New York Bankruptcy Lawyer
Is Bankruptcy Right for You?
Filing for bankruptcy can be a very effective way of stopping debt collection harassment. Of course it also may be completely unnecessary, and is not always advisable. You should not file for bankruptcy just to stop the harassing debt collection calls. There are other ways to stop them. Bankruptcy certainly has its advantages, but it also may not be necessary for your situation. A New York debt collection abuse lawyer can review your finances, advise you as to your best options, and help you file for bankruptcy if necessary. One of the benefits of filing for bankruptcy is that immediately upon filing your case, the Court orders a “stay” (a freeze) of all attempts to collect a debt from you. This will generally get debt collectors to stop calling.
If you are eligible to file for bankruptcy, in some cases the bankruptcy court can completely eliminate large sums of unsecured debt. In other cases, where more income is available, the bankruptcy court can allow for a reasonable repayment plan that will not only get you out of debt but can substantially reduce the overall principal amount of the debt.
Of course filing bankruptcy has its downside. The two primary concerns is the loss of property you may have, and the impact on your credit report. Filing bankruptcy severely damages your credit report for up to 10 years. Certain jobs in the financial and security industry will look very carefully at an applicant who has filed for bankruptcy. Additionally, bankruptcy raises the possibility of losing the property you own. While bankruptcy is often a good option for a consumer, it should be considered carefully. It’s important to ask yourself if bankruptcy is necessary for you? Or can your problems be addressed without bankruptcy?
The Fair Debt Collection Practices Act
The Law Office of Joseph Mauro can help you stop the harassing debt collection calls, and may be able to obtain compensation for the harassment you have already suffered, without filing for bankruptcy. The Fair Debt Collection Practices Act allows you to sue harassing debt collectors for damages.
Generally, the consumer is not asked to pay any upfront fees or costs. If we agree to bring a case on your behalf the representation is generally handled on a contingency basis. The Fair Debt Collection Practices Act (FDCPA) includes a provision that allows a successful consumer to have the debt collector pay the consumer’s attorneys fees and costs.
