Bankruptcy
refers to the legal proceeding that involves a person or business unable to
repay outstanding debts. If you are looking to announce bankrupt your business,
there are certain rules and regulations to verify. This is a complete legal
format and without the help of a Bankruptcy Attorney Brooklyn NY one individual
can never proceed. Apart from many other complicated wings of bankruptcy,
payment plan is a major issue. Many of bankrupt people face the issue whether
they should go for a payment plan with their attorneys or not. Let’s try to
find out:
Yes,
there are certain advantages of getting into a payment plan with your Bankruptcy
Attorney Brooklyn NY. In certain cases, if the client is having a complicated
case which may warrants more than $1,500 fee the client has verified with
others that the case will cost this equivalent rate, it is better to go for a
payment plan with the attorney. Then the client will definitely be on a
favourable side. In such a situation, the attorney can accept all the creditors
call of the client while dealing with all hazards giving the client a complete
peace of mind. Before everything, the bankruptcy documents need to be prepared
first.
Payment
plan can be favourable for those clients who are having a windfall of income
within past 6 months. They need to wait for filing chapter 7 of bankruptcy.
There are certain rules to file chapter 7. The client has to show a below income statement for past 6 months
on the basis of household size. If the client is having any sort of income fall
in past 6 months, Experienced Brooklyn New York attorney may agree to take
creditor’s call on a payment plan basis. In certain cases, the payment plan can
be disadvantageous to the client. If the client is having wage garnishment,
foreclosure or a lawsuit, the client needs to file chapter 7 as early as
possible. In that case, the client needs to pay the fees in advance.
Mblawny targets to provide
reliable legal counselling and cost-effective legal solutions. Since its
inception, the firm maintain a high and competent quality of legal counselling
process. They have in their top priority to provide standard courteous
services. They have a dedicated legal team offering continuous support in terms
of personal as well as corporate cases. They try to assist their clients to the
best.
Law
Offices of Mark Bratkovsky, PC
(718)
891-0564
