Seeing families and businesses through tough economic times

The Basics of Bankruptcy

Easy-to-understand information from a skilled New York bankruptcy lawyer

There is much to know if you are considering filing for bankruptcy. Bankruptcy attorney Christiaan van Niekerk can help you determine whether bankruptcy is right for you and, if so, which chapter. He frequently represents clients in a wide range of debt relief proceedings, including Chapter 7 and Chapter 13 bankruptcy filings, in the U.S. Bankruptcy Court for the Northern District of New York and select other areas of the state.

Is bankruptcy right for you?

Filing for bankruptcy is a personal choice everyone must make given their own individual circumstances. You may want to file for bankruptcy if you:

  • Cannot make a realistic budget to get yourself out of debt within the next few years
  • Are dealing with a serious financial setback due to a health condition or sudden job loss
  • Are unable to pay more than the minimum balance owed on your credit card bill each month
  • Are at risk of losing your home or your vehicle

During your free consultation, Mr. van Niekerk can talk to you about your finances and help you determine whether bankruptcy is your best option.

Chapter 7 bankruptcy

Chapter 7 bankruptcy is the most common form of bankruptcy in the United States. It is primarily for individuals and families who pass New York's means test — a test that determines whether your income falls above or below the median income of your geographic area. In a Chapter 7 bankruptcy proceeding, you are able to pay off secured debts and discharge others upon the completion of your filing.

Chapter 13 bankruptcy

Chapter 13 bankruptcy is primarily filed by individuals and families who possess assets they wish to keep or whose incomes exceed the means test. It allows you to keep your property while paying off your debts during the course of three to five years under a court-supervised repayment plan. In this payment plan, a court-appointed trustee receives a monthly payment from you and divides the money among your creditors. Having a steady income is crucial to being able to file for Chapter 13 bankruptcy.

Debt relief made easy. Contact our firm for a free case evaluation.

Hiring a compassionate, knowledgeable bankruptcy lawyer greatly simplifies the process of filing for bankruptcy in New York. Christiaan van Niekerk helps clients fighting foreclosures, modifying loans and filing for bankruptcy in Schenectady and the surrounding areas. Reach out to us online or at 518.641.1626 to discuss your goals and how Mr. van Niekerk can help you.