When a person or business is completely overwhelmed by financial obligation and can no longer meet them - often by no fault of their own - the law provides that they can find a way out through bankruptcy.
Bankruptcy is governed by federal law. Bankruptcy matters are heard in a federal court. Different types of bankruptcy include Chapter 13 debt repayment plans, Chapter 7 debt discharge plans, or Chapter 11 reorganization plans.
A New York bankruptcy lawyer can help his or her client navigate this difficult legal proceeding.
NACBA serves the needs of consumer bankruptcy attorneys and works to protect the rights of consumer debtors.