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Bankruptcy Attorney
New York City

Bankruptcy Attorney

Lawyer NYC

Filing a bankruptcy petition automatically suspends all existing legal actions. Our bankruptcy attorneys at NYC are here to help you with any of your debt, insolvency, and bankruptcy issues.

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Bankruptcy Law

Passionate; Experienced Bankruptcy Attorneys.
Determined To Help You Today.

Bankruptcy is a legal proceeding for individuals who cannot repay their outstanding debt. Filing a bankruptcy petition suspends all existing legal actions. Our bankruptcy attorneys at Gehi & Associates located in New York City are here to help our experienced team handle debt, insolvency,  bankruptcy, and more to help you with any legal battle. In regards to bankruptcy, the law is very complex. You need an experienced lawyer who can understand your case and provide strategic and practical advice. With two decades of experience in this area, Gehi & Associates has helped many businesses and individuals resolve their bankruptcy matters. Call  1-718-263-5999 or connect with us directly with WhatsApp, and let’s set up your appointment.

Expert Legal Team Supporting Debt Negotiations and Settlements.

Get debt relief with our professional and expert consultation services. If you can no longer afford to pay creditors, you may need to speak with a bankruptcy lawyer to understand your options. At Gehi and Associates, we assist you in understanding your rights under the bankruptcy procedure and provide you with proper legal advice.

Bankruptcy Lawyers

Terser Baron

Terser Baron

Paralegal /Operational Manager

Years of Experience: 22 years
Education Qualifications: Associates & Paralegal Certificate.

Liquidation Under the Bankruptcy Code

Chapter 7 Bankruptcy

Chapter 7, bankruptcy, also known as liquidation, is the fastest and most commonly used type of bankruptcy. It is best for unsecured debt such as personal loans, credit cards, or medical bills. Liquidation under Chapter 7 is a common form of bankruptcy. It is available to individuals who cannot make monthly payments toward their debts. Businesses choosing to terminate their enterprises may also file Chapter 7. Chapter 7 provides relief to debtors regardless of the number of debts owed or whether a debtor is solvent or insolvent. Contact Gehi & Associates and let our legal team start your case today to take full advantage of the bankruptcy laws and get a fresh start.

Chapter 11 Bankruptcy

What is Chapter 11 bankruptcy?

  • Chapter 11 bankruptcy is a business reorganization plan, often used by large businesses to help them stay active while repaying creditors.

Individuals whose debt exceeds the maximum limit for Chapter 13 also file Chapter 11. To take full advantage of the bankruptcy laws and get a fresh start, Gehi & Associates will ensure your legal strategies have the best outcomes at the forefront of our legal strategy.

Gehi & Associates Bankruptcy Lawyers New York City

Our staff speaks the following languages: English, Spanish, French, Creole, African, Hindi, Bengali, Urdu, Gujarati, and Punjabi.

We Handle Bankruptcy Cases Throughout The U.S..
Contact Us for All Your Complex Bankruptcy Matters.

Proudly Providing Bankruptcy Legal Advice & Strategies for Chapter 7, Chapter 11, Chapter 13, Wage Garnishment.

Our Bankruptcy Lawyers, Are Here To Help You.

We use our experience to provide you with a specific solution for your case, which offers you the most chance to succeed. Our full-service Bankruptcy team is ready to assist you today with all legal matters; get expert legal help with Chapter 7, Chapter 11, Chapter 13, Wage Garnishment.

Our team of Bankruptcy attorneys can assist you in simplifying your legal process. Contact us now to book a free in-personal, phone, or virtual meeting to discuss your legal options.

Almost any person or company that owns property in the United States or who has a permanent residence or business here can file for Chapter 7 bankruptcy. However, you must meet several criteria before you’re eligible for a discharge. This order wipes out qualifying debt, one of which you will not be allowed to use Chapter 7 bankruptcy if you have been released from bankruptcy within the last six to eight years. Depending on the type of bankruptcy you filed or if, based on your revenue, expenditures, and debt burden, you may complete a Chapter 13 repayment plan.

To file for Chapter 7 bankruptcy, you must petition within bankruptcy court. Bankruptcy filings will ask you to describe:

  • Your home
  • Current income and your monthly living expenses.
  • Any debt property, which you claim by statute, allows you to stay in bankruptcy by Chapter 7 (called “exempt property”)–most states allow you to keep some equity in your home, clothing, household furnishings.
  • Leftover social security payments you haven’t spent.
  • Other necessities owned and spent over the past two years.
  • Properties sold or given away during the previous two years.

Most states will allow you to keep some equity in your home, clothing, household furnishings, social security payments you haven’t spent, and other essentials such as a car, tools, property sold or given away in the last two years.

Chapter 11 bankruptcy should read as such:

Chapter 11 bankruptcy is designed to enable companies struggling to restructure their finances and maximize their creditor’s and owners ‘ returns.

Filing a petition in bankruptcy court starts the Chapter 11 bankruptcy process. The cases are generally voluntary. However, the debtor must take the initiative in a voluntary Chapter 11 situation, seeking bankruptcy protection. Occasionally, creditors will band together against a defaulting debtor to file an involuntary Chapter 11 lawsuit.

Many debtors file Chapter 11, where they have their principal place of business. Business debtors can also file bankruptcy where they are “domiciled”-that is, incorporated or otherwise structured. For example, companies incorporated in Delaware often file bankruptcy there rather than their home states.

Even though the debtor may continue business after it files Chapter 11, it loses its authority in effective decision making to the bankruptcy court. With that, the bankruptcy must also approve the following:

  • Any sales of assets, including properties; Excluding items such as goods sold by a retail debtor in the ordinary course of business.
  • Entering into or breaking the lease of real or personal property mortgages or other secured financing arrangements enables the debtor to borrow money after the case has been closed or expanded.
  • Contracting or amending union, distributor, insurance, and other contracts and agreements.
  • Maintaining and paying fees and expenses to attorneys and other practitioners.

The bankruptcy court agrees that the proposal is viable and formulated in good faith once the creditors have approved a reorganization plan (either the company’s plan or a rival plan). Confirmation of the agreement removes the business from its old debts, but the company is bound by the agreement to make payments to its creditors.

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Bankruptcy Law is complex and can be overwhelming. At the Law Office of Gehi & Associates, we can help make sense of it all and work aggressively to resolve your legal issues. Contact us, let our Bankruptcy Lawyers start your case today!