy Videos
Fill out the form below to email our law firm.
Leave feedback about our services here.
Bankruptcy Law Visit us on Facebook Follow us on Twitter
Bankruptcy Law
Long Island Bankruptcy Lawyer | Contact Us | Site Map | Privacy Policy

Attorney Web Design

We are a qualified debt relief agency. This is Attorney Advertising. The information on this website is for general information purposes only. Nothing on this or associated pages should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.