Dedicated Bankruptcy Services on Long Island, NY

Helping Clients Attain the Debt Relief They Need

If you’re considering filing bankruptcy, you are likely in an extremely stressful position. Financial adversity affects all aspects of our lives, wreaking havoc on our ability to properly enjoy life and fulfill our needs. If you have children or other dependents, mounting debt could threaten the wellbeing of your entire family.

Due to the stigma surrounding bankruptcy, you may have spent months or years avoiding this procedure at all costs. While bankruptcy is typically the last resort for many people, it is not as devastating as many would believe. In fact, bankruptcy serves as a path to a brighter future for countless debtors throughout the country. Congress created bankruptcy law to rescue those in severe financial distress, and, if it suits your situation, you deserve to take full advantage of this form of debt relief. At Robert H. Solomon, PC, we are ready to stand by your side from beginning to end.

Reasons to Consider Filing for Bankruptcy in NY

There are various reasons a person/family may decide to file for bankruptcy. The most common being losing a job and a large medical debt. Health problems make it impossible to keep your job, your options are either to be let go or quit.

There are many other reasons a person may want to file for bankruptcy. They include the following:

• You are getting/in the process of a divorce
• You are being sued by creditors because you were unable to make debt payments
• You are only able to pay for essentials using a credit card
• You are paying off a credit card amount by using another
• You are looking to withdraw from your 401(k) to pay your bills

See how our team can help you in your time of need by calling (516) 407-8199 today. 
Spanish services are available!

What Our Team Can Do for You

Bankruptcy is a legal procedure in which individuals and businesses restructure or discharge their debt. Typically, a federal bankruptcy court oversees the entire process and/or appoints a trustee to manage all arrangements. Depending on the type of bankruptcy you file, your creditors may or may not have a say in your plan. They will not, however, be allowed to continue any debt collection actions during the bankruptcy process.

While bankruptcy is an effective solution to monumental financial strain, you may not reap the benefits if you attempt to go through this process alone. Since 1990, our firm has guided clients through bankruptcy and assisted with all related issues. We have the experience, skills, and legal resources you need to minimize the risks and maximize the benefits of bankruptcy.

Come to Robert H. Solomon, PC for assistance with:

• Chapter 7 bankruptcy. Chapter 7 is a 4-6-month process that liquidates assets to pay creditors. If you have multiple high-value assets, you may lose these in the process. Most people who file Chapter 7, however, keep their possessions and discharge most or all of their debt. To qualify, you will need to pass a means test, which demonstrates whether you have a low enough income to qualify for relief.
• Chapter 13 bankruptcy. Rather than liquidating assets and discharging debt, Chapter 13 allows you to repay your creditors in 3-5 years. The court establishes a reasonable payment plan and discharges what your disposable income cannot cover in that period. Chapter 13 may be right for you if you don’t qualify for Chapter 7, you have a steady income, and/or you have valuable assets you want to keep.
• Understanding and navigating the bankruptcy process. Depending on the type of bankruptcy you file, the value of your assets, and the type of debt you owe, the bankruptcy process may require extensive preparation, step-by-step guidance, and in-court representation. Knowing exactly what to expect can help you take the steps you need to guarantee an effective and efficient bankruptcy process.
• Finding alternatives to bankruptcy. While bankruptcy is a powerful solution for many people, it may not be best for your situation. We can help you determine whether you could take advantage of other forms of debt relief. For every case, our goal is to provide highly personalized legal and financial counsel.
• Delaying or preventing foreclosure. When a homeowner falls behind on their mortgage, the lender may initiate foreclosure proceedings. This involves taking possession of the property, evicting the previous owner, and selling the home. Even if you are behind on payments or default on your loan, you still have options to delay foreclosure or prevent it entirely. We can help you develop the plan of action you need.

At Robert H. Solomon, PC, we believe you deserve relief from years of financial struggle. Let us help you find the path to a brighter future and a solution to what feels like a never-ending problem.

Local Bankruptcy Solutions for Long Island Residents

Living on Long Island, NY, comes with its unique financial challenges. The high cost of living and unexpected expenses can quickly lead to overwhelming debt. At Robert H. Solomon, PC, we understand the specific struggles our community members face and are here to provide tailored bankruptcy solutions that address these local issues.

For residents of Nassau and Suffolk counties, the local government offers various resources to assist those in financial distress. The Nassau County Department of Social Services and the Suffolk County Department of Social Services provide support programs that can help alleviate some of the immediate financial burdens. While these resources are invaluable, they may not be sufficient for those facing insurmountable debt.

One common pain point for Long Islanders is the threat of foreclosure due to missed mortgage payments. With high property values, losing one's home can be particularly stressful. Our team is well-versed in the local real estate market and foreclosure laws, enabling us to offer practical strategies to delay or prevent foreclosure, giving you the time needed to explore all available options.

Another significant concern is the impact of medical debt. Long Island has several renowned medical facilities, such as Northwell Health and Stony Brook University Hospital. While these institutions provide excellent care, the associated medical bills can be staggering. If you're struggling with medical debt, filing for bankruptcy may offer the relief you need to regain control of your finances.

At Robert H. Solomon, PC, we are committed to helping our Long Island neighbors navigate the complexities of bankruptcy. We know the area, understand the local economic pressures, and are dedicated to supporting you to achieve financial stability.

Call (516) 407-8199 or contact us online to begin your case as soon as possible.