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Bankruptcy Court Tax Litigation Lawyers

Are you in debt? If yes, what is your plan on getting out of debt? Getting yourself an attorney is a surefire way of climbing out of the abyss. The attorney will prepare and file your bankruptcy petition and advise you on the bankruptcy chapter to apply for, whether 7,11 or 13.

Why Should You File for Bankruptcy When in Debt?

Filing for bankruptcy is not an easy decision to make; it requires planning and adequate legal help because it’s a life-changing decision. As hard as it may seem, filing for bankruptcy can help you to climb out of a financial crisis if done right. Some of the benefits include:

  • You will save your home: if the equity stake is within the set threshold. If the stake falls within limits, your home will be safe from liquidation. Motor vehicles and household items will be exempted if they are within the limit.
  • Your privacy is respected: bankruptcy filing is a private affair; you will not be required to disclose the choice to anybody. You maintain your respect while trying to get yourself out of financial trouble.
  • You gain access to resources: There are plenty of resources for you if you file for bankruptcy; your community and online resources will help you through. Attorneys are the most vital; they will help you to prepare and file bankruptcy documents.
  • You get a fresh start: when you successfully declare bankruptcy. You will be able to start your life on a clean slate with the financial burden on your shoulder. With the bleeding stopped, you can focus on building up your credit rating.
  • You can acquire back your driver’s license: Unpaid debt from a Moto vehicle accident can result in the suspension of your driving license. When you declare bankruptcy, the debts will be written off, leading to the reinstation of your driving license.
  • Creditors will stop filing legal proceedings against you: When in debt, your phone may be blowing up due to numerous calls made by creditors. Legal action will take a toll on you. Once your bankruptcy petition is successful, a stay-on notice is issued to creditors barring them from contacting you.

Chapter 7 Bankruptcy Filing

 

  1. Preparation

Engage the help of your attorney when filing the bankruptcy document. Collect information about all your debts and creditors. Key them into the chapter 7 bankruptcy form using the proper filing format. The forms contain some instructions and terms that may be confusing if you do not have a legal background. That is where a seasoned attorney comes in handy.

  1. Filing

After finishing filing your petition, sign it form. Your attorney will also sign to pronounce that the preparations are complete. File the petition electronically while your attorney retains the original. Ensure you are served with a hard copy, and an electronic notification is sent to your creditors. Through this, the creditors cannot file legal proceedings against you or contact you.

  1. First Meeting

50-60 days after filing your petition, a meeting with a court-appointed trustee is set. The trustee represents your creditors; he or she will mull over your case to see whether any of your assets can settle some of the debt. Once you file a chapter 7 bankruptcy petition, all your assets fall under protection making this a formality. On rare occasions, exceptions may arise, and your attorney must step in.

  1. Discharge of Debt

If your case transitions normally, after 120 days since filing for bankruptcy, the court will grant you a discharge that frees you from all your debt. You can start afresh once the process is complete.

Chapter 11 Bankruptcy Filing

In the recent tough economic times, your business may go under bludgeoning debt. To save your drowning business, you can opt to file a chapter 11 bankruptcy petition. Through this, to will keep your business afloat while plotting on how to pay the debt. Some of the benefits are:

  • It enables your business to continue operating: The petition will allow you to reorganize your finances while restructuring the business’s debt.
  • It protects the company assets: Once the petition is successful, company assets will be immune to sale and liquidation: The business gains time to restructure debt and may transfer corporate ownership to creditors in some cases.
  • It gives corporate debtors time to offset their debt: Chapter 11 allows a debtor to spread the debts over some time.
  • It takes care of all corporate debt: Every debt owed will be discharged under chapter 11. The business can list all its debts.

Chapter 13 Bankruptcy Filing

You may be ineligible to file for chapter 7 bankruptcy due to having high asset equity or income, chapter 13 bankruptcy form may aid you. Commonly referred to as reorganization bankruptcy, it is effective for homeowners facing repossession and foreclosure.

To be considered for the chapter, you must meet the monthly post-bankruptcy payment while supporting your current lifestyle. It would help if you kept in mind individual debt cannot surpass the set statutory limit.

