What is Chapter 7 Bankruptcy

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What is Chapter 7 Bankruptcy
- Firm Name: Mark E. Cohen, Esq.
  
  Duration: 01:32
  
  Date: 2021-07-27
  
  Chapter 7 Bankruptcy is a simple form of consumer bankruptcy that allows New York residents to liquidate non-exempt property to cover debt. Proceeds are distributed to creditors. With Chapter 7 Bankruptcy, you may be able to keep some of your property. Queens Chapter 7 bankruptcy attorney, Mark E. Cohen can help determine if you qualify for this option.

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How long does it generally take for a credit score to improve after New York bankruptcy?
- There are a lot of variables that will determine how long it takes to improve a person's credit score after bankruptcy. A Chapter 7 bankruptcy can take 10 years to complete and Chapter 13 last for 7 years. However improvement of your credit score often depends on your financial situation. So, it is best to consult with a New York bankruptcy attorney for more details. Find out more about how bankruptcy works
How long does bankruptcy last in New York?
- The duration of a bankruptcy in New York varies depending if you file a Chapter 7 or Chapter 13. It can last from several months to several years depending on the type. There are many benefits to each type. Consult Queens New York bankruptcy attorney Mark E. Cohen, Esq. to learn more about the types of bankruptcy and the the amount of time each will last.
How bankruptcy can help with debt issues
- Depending on your situation, there are different types of bankruptcy that can help lessen the stress of debts. Chapter 7 bankruptcy can help you get rid of many bills, where Chapter 11 or 13 will reorganize debt with a payment plan to pay over time. Contact New York bankruptcy attorney Mark E. Cohen to discuss the best option for you.
How do I file for bankruptcy in New York
- There are three types of bankruptcy that are most common. These are: - Chapter 7 - Chapter 13 - Chapter 11 Bankruptcy filings are completed in federal court and usually require certain fees. A Bankruptcy attorney can help you navigate this process as well as restructure your debt to get you back on your feet. Please contact Mark E. Cohen, Esq. if you need help filing for bankruptcy in New York.

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