Established Syracuse Bankruptcy Law Firm Helps Clients Deal with Overwhelming Debt
Skillful attorney helps residents of Upstate New York find financial relief
Facing insurmountable debt can be both stressful and embarrassing, leading many to believe they have nowhere to turn, but bankruptcy may be a viable option. This form of debt relief can help people and businesses regain a firm financial footing. At Whitelaw & Fangio, in Syracuse, we treat each client with the respect and professionalism they deserve, helping individuals and companies determine if bankruptcy is the right option for their circumstances and guiding them through the process that meets their needs and goals.
Responsive counselor advises clients on their debt relief options
There is no single approach to debt relief. Our law firm customizes recommendations to suit your needs. Often, the process begins with an exploration of the problems that led to your difficult financial situation. If bankruptcy is not the best choice in your situation, our pragmatic attorney can identify alternatives such as mortgage modification or can negotiate with creditors on your behalf, which can help you avoid the courtroom while restoring your financial health.
Knowledgeable advocate offers comprehensive bankruptcy guidance
If alternative debt relief solutions aren’t an appropriate choice, our lawyer will help you determine whether bankruptcy can work in your situation. We will perform a debt analysis that considers your debts, income, assets and expenses and then recommend the type of bankruptcy filing for your situation.
Our law firm takes a personalized approach to bankruptcy. You can expect to have all of your questions thoroughly answered and your concerns addressed with compassion. We’ll help you understand what to expect from the bankruptcy process, what your role in it is, and how bankruptcy will affect your future, including your credit score.
Trusted law firm helps clients determine which chapter to file
There are multiple types of bankruptcy for individuals and businesses outlined in the U.S. Bankruptcy Code. Our lawyer will explain why one of the following may be appropriate for you:
- Chapter 7 bankruptcy — Chapter 7, known as liquidation bankruptcy, may be an option for individuals who aren’t concerned with keeping a home. Chapter 7 filers must meet strict income eligibility requirements under a means test. In this type of bankruptcy, a trustee sells some of your nonexempt assets to repay part of the debt, and your remaining debt is discharged. You can keep certain personal items, such as vehicles, clothing, household goods and furnishings considered necessary for living.
- Chapter 11 bankruptcy — Chapter 11, or business bankruptcy, is debt reorganization for sole proprietors, corporations, and partnerships. It restructures the debt to allow the debtor to pay it off while continuing to operate the business.
- Chapter 13 bankruptcy — Chapter 13 is debt reorganization for individuals who have steady incomes and can make regular payments. It allows debtors to pay off restructured debt over three to five years. Debtors keep their property, and any remaining dischargeable debt is eliminated after the repayment period ends.
Our law firm can help you file for any of these bankruptcy options quickly to initiate the automatic stay, which prohibits creditors from contacting you or conducting any collections efforts, giving you some much-needed peace of mind.
Contact a trusted Syracuse law firm for a free bankruptcy consultation
Whitelaw & Fangio, located in Syracuse, helps New Yorkers find debt relief through bankruptcy and alternative means when appropriate. To schedule a free initial consultation, call us at 315-401-4176 or contact us online.