We Are The Bankruptcy Experts. Get A Fresh Start Today!
If you are facing financial challenges that seem overwhelming, it is important to understand that you are not alone. We work with more than a thousand clients every year just in the Queens & Long Island area who are facing crushing debt, foreclosure and a financial situation that seems completely unmanageable.
REQUEST A FREE CONSULTATION.
In a free consultation, Mr. Solomon will review your situation, answer your questions and recommend a strategy for you. This may involve a Chapter 7 bankruptcy that eliminates credit card debt, medical bills and other unsecured debt. Or you may qualify for a Chapter 13 bankruptcy that reduces or eliminates your debts by creating a debt repayment plan. Under certain circumstances we can even get rid of your second mortgage.
YOU DESERVE A DEBT FREE FRESH START.
We have had over 40 years of experience helping thousands of individuals to explore their options with their creditors; either through negotiation, modification, workout or bankruptcy. We have the experience to ask the right questions, so that we can guide you through these options and answer all of your questions.
Bankruptcy Process
Learn how the process of filing for bankruptcy works and what to expect.
Bankruptcy Process
Learn how the process of filing for bankruptcy works and what to expect.
Plan Your Bankruptcy
Learn how to prepare for a successful & advantageous bankruptcy filing.
Life After Bankruptcy
Get expert tips on rebuilding your credit & your finances after bankruptcy.
Means Test
Get professional help completing the Means Test for Chapter 7 bankruptcy.
Foreclosure Defense
Discover options for preventing foreclosure and keeping your home.
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Types of Bankruptcy
There are a number of different types of bankruptcy that apply to various types of financial circumstances, both personal and in business. It's important you fully understand the differences before filing a bankruptcy for debt relief.
Chapter 7 Bankruptcy
Chapter 7, also called "liquidation" or "straight bankruptcy," is the process by which a debtor's assets are sold, creditors receive payment, and you are released from the obligation to pay the debt.
Chapter 7 is the most popular form of bankruptcy because it allows debtors to keep certain kinds of assets (exempt property) while agreeing to allow the trustee to liquidate others (non-exempt property).
Chapter 11 Bankruptcy
Chapter 11 procedures are more restrictive than Chapter 7 but are well-suited for business owners who have accumulated excessive debt.
A Chapter 11 bankruptcy application allows you to keep your businesses going and keep vital business assets. These plans reorganize debts so that a portion of the old debt is paid back, but the business continues to operate.
This category of bankruptcy often involves higher costs for the petitioner, however, so a consultation may be critical for making a careful evaluation of Chapter 11 is suitable for your business prior to filing an application.
Chapter 13 Bankruptcy
Individuals and couples who can count on a steady stream of income to support their bankruptcy application should consider a Chapter 13 bankruptcy filing.
Instead of wiping debt off the books, such as in a Chapter 7 procedure, Chapter 13 petitioners agree to pay back a portion of their existing debt which prevents them from having to relinquish their assets to the trustee.
Under Chapter 13 bankruptcy you can usually expect to keep much of your property while discharging most of your accumulated debt. It will also halt foreclosure and seizure actions by creditors.