Bankruptcy Law

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Bankruptcy Law

Bankruptcy Law in Ulster, Dutchess, Greene, Orange, Columbia, Sullivan, and Putnam Counties

For residents who are facing large amounts of debt, understanding one’s options for gaining financial peace of mind is incredibly important. If you are struggling with debt, you should know that you have options available to you. One option may be filing for bankruptcy. If you have questions about filing for bankruptcy in Kingston, schedule a free consultation with a skilled Kingston bankruptcy attorney to learn more.

What Is Bankruptcy?

Bankruptcy is the court-facilitated process through which a debtor seeks relief from some or all of their debts. It’s important to understand that filing for bankruptcy is not a fix-all; while filing for bankruptcy can stop creditors from collecting debt and may discharge most or all unsecured debts, filing for bankruptcy also has consequences. For example, filing for bankruptcy will remain on one’s credit report for years to come, and can negatively impact the ability to get a loan, start a new line of credit, or even secure employment in certain industries. What’s more, depending on the type of bankruptcy that you file for, you may also have to give up assets in order to have your debts discharged.

Common Types of Bankruptcy

There are two primary types of bankruptcy that are used by individuals to wipe out consumer debts:

Chapter 7 bankruptcy

Chapter 7 bankruptcy is also called liquidation bankruptcy. In a Chapter 7 bankruptcy case, a person’s assets are liquidated. However, the truth is; that in the last 20 years of filing Chapter 7 Bankruptcies for my clients, not one has led to liquidation.

Chapter 13 bankruptcy

The other type of common bankruptcy is a Chapter 13 bankruptcy. Chapter 13 bankruptcy is designed for those who have enough income to pay off a portion of their debts over the next three to five years by entering into a repayment plan. One of the advantages of a Chapter 13 bankruptcy is that a debtor is more likely to be able to hold onto certain property types, such as their home.

There are also other types of bankruptcies, some of which are designed for businesses. For example, a Chapter 11 bankruptcy provides for reorganization, typically for a partnership or a corporation, to pay creditors back over time.

How a Bankruptcy Lawyer Can Help

Drowning in debt can be an isolating and terrifying experience. While you may feel hopeless, it’s critical to remember that you have options. By working with a Kingston bankruptcy lawyer, you can gain insight into what those options are and what the best course of action is for you. Our law firm can help you to understand whether filing for bankruptcy is the right choice and, if so, which type of bankruptcy to file for. We will represent you throughout the entirety of your case and advocate for your interests.

Schedule a Consultation Today

To learn more about your rights and options when your financial future feels forlorn, call a Kingston bankruptcy attorney to request a free, no-obligation consultation. An attorney can provide you with the support and guidance you need.

Business Bankruptcy

Just like individuals, businesses sometimes reach a point where their debt-to-income ratio is unsustainable. While businesses may have various options, including dissolving the business in order to pay off creditors, one option may be filing for business bankruptcy. A Kingston bankruptcy attorney with experience working with businesses can guide your company through the process and support your interests along the way.

Chapter 11 Bankruptcy

Businesses that are insolvent and facing a large amount of debt may need to consider filing for bankruptcy.

Chapter 13 Bankruptcy

If you have accumulated a large amount of debt but are still working and earning an income, one option for financial relief may be to file for a Chapter 13 bankruptcy.

Chapter 7 Bankruptcy

When you have accumulated tens of thousands of dollars of debt and aren't sure which way to turn or how you will ever escape the deep financial hole you're in, filing for bankruptcy may be an option.


Most consumers in America purchase large items, such as a vehicle or a home, with the help of a loan. And while a person may be bound to loan terms, falling behind on loan payments happens.