Bankruptcy Lawyer Near Albany, Ny Discusses Chapter 7

The bills are piled high, creditors are calling and you are worried if your mortgage company is about to foreclose

. Not a pretty picture but one that can be remedied. With so many individuals facing a growing crisis of too much money at the end of the money the prospect of rectifying the situation can seem daunting. But there are options and it is important to seek help from trusted professionals.

At The Francisco Law Firm, we offer years of bankruptcy experience. Your first step toward a better financial future happens when you walk in the door.

The first thing we do when someone comes in the door is ask them What brings you in? It gives the client the opportunity to get everything off their chest and for us to educate them on what options are available. Whether it is trouble paying the mortgage, unmanageable credit card or medical debt, we quickly get to work to develop the emerging picture and work toward setting our clients on the road to a positive financial future. The prospect of bankruptcy can affect anyone and stretches across all demographics. We know our clients didn't ask to be divorced, or to face the loss of a loved one. They didn't ask for their company to downsize, close or move out of the area.

There are two options for bankruptcy for individuals, Chapter 7 that wipes out existing debt, and Chapter 13 that creates an affordable repayment, restructuring plan. However, there are some debts that cannot be wiped out including student loans, child support and back income taxes. These can be addressed through Chapter 13 Bankruptcy through the restructuring plan.

Following basic questions like what debt is involved, debt to income ratio and whether any assets are involved, The Francisco Law Firm can educate the clients as to what options are available. Secured and unsecured debt are also discussed. Many are surprised to learn that no matter how dire the situation it may not be as bad as the client may think. I had a guy come in that was sure he was going to lose his home and everything he had worked hard for, says Attorney Francisco. But after the initial interview the client soon realized that he would be able to keep his home and with our help was able to file bankruptcy and look to the prospect of a better financial future.

Every case is different. Just because someone else may not be able to file doesnt mean you cant. Each case follows the same basic interview and information gathering process. The most important thing to do if you are experiencing financial difficulties is to contact a professional. Ignoring the signs and waiting too long can make the process more challenging.

We take the time so you can make an educated and informed decision about bankruptcy. The initial one hour consultation to analyze the situation is free of charge with no obligation. Based on the information gathered during that interview we can let you know whether Chapter 7 or Chapter 13 Bankruptcy is your best option.

Clients are given a packet to fill out and told what forms and information needs to be collected for the process to move forward. Once a client returns the packet and all of the paperwork is in order, and a retainer has been paid bankruptcy proceedings can begin. As soon as we get this we will get to work for you to help you get your fresh start.

If you are facing financial difficulties, or are considering bankruptcy contact us at The Francisco Law Firm for your free consultation. We are located at 17 Market Street, Amsterdam, New York and our phone number is 518-843-3300. Our website is www.franciscolaw.com.

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