Bankruptcy & Foreclosure

Are you overwhelmed with debt and constantly hounded by creditors that you can't afford to pay? Or, are you a frustrated business owner unable to collect payment for your goods or services? Either way, you may need legal representation. D'Angelo & Hashem have experience representing both consumers and businesses in bankruptcies and foreclosures.

If you are a consumer . . .

• We can analyze your situation to see whether or not you qualify to file for bankruptcy - and which kind of bankruptcy.
• We can file all of the required bankruptcy paperwork, making sure your rights are protected and you end up with the best possible results, enabling you to make a fresh start.

If you are a creditor…

• We can help you collect the money you're owed.
• We can protect your interests in cases where you're owed money by people or businesses who have filed for bankruptcy.

FAQS

Will I lose everything if I file for bankruptcy?

No, not usually. These days, individuals who file for bankruptcy are allowed to keep certain types of property, up to a certain value, no matter how much money they owe. These "exemptions" are kept out of reach of creditors and can help you make a meaningful new start.

What's the difference between a Chapter 7 and a Chapter 13 bankruptcy?

Chapter 7 bankruptcies are generally reserved for individuals with no disposable income or no regular income with which to repay it. In a Chapter 7 bankruptcy, all of your non-exempt property gets turned over to a court-appointed "trustee", who liquidates it to pay off your creditors.

A Chapter 13 bankruptcy, often referred to as the "wage-earner's plan", allows individuals with a regular income to repay all or part of their outstanding debt over an extended period of time (usually three years, but definitely no more than five).

In both cases, it is imperative that you be honest and truthful about the extent of your debt and your property.

What is a "discharge" in bankruptcy?

Once your bankruptcy is settled and your creditors are paid, your case will be discharged, which means you can no longer be held personally liable for the debts that were outlined and settled in your case. Creditors can no longer communicate with you in any form or try to collect on those debts. However, keep in mind that if a creditor had taken a lien on a specific piece of your property to pay a debt and the lien was not made unenforceable by the court, the creditor can still enforce the lien to recover the property and pay off the debt you owe.

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