When it comes to the bankruptcy processes, it can be difficult for individuals to understand the myriad of rules and regulations that are involved in the process. States have different rule-sets regarding the items and processes that must be followed, as well as what paperwork must be filed when, and general timelines of each step. That is precisely why the Spodek Law Group created an infographic that is set to help make the process easier to navigate the New Yorkers who work in the Chapter 7 bankruptcy process, which is the most common for individuals to file.
The difficult process is one that the Spodek law offices has assisted individuals with for years. The process may feel like an intensive and soul-crushing endeavor; however, beyond the cloud of shame and frustration is the ability to create a new start. Having the right attorney and representation to guide one through the process is key to successfully navigating the many checkpoints along the way to successful filing and a new beginning.
In Chapter 7 filing, a debtor must be granted, while a stay is placed on the individual while filing of pensions. That allows for a stay of the annoyance and abuses from creditors.
During the Chapter 7 process, liquidation from a trustee is handled for all non-exempt assets. The debts are dismissed, save for student loans, taxes, and child support during this process.
Proper representation then can help individuals through the ten common steps that follow to filing proper bankruptcy, including meeting with the attorneys, trustees, and filing appropriate documentation. Interviews and statements under oath are also required, and with good representation the process can be made as painless as possible in order to allow the individual to get on with their lives.
The infographic details the final step which is the requirement of finance management classes, and is accompanied by a discharge notice that allows for a fresh financial start.
Spodek Law Group hopes to give all needing individuals the fresh financial start needed. With many years of experience, the professionals at the law offices are eager to help.
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