Thinking about filing for bankruptcy in Long Island?

There are a number of reasons you  might consider going down the path toward filing for bankruptcy. Perhaps creditors are filing lawsuits against you, or have already won them and are garnishing your wages. Maybe collection agencies are calling your house night and day, and you're sick of it. Whatever the case may be, Long Island residents have a partner ready and willing to guide them through to the other side.

Michael F. Kanzer & Associates, P.C. has been helping clients file for and move through the bankruptcy process since 1994. Whether it is Chapter 7 or Chapter 13, our attorneys stand ready to answer your questions and help you find the relief you're searching for. If you're from Long Island or Brooklyn, give us a call today at 718-769-7200.

Bankruptcy Attorney for Long Island, NY

If you're a resident of Long Island in New York, you may have a plethora of attorneys to choose from when planning to file for bankruptcy. But who can you trust to put you first? The answer -- Kanzer & Associates.

Michael F. Kanzer & Associates, P.C. has helped Long Islanders file bankruptcy and discharge their debts for over 10 years. If your debts are creating hardships for your life, filing bankruptcy can help you clear or repay some or all of what you owe, so you can get back to living life without the harassing calls from creditors, and the past due notices and credit collection letters coming in the mail.

Give Kanzer & Associates a call today. A Long Island bankruptcy attorney you can trust to help you put your debts in the rear view mirror and turn your life around.

Avoid Credit Cards this Holiday Season

Christmas comes later next month and, for some, the ritual of running up a large credit card tab and spending the next year paying it off feels necessary. In this economy, however, and in the wake of changes to the Bankruptcy Abuse Prevention and Consumer Protection Act, we suggest re-thinking this strategy.

According to the new rules, debts to a single creditor totaling more than $550 for luxury goods or services can't be discharged in a bankruptcy. Should you find yourself in a tough spot after the holiday season -- so tough that you're forced to declare bankruptcy -- you might not be able to discharge credit card debt you've rung up for Christmas purchases. If you've accumulated thousands of dollars in Christmas credit card debt, you'll be paying it back no matter what.

Instead of relying on your credit cards this holiday season, instead try to save up enough money to do your Christmas shopping, or look into making your own gifts. The potential trouble over-spending could cause you down the line is not worth it.

Smart Christmas Spending

The holiday season is one that brings joy to the hearts of many. It's a chance to see and spend time with loved ones, eat cookies, drink hot cocoa and exchange gifts.

For some, however, this same season can be an extremely stressful period of time.

The pressure to purchase gifts for everyone can take its toll, and in some cases, can cause people to spend more money than they can possibly afford. They ring up astronomical credit card bills and spend themselves completely dry. Christmas shopping can become the catalyst that sparks an eventual bankruptcy, if you aren't careful.

Here are a few tips on how you can avoid holiday over-spending and eventual financial issues.

1. Establish your holiday shopping savings early and contribute to it throughout the year.
2. Buy gifts during the year, even when you're nowhere near Christmas.
3. Set a limit for your Christmas shopping.
4. Don't bring your credit cards. This forces you to shop only with the cash you've saved.

How to Take a Positive Approach into Bankruptcy

Bankruptcy can be seen as a low point in the life of the filer, but it shouldn’t be. One should think of the low point as being the event that has forced one into filing for bankruptcy, like illness or the loss of a job. If you’re filing for bankruptcy protection, you should see it as a fresh start, since this is the reason bankruptcy was first created.

The bankruptcy process gives the debtor the chance to clear away many overwhelming debts, freeing up income for secured debts like a mortgage. When discharged from bankruptcy, the petitioner will find less hassle from creditors.

If someone has filed because of an illness, divorce or unemployment, the last thing he or she needs is stress from collection agencies. To most of these folks, however, the filer is just a name, number and collection amount. However, debt collectors work everyday with people in default, so they become hardened.

If you switch your mindset from looking at a bankruptcy filing as a low or looking at yourself as a failure to seeing the process as a fresh start, you can let the filing take away a lot of stress. Let your bankruptcy lawyer help you remove the negative images you might associate with it. If you’re filing for bankruptcy, don’t think of it as a negative. Think about the fresh start it will provide and new hope you will have.

Should You File for Bankruptcy?

“Should I file for bankruptcy?” It’s a common question many are asking themselves, especially in these tough times. However, the answer can only be answered by the person who is thinking about filing for bankruptcy protection. Bankruptcy was designed to protect individuals and business from their creditors and discharge eligible debts, and after this discharge is entered by the court, the parties can go on without being burdened by debt and lead a productive life. Essentially, bankruptcy is able to provide one with a fresh start.

So, should you file for bankruptcy? First, you’ll need to weigh the positives and the negatives, and then make the soundest financial decision. When it comes to overburdening debt that has you thinking of filing for bankruptcy, there are no easy answers. You should meet with a bankruptcy attorney to discuss your income, expenses and assets to determine the best course of action, whether it’s Chapter 7 bankruptcy, Chapter 13 bankruptcy or not filing at all. Each option comes with its own sets of rules: Chapter 7 is to completely discharge all your debts, while Chapter 13 reorganizes them to make it easier to pay them down.

At the end of the day, the decision for file for bankruptcy is a personal one that must be made by the filer, and should not be taken lightly. How the party goes about the process depends on income, expenses and assets, and these are all different, which is why it’s important one seeks the advice of a competent bankruptcy lawyer.

Need to get in touch with a bankruptcy attorney in Brooklyn? Contact the experts at Kanzer & Associates by visiting www.KanzerLaw.com.

Bankruptcy: Don’t Let Credit Card Debt Overwhelm You

If you’re constantly in the financial red because of credit card bills, then filing for bankruptcy might be an option to consider. It can help many persons in similar situations, but before you phone up the first bankruptcy attorney you find, you should know about the benefits and disadvantages to filing for bankruptcy because of credit card debt.

Advantages

• You can learn sound financial tips that can help you in the future.
• You will be able to get out of debt in a fast manner.
• You can stop harassing creditors from constantly calling you.

Disadvantages

• You will not be allowed to use your credit cards and not be able to apply for new cards for a while.
• You will have to attend credit counseling classes in order to obtain certificates of financial education.

You have the ability to file the paperwork yourself, but you should contact a bankruptcy lawyer. If you need a bankruptcy attorney in Brooklyn, then get in touch with the experts at Kanzer & Associates by visiting www.KanzerLaw.com.