Individuals & Sole Proprietors

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If you can no longer pay all of your debts, filing for bankruptcy can give you a fresh start.

Individuals can file either Chapter 7 (straight bankruptcy) or Chapter 13 (debt adjustment). In Chapter 7, many types of debt, such as credit card and medical debt, can be liquidated, i.e. eliminated. In Chapter 13, your debts remain, but the payment plans will change in order to make them more manageable for you. If you own a home or a car and are behind on the payments, Chapter 13 is generally a better choice than Chapter 7. In a Chapter 7 filing, mortgage and auto lenders have the right to take back your home and your car. Chapter 13 enables you to keep these assets while becoming current on payments.

If you are a sole proprietorship (DBA) you can file a bankruptcy case under Chapter 7, Chapter 11, or Chapter 13. The Trustee will look at the assets of both you and your business. You will be able to keep doing business as a sole proprietor even if you file for bankruptcy.

Our attorneys can determine whether bankruptcy is an option and skillfully represent you throughout the process. You don’t need to be crippled by debt anymore.

Fill out the form below or call us at 646-326-9971 for a free in-office consultation.