Don’t be ashamed or embarrassed of your financial situation
Since 1961 the law office of Lanzet and Associates, PC has been helping individuals and families on Long Island and NYC get out of debt. Our compassionate and caring staff are here to listen to you and help ease the stress for you during this difficult time. Don’t be ashamed or embarrassed of your financial situation, schedule a free consultation with us now. We will determine whether bankruptcy is a viable choice for you. As there are several bankruptcy options, Chapter 7 and 13 being the most widely used, we will help you determine which is right for you. During your consultation we’ll analyze your assets, debts, expenses and income to determine how best to alleviate the stress and overwhelming nature of being in financial duress.
An Honest & Informative Law Practice
We Will Be Your Advocate.
We understand the worries our clients go through during this time and want to help make the process as easy and stress free as possible to help you attain a debt free life. We will be your advocate every step of the way providing personalized care and attention. Our staff will insure that your case is given the attention it deserves with most favorable results, putting a stop to harassing phone calls from creditors and/or getting you out of foreclosure. Upon meeting with you and discussing your finances we will give your our honest opinion on your best course of action helping you make an informed decision to eliminate debt and take control of your financial situation.
We take pride in seeing our clients go on to live a happy, debt free life.
Fresh, Debt Free Start
In as little as 3 months you can be breathing easy with a fresh financial start. Do not waste another minute worrying. Take the first step and come speak to an experienced bankruptcy attorney. Our staff can answer all your questions and concerns. Bankruptcy is here to help hard working people like yourself get back on track and back to a happy and healthy life with their families. Whether you are struggling with unemployment, medical bills, garnishments, foreclosure or credit card debt we are dedicated to helping you regain control of your finances and stop creditor harassment and lawsuits. We see people from all walks of life file for bankruptcy. Don’t feel ashamed or embarrassed to get the help you need. Take the first step in regaining control and recovering your financial stability by calling our offices now.
Life After Bankruptcy
We take pride in seeing our clients go on to live a happy, debt free life.
We want to ensure you do not find yourself back in this situation . We are here for you every step of the way including life after bankruptcy. We haven’t succeeded until you have!
After your bankruptcy process is complete we’ll help you to:
- budget your money and begin saving for your future. We take pride in seeing our clients go on to live a happy, debt free life. Bad habits are learned as are good habits.
- We will teach you how to create an action plan to begin building a strong foundation including savings and investment strategies. You’ll be on your path to rebuilding your credit and achieving the debt free life you dream of.
Our Way
Honest Communication, Clear Advice,
Smart Strategies
The Process of Filling for Bankruptcy
Give us a call The first step in the process is to call us at 631-494-3123 and set up an appointment for a phone consultation or in-office visit to discuss your case, or simply fill out the email request form and someone from our legal team will call you to set up an appointment.
Compile Documents If you want to see if you qualify for Chapter 7 Bankruptcy, compile the following documents so that we can run a means test: A recent credit report, 3 years tax returns and a completed “Bankruptcy Questionnaire” specifying all monthly expenses, income, assets and liabilities.
Take the Means Test A “means test” determines if your income is low enough to file for Chapter 7 Bankruptcy. You do not have to be penniless to file for Chapter 7 Bankruptcy relief. You may have significant monthly income and still qualify for Chapter 7. The means test prevents filers with larger incomes from filing for Chapter 7 by utilizing a formula which takes into account median incomes and expenses for the area of the country where you live. The means test deducts specific monthly expenses from your current monthly income to arrive at your monthly disposable income. Your current monthly income is the average income you have earned over the last six calendar months before filing for Bankruptcy. The lower the disposable income, the more likely you will be permitted to file for Chapter 7 relief.
The first step in the means test is to determine if your income is more or less than the median income in your county. If your income is less than the median income for a household of the same size in your county, you pass the means test and do not have to go any further. If your earnings are more than the median, you have to figure out if there is enough money left over, after subtracting certain allowable expenses, to repay some of the debt you owe.
If your income exceeds the county median, the means test gets more complex. You would next determine if there is enough income left over (“disposable income”) after paying the allowed monthly expenses, to pay a portion of your unsecured debts (such as medical bills or credit card bills.) If your disposable income is more than a certain amount, you fail the means test and cannot file for Chapter 7. Median income levels vary by household size and county. Every county has different allowed amounts for expenses such as basic necessities, housing and transportation.
Following the Means Test
File your Chapter 7 Bankruptcy Petition
Once you have passed the means test, the next step is to file your Chapter 7 Bankruptcy Petition with the Court and receive an index number identifying your case. Next, the Court will assign a date for your 341 meeting of creditors (usually 3-4 weeks after filing the petition). At the 341 hearing, any and all creditors are permitted to show cause as to why their claim should not be discharged and your petition is reviewed by a trustee under oath. The trustee will usually give an indication at the 341 meeting if he/she will recommend a discharge to the bankruptcy judge. Within 4-6 weeks after the 341 hearing you will receive a discharge notice from the Bankruptcy Court advising that your Chapter 7 Bankruptcy is complete.
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NEW YORK CITY
112 Madison Avenue – 6th Floor
New York, NY 10016
CENTER MORICHES
15 Frowein Road – Building A3
Center Moriches, NY 11934
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126 Carleton Avenue
Islip Terrace NY 11752