Chapter 7 Bankruptcy

Debt Relief is Easier
than You Think

Has your financial situation become unmanageable? Have you lost your job or gotten in over your head with medical bills? Are you facing mountains of credit card debt you don’t know how to repay?

An experienced Chapter 7 bankruptcy attorney at Penachio Malara, LLP can help you to protect yourself and your family, restoring your peace of mind. We’ll go to bat for you, providing advocacy and representation with your creditors and with the courts.

What Is A Chapter 7 Bankruptcy?

The Chapter 7 bankruptcy, also known as a liquidation bankruptcy, is a means by which debtors are able to enjoy a fresh start. With the help of a Chapter 7 bankruptcy lawyer, you can eliminate most or all of your unsecured debt, although student loans, child support and taxes are non-exempt.

Compared to other bankruptcies, Chapter 7 bankruptcy is usually simple and straightforward. It costs less than other forms of bankruptcy and is a common solution for those with overwhelming medical bills, unsecured loans and credit card debt. Chapter 7 is the bankruptcy of choice for those without assets.

You are not required to turn over household goods, clothing, pensions, public benefits accumulated in a bank account, or personal injury damages. You may be allowed to keep motor vehicles up to a certain value and a portion of the equity in your home. However, you must surrender assets like cash, stocks, bonds, investments and bank accounts

How Do I Know If Chapter 7 Is Right For Me?

The U.S. Bankruptcy Code was amended in 2005, requiring those who file for Chapter 7 bankruptcy to qualify according to an income-based “means test.” Most consumers who were eligible for federal debt protection before this ruling still qualify for Chapter 7 today.

An accomplished lawyer can help you choose a bankruptcy option to best serve your needs. With almost 25 years of experience, the team at Penachio Malara, LLP offers professional counsel and knowledgeable representation. Let a Chapter 7 bankruptcy attorney from our firm help you get the financial relief you need, clearing the way for a brighter future. Call us now for a free consultation.

Local Areas We Serve

White Plains, Yonkers, Bronx, Scarsdale, Rye, Mamaroneck, New Rochelle, Mt Vernon, Bronxville, Hartsdale, Dobbs Ferry, Irvington, Elmsford, Tarrytown, Hawthorne, Mt Kisco, Bedford, Pound Ridge, New York, NY