I believe in keeping my clients informed and educated about the various bankruptcy procedures and laws that may affect them directly.  Please feel free to review the articles below for more information and contact me to arrange a free consultation about your unique circumstances.

Chapter 7 Bankruptcy

This informative title on Chapter 7 bankruptcy includes the Advantages and Disadvantages of Chapter 7, the alternatives to Chapter 7 bankruptcy, and a discussion of the Means Test used to determine eligibility to file Chapter 7 bankruptcy.

Chapter 13 Bankruptcy

A Chapter 13, or wage earner bankruptcy, gives you the opportunity to pay off debts according to a court-approved payment plan over a period of three to five years. The major benefit of a Chapter 13 bankruptcy is that you can keep all of your non-exempt property (typically a home and car. Contact the Law Offices of Eric Sherwood for free bankruptcy consultation in their Syracuse NY office.

Debt Consolidation vs Bankruptcy

Neither debt consolidation nor credit counseling provide legal protection that comes with a bankruptcy filing. With a consolidation or counseling approach your creditors may still pursue available debt collection methods against you, sue you in court for the debts you owe, and call you and making harassing demands for payment. Contact Syracuse NY Bankruptcy Lawyer Eric W. Sherwood, Esq. for free consultation to discuss the differences.

Your Rights in Bankruptcy

Once your Chapter 7 or 13 Bankruptcy petition is filed with the bankruptcy court and automatic stay immediately is place which gives you the right to free from continued creditor harassment and calls. Contact Syracuse NY Bankruptcy Lawyer Eric W. Sherwood, Esq. for free consultation to discuss other rights you have in bankruptcy.

The Bankruptcy Process

The process of filing for bankruptcy begins with assessing your financial situation and includes taking consumer credit counseling, deciding to file chapter 7 or 13, attending a meeting of the creditors. Contact Attorney Sherwood for a free consultation about what to expect during your bankruptcy.

Exempt Property in New York State

The Bankruptcy law is federal but the federal law looks to the state law for the bankruptcy exemptions. Here is a list of the property that you will be able to keep after filing for bankruptcy in New York State.

Ending Creditor Harassment

The "Automatic Stay" is one of the major benefits of filing for bankruptcy because it provides immediate relief from calls and harassment by creditors. The instant your petition is filed with the bankruptcy court, federal law prohibits all further creditor action against you.