BANKRUPTCY ATTORNEY IN NEW YORK

Bankruptcy Services

BANKRUPTCY ATTORNEY IN NEW YORK

Navigating through bankruptcy in New York, NY, can be a complex and daunting process. At Clemmons Law Firm, we specialize in providing expert legal guidance and representation in all matters related to bankruptcy law.

Governed by the federal Bankruptcy Code, bankruptcy law offers a legal pathway for individuals and businesses to manage or discharge their debts. With recent updates, such as the Small Business Reorganization Act, the process has become more streamlined for small businesses. Our experienced team is equipped to handle every aspect of your bankruptcy case, ensuring you receive the comprehensive support you need.

Bankruptcy ATTORNEY

Ideal for business organizations, Chapter 11 bankruptcy facilitates a partial repayment plan, allowing for the discharge of specific liabilities. It also enables the sale of assets or real property and the reduction of disputed claims, offering a fresh financial start while keeping the business operational.

Also known as “liquidation” bankruptcy, Chapter 7 involves the appointment of a trustee to sell the debtor’s non-exempt assets to pay creditors. This process can lead to the discharge of certain unsecured debts like credit card debt and medical bills. Eligibility for Chapter 7 is determined through a means test.

Chapter 13 bankruptcy is suitable for individuals who, despite not meeting specific income requirements, can adhere to a structured repayment plan over three to five years. It allows debtors to keep their property while managing their debts effectively.

The Clemmons Law Firm boasts extensive experience in representing debtors across various industries, including medical, construction, manufacturing, retail, and real estate. Our expertise in Chapter 7 liquidations and Chapter 11 reorganizations ensures tailored legal solutions.

We represent buyers in asset acquisition, guiding them through the competitive bidding process in Bankruptcy Court while ensuring compliance with all legal regulations and procedures.