What if you can’t afford to pay creditors? Do you file for bankruptcy?

creditorsWhat Can Filing for Bankruptcy Do for You 

If you have fallen behind and can no longer pay your creditors, it can be overwhelming. If you simply cannot afford to pay your debts any longer, you should hire a lawyer to discuss your options and avoid financial ruin. If you are in need of a bankruptcy attorney in Brooklyn NY, visit the Ursulova Law Offices for a consultation today.  

What Bankruptcy Can Do for You  

Filing for bankruptcy is not for everyone. This is why consulting with a Brooklyn law firm about debt issues before you do so is so important. However, if you have exhausted other options, filing for bankruptcy may be your best option.  

Bankruptcy allows individuals suffering from debt they can’t afford to start over. Bankruptcy is different for certain financial obligations, with things such as loan payments and properties being treated differently. If you would like to know which financial obligations bankruptcy can and cannot take care of, it is best to consult a Brooklyn bankruptcy attorney for specified information on your bankruptcy filing. If you are in need of a bankruptcy lawyer in Brooklyn NY, contact the staff at the Ursula Law Offices for a consultation.  

Wipe Out Certain Debts  

Bankruptcy is a great option for getting rid of debts that you cannot pay. However, bankruptcy cannot wipe out all of your debts. Even debts that cannot be wiped out by bankruptcy typically, can become an exception in specific circumstances. If you have a debt, you aren’t sure can be addressed by filing bankruptcy contact your local Brooklyn bankruptcy lawyer to see if your circumstances or debt would qualify for a wipeout.  

Debts that can be wiped out include credit card debt, mortgages, automobile loans, medical bills, business loans, personal loans, and other types of debts. Unfortunately, if you must get rid of debt such as a car loan or mortgage, you will not be able to hold on to those items anymore. This means you will have to relinquish either your car or home back to the lender. All forms of property that have been procured via a voluntary loan must be paid in full or forfeited. Other debts, such as credit cards, can be wiped out in full.  

Mortgage Foreclosure  

There are certain options that can actually prevent a mortgage foreclosure when filing for bankruptcy.  Stopping a mortgage foreclosure will not wipe out the debt, but prevent a lender from foreclosing on a property due to missed payments. This means you will still owe on the property but will be able to make a plan that will allow you to pay when your finances are in better shape. To properly file your bankruptcy and prevent a foreclosure contact a local, and effective bankruptcy lawyer. If you are in need of a bankruptcy lawyer in Brooklyn NY, look no further than the Ursulova Law Offices.  

No More Harassment from Collections  

When you file for bankruptcy, court officials will file a motion for an automatic stay, which stops many debts collector calls, lawsuits, and wage garnishment activities. Bankruptcy cannot stop all calls. Debt collectors can still call for support payments. Bankruptcy also has no precedence over criminal cases.  

How Can a Brooklyn Bankruptcy Law Firm Help Me File for Bankruptcy? 

You can actually file for bankruptcy yourself, however, it is not recommended for certain cases. If your household income is lower than the state median, and you only owe on debts that can be easily discharged, you may not need a lawyer to file for bankruptcy. Individuals that own property, are facing fraudulent charges, or if your income is at or below the state median, you should hire a lawyer to assist you with bankruptcy filing and representation in court.  

Bankruptcy attorneys have the knowledge and expertise to ensure our assets and finances are protected in these situations. Filing for bankruptcy is typically the last result and consulting with a bankruptcy lawyer before you file, will help ensure you are doing it correctly and for the right reasons. If you are in search of a Bankruptcy law firm in Brooklyn NY, visit the Ursulova Law Offices for a consultation request today.  

Ursulova Law offices, P.C.

Contact Ursulova Law Offices, P.C. to find out how our NY Bankruptcy Attorneys can help you today. Our offices are located in New York, Brighton Beach, Brooklyn and Garden City.


  • This field is for validation purposes and should be left unchanged.