You must file the following documents to get a chapter 13 form:

  • List of your total liabilities and assets
  • Schedule of your living costs and monthly income
  • Financial statement
  • List of all your properties
  • List of monthly expenses
  • Credit counseling certificate
  • Total debt owed
  • Monthly living costs

Charle Butler
Charle Butler
2021-03-12
Verified
I was hesitant to hire the Spodek Law Group. I read reviews and knew they have a great reputation. However, I thought I would spend money and not see or speak to my attorney. From the beginning to end of my case Todd and the entire staff were available and willing to help. We worked towards and end result that was way above my expectation and Todd delivered. I am forever grateful for patience and long days and night spent working on my case. Thanks Todd and the entire team!
Mesonista parsons
Mesonista parsons
2021-03-05
Verified
My attorney at Spodek was Abigail. She was very knowledgeable and helpful with all my questions and concerns, as well as responsive. Her fees are affordable and Abigail took the time to make sure I understood everything relating to my case. I highly recommend Abigail and will request her services in the future.
debabrata chakraborty
debabrata chakraborty
2021-03-03
Verified
Todd A Spodek is the experienced and best criminal lawyer at USA. He is very professional and always respond on time. Alex also very cooperative and always help me. They took care me and my problem like family member. I am 100% satisfied for their professional service. My result was unexpected and amazing. They dismissed my case. I am really grateful to them. I will recommend you to go there if you want to solve your problem. I wish all the best for them.
Asata Hendricks
Asata Hendricks
2021-03-02
Verified
Truly appreciate the work the guys did!. Exceptional team & I know they care about each and everyone of their clients. I am super thankful to be referred to Spodek Law Group and I am grateful Todd & Alex were able to work diligently to achieve an outcome I am pleased with. Despite COVID they stayed on top of things and kept me informed every step of the way. Very thankful.
Mike Moroff
Mike Moroff
2021-02-26
Verified
I'm very satisfied with the services rendered by Todd, Alex and Mary Lou. I whole heartedly recommend Spodek Law Group . I've worked with and have retained other attorneys in the past with Todd's firm being the cream of the crop for many reasons. A very serious legal matter was resolved after a year's hard work and effort. Todd expertly guided me through the process and was able to navigate and make the good journey bearable as well as successful. Mary Lou initially provided excellent assistance before referring my case to Todd. Alex's support was effective and timely. The customer portal (MyCase) is an invaluable communication tool that also kept track of my case. Various aspects of my case were explained and there were several options provided but I made the final decision of how the case would be handled. The legal fee was reasonable considering the effort and amount of work plus it was a flat fee regardless of the length of time required to conclude my case. Todd made himself available to me and we had many scheduled meetings to go over the progress and to discuss the next steps. I felt more confident after many discussions with him. You will not go wrong choosing Spodek Law Group for legal matters.
Josh Katz
Josh Katz
2021-02-24
Verified
Being that it was the first time that I was in need of an attorney, I was afraid and hesitant and knew I needed the absolute best. It is beyond understood why Spodek Law Group has a reputation of being the top, if not the best law firm in New York. Alex and Abigail were there every step of the way even at the most unconvenient hours. I could not have asked for more. They are extremely good at what they do and they delivered much much more than just winning my case. A big thank you to Alex and Abigail for all the guidance and counseling and their upmost loyal support that extended far more than just legally. If you need the absolute best than don't hesitate to hire Spodek Law Firm.
L.C.
L.C.
2021-02-24
Verified
I cannot tell you how thankful I am to Todd and Alex for their hard work and dedication to my case. I had never been in any trouble before but I had an unfortunate event occur and in the midst of COVID-19 at that therefore I knew I needed a team that was dedicated to my success. Today- my case has been finalized and I’m walking away with no record and can continue life as a mother and a Grad student worry free. I cannot express enough gratitude for their assistance.
AnnMarie Soliman
AnnMarie Soliman
2021-02-23
Verified
I received a summons and called Spodek law group for a free consultation. Alex took my call and was very quick and responsive. He was available anytime through multiple platforms and very reassuring when needed. They are extremely organized and thorough. They got my case dismissed! I’m very grateful. Thank you Alex and Todd!

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Spodek Law Group have offered me excellent support and advice thru a very difficult time. I feel I've dealt with someone who truly cares and wants the best outcome for you and yours. I'm extremely grateful for all the help Spodek Law Group has offered me. I can't recommend them enough.

~ David Bruce

Spodek Law Group was incredibly professional and has given me the best advice I could wish for. They had been helpful and empathetic to my stressful situation. Would highly recommend Spodek Law Group to anyone I meet.

~ Rowlin Garcia

Best service I ever had. Todd is absolutely class personified. You are in the safest hands with spodek. They have their clients interest in mind.

~ Francis Anim

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Hear From Our Clients

"Spodek Law Group have offered me excellent support and advice thru a very difficult time. I feel I've dealt with someone who truly cares and wants the best outcome for you and yours. I'm extremely grateful for all the help Spodek Law Group has offered me. I can't recommend them..."

David Bruce

"Spodek Law Group was incredibly professional and has given me the best advice I could wish for. They had been helpful and empathetic to my stressful situation. Would highly recommend Spodek Law Group to anyone I meet."

Rowlin Garcia

"Best service I ever had. Todd is absolutely class personified. You are in the safest hands with spodek. They have their clients interest in mind."

Francis Anim
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