Horowitz Nathan ESQ

Information may not be reliable

1 Water Street, Suite 425 White Plains, New York (914) 684-0551

WELCOME TO FRESH START LAW
We provide Debt Relief through Bankruptcy. The United States Constitution guarantees a fresh start. We are a debt relief agency, as defined by the U.S. Congress. We proudly assist people filing for bankruptcy relief under the Bankruptcy Code.

The immediate benefit of any bankruptcy is the automatic stay (injunction) which comes into effect immediately upon the filing of the petition. With very few exceptions, all creditors, including governmental agencies, such as tax agencies, are stopped from proceeding against you at the moment the bankruptcy is filed. Even if an asset has been seized already, it may be possible to get it back.
Types of Bankruptcy:

This Chapter provides a complete fresh start. Your personal obligation to pay debts is discharged and you get what the law simply calls a fresh start. This directly relieves you of unsecured debts. These include regular credit card debts, medical bills, old utility bills, personal loans;In short, any debt not secured and not subject to special rules. There are a few exceptions, for debts which are non-dischargeable. more details

Based on the circumstances, an individual may opt to file a Chapter 13 proceeding. The main reasons are:

A house, condo or co-op in foreclosure
To save a non-exempt asset from being sold in a Chapter 7
To pay part or all of a debt which would be non-dischargeable in a Chapter 7

In exchange for stopping a foreclosure proceeding, or protecting a non-exempt asset, we would propose a plan under which you would pay a portion of your unsecured debts over time. The maximum plan is 5 years. Similar to a debt consolidation you make one payment to the Court appointed trustee and he then distributes the money to all creditors. Many people pay as little as five percent of their unsecured debts in their plan. Some people are required to pay 100%. more details

In general, Chapter 11 is for businesses to pay part of their debts and remain in business. Payment plan is proposed and approved by the Court. Individuals are eligible to file Chapter 11, however, only file if they face special circumstances. Chapter 11 is quite complicated, is labor intensive, and therefore very expensive. If an individual requires a payment plan type of bankruptcy, Chapter 13 is the usual alternative. more details