At The Law Offices of Amy Ghosh, you can entrust Amy in all of your debt relief and financial services needs. Amy uses his knowledge and experience to investigate the possibility of filing for bankruptcy protection or protecting the rights of creditors affected by another’s bankruptcy filing.  If you are in debt and are tired of the phone calls and harassing creditors then bankruptcy could be the answer for you.  Take the opportunity to review your financial circumstances with an attorney to determine whether bankruptcy will help you find financial freedom.

Debtor Representation

The Law Offices of Amy Ghosh helps individuals experiencing difficult financial times evaluate their options of filing for bankruptcy protection. Based on your eligibility, your options include bankruptcy protection under Chapter 7 (Liquidation) or Chapter 13 (Debt Adjustment).

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is by the far the most common type of bankruptcy and generally solves most, if not all, of your financial problems.  Once you retain an attorney, the phone calls will stop from harassing creditors and your stress levels will dramatically decrease. Rest assured, we will personally assist you in your case every step of the way. We will prepare pre-petition filings and represent you in court through the bankruptcy process.

Chapter 7 bankruptcy, also called “straight” bankruptcy, is designed to give you a fresh start on your finances. It eliminates most types of debt, and in return the bankruptcy trustee sells your nonexempt property in order to provide partial repayment to creditors. Luckily, most people have very little to no property that is not exempt, most Chapter 7 bankruptcy filers end up keeping most, if not all of their property.

Chapter 7 bankruptcy wipes out most types of unsecured debt. Unsecured debts are those debts which are not tied to property such as a like a home or car. Typical unsecured debts eliminated by Chapter 7 bankruptcy include credit card debt, medical bills, and gasoline card debt.

It is important to note, however, that some unsecured debt is nondischargebale in Chapter 7 bankruptcy absent some showing of extreme financial hardship beyond a typical inability to pay debts. These debts are not eliminated. Nondischargeable debts include those for child and spousal support, student loans, certain recent debts, debts incurred on the basis of fraud (such as lying on a credit application), and tax debts first due within the previous three years.

Chapter 7 bankruptcy should be seriously considered when you have mounting debt and your income is not enough to cover your expenses. Chapter 7 bankruptcy can be right for you and solve many of your financial problems very quickly.

How Does Chapter 13 Bankruptcy Differ From Chapter 7?

Chapter 7 bankruptcy is an asset-based form of debt relief in which your nonexempt assets are liquidated, or sold, by the bankruptcy trustee in order to pay creditors as much of what you owe as possible. By contrast, a Chapter 13 bankruptcy is income-based, meaning that your creditors will be paid what you can afford to pay based on your income, minus fixed expenses and a reasonable living allowance.

Under Chapter 13, debtors get the relief they need through reorganization of their debts and the creation of a three- to five-year repayment plan by which those debts will be paid in full or in part. At the end of this period, the balance of any remaining unsecured debt is wiped away.

Some individuals don’t qualify for either a Chapter 7 or a Chapter 13 bankruptcy, our bankruptcy attorneys can assist those debtors with an individual Chapter 11 bankruptcy filing.

Creditor Representation

The Law Offices of Amy Ghosh represents creditors in matters arising under Chapters 7 or Chapter 13, including:

  • Preparing and filing petitioners and proofs of claim on behalf of creditors and opposing objections thereto;
  • Filing motions for relief from the automatic stay imposed by bankruptcy to allow creditors to pursue possible foreclosures and repossessions;
  • Adversary proceedings against the debtor, such as complaints to deny a debtor’s discharge of certain debts.

Amy understands that the difficult times individuals and businesses are facing. We provide flexible payment plans, hybrid payments and flat-fee retainers.