Chapter 7

Chapter 7 Bankruptcy Lawyers in Westchester County

Lenders whose customers go bankrupt are of course, affected themselves. Banks, small businesses, corporations, credit unions, professional associations, and private lenders have a right to recover as much of what is owed to them as possible. Even though an individual or business has filed for protection under Chapter 7 of the Bankruptcy Code, a creditor may employ certain strategies to protect their collateral and or secure full or partial repayment of the debt.  Hire an attorney with experience in this area to maximize your recovery and take advantage of opportunities and rights available to you.

Unlike Chapter 13, which sets out a three to five year plan of repayment, Chapter 7 is "fresh start" bankruptcy, in which assets of the debtor are liquidated, many debts are discharged and final payment is made to creditors.

Secured creditors will generally have any collateral returned to them. If the debtor does not have enough money to repay in full, these creditors will be grouped with other unsecured creditors for the balance of the claim. Unsecured creditors receive notification that Chapter 7 bankruptcy has been filed and they must file a claim in the event there are funds left for them.

At the Tarrytown, New York, and Mahwah, New Jersey, law firm of Mitchell Pollack & Associates, our Chapter 7 bankruptcy attorneys provide full-service representation to businesses and financial institutions in Chapter 7 bankruptcy claims. Contact our offices to schedule a consultation to discuss your bankruptcy needs.

We also assist clients in Chapter 13 bankruptcy. In all cases, our goal is to help make sure that clients collect as much of their claim as possible in a bankruptcy proceeding.

Representing Creditors

Our vast experience in Chapter 7 and Chapter 13 Bankruptcy work can benefit our creditor client.

Call Today for a Confidential Consultation: 1-866-400-7388