For over two decades the Law Office of Stephen Bilkis has been fighting for the consumers of New York facing financial difficulties. We advocate for clients in matters related to bankruptcy, foreclosure, and other consumer protection matters. From consumers struggling with credit card payments, to clients facing wage garnishment or frozen bank accounts, to homeowners behind on their mortgage payments and facing foreclosure, Stephen Bilkis and his team have helped clients obtain the debt relief so they can move forward with a fresh start. Understanding that the answer to a consumer’s financial problems is no always bankruptcy, we develop a custom solution for each client based on his or her particular circumstances.
Chapter 7 bankruptcyThe attorneys at the Law Offices of Stephen Bilkis & Associates have filed bankruptcy for multiple clients over the years, resulting in clients believe relieved of a substantial amount of debt. Chapter 7 bankruptcy is often called the “fresh start” bankruptcy because it allows people to reset their finance. In essence, the debtor must sell certain property to pay creditors. Ultimately, much of the creditor’s debt is forgiven. Dischargeable debt includes medical-related debt, credit card debt, pay day loans, utility bills, cell phone bills, and deficiency balances from foreclosures and repossession.
Chapter 13 bankruptcyRecognizing that Chapter 7 bankruptcy is not for every situation, some clients find the appropriate debt relief by filing Chapter 13 bankruptcy. With a Chapter 13 bankruptcy, collection activity stops and the debtor is permitted to pay his or her debt over a period of 3-5 years.
Chapter 11 bankruptcyChapter 11 bankruptcy is an option for business owners who are struggling financially. It allows the debtor to suspend their credit obligations. A Chapter 11 debtor typically retains control of their assets and possessions while their business undergoes restructuring. A New York bankruptcy attorney at the Law Offices of Stephen Bilkis & Associates can complete and file the necessary paper to commence the Chapter 11 bankruptcy process.
Debt ConsolidationWe understand the options that are available to someone who is struggling financially. Bankruptcy is not always the answer. We review each client’s situation and use our knowledge and skill to provide a solution that would best help the client get on the road to financial health. One such option is debt consolidation. Debt consolidation is the process of combining all or most of your debt through a debt consolidation loan. This allows you to make a single monthly payment that would be more manageable as compared to the payments that you were making for each individual bill. The goal is for you to be able to make the monthly payments on time and pay off the debt more quickly than you would have been able to pay it without consolidation.
Debt SettlementDebt settlement is another option that we help clients with. We will negotiate on your behalf directly with each of your creditors to reduce the amount you owe. With our keen negotiation skills we have had success in substantially reducing the amount of debts our clients were required to repay. As a result, they were able to much more quickly climb out of their difficult financial situations.
Difficulties associated with overwhelming debt are not limited to dealing with collection calls. Creditors may end up using even more aggressive tactics such as wage garnishment. Court actions by creditors may also lead to judgments against you. If you fail to appear in court for your case, the court will likely issue a judgment in favor of the creditor. One of the most painful results of financial problems is foreclosure. If you fail to pay the mortgage on your home, the bank holding the mortgage may foreclosure. Foreclosure is the legal process that allows the owner of your home loan, typically a bank, to sell your home and use the proceeds to satisfy the debt that you owe.
Debt problems are difficult on the entire family. We are have the knowledge, skill and resources to help you and your family get back on the road to financial health. Call us at 800.696.9529 or contact us online for a FREE consultation.