The decision to file for bankruptcy should never be taken lightly.  When debt is overwhelming, Bankruptcy is a means to take back control of your financial future. For more 30 years, Robert A. Schwartz has been a debt relief lawyer offering bankruptcy assistance to the residents and business of the Rochester, NY, area.

Here Attorney Schwartz and his team walk you through the basics of filing for bankruptcy:

• Figure Out How Much You Earn Each Month and Prepare a Budget.  Also, Calculate What You Owe and What you Own: Gather your bills and add together all your outstanding balances. Make a list or inventory of your assets.  Often times all of your assets will be exempt in Bankruptcy so you will able to keep them.  If you are unable to pay your debts because because your income remaining after payment of your living expenses is insufficient, bankruptcy may be a viable option for you.
• Consider What Type Of Bankruptcy Is Best: Chapter 7 bankruptcy eliminates the majority of your debt, while Chapter 13 bankruptcy restructures it into a manageable payment plan. Chapter 7 is most appropriate for those who do not have the means to pay back the debt, now or in the foreseeable future. Chapter 13 is suitable for individuals with a significant and steady income and who have the ability to pay a significant portion of their debt. Chapter 13 can also be used to pay mortgage arrears and stop pending foreclosure actions.  Attorney Schwartz will help you determine the type of Bankruptcy best suited to your situation.

• Figure Out If You Qualify: Not just anyone can walk into a courthouse and file bankruptcy papers. You must meet certain income guidelines and qualifications. For example, those filing for Chapter 7 must pass a means test, which weighs your income against your debt and deduces whether or not you are legally eligible to file.  All assets must be disclosed and all property which is exempt must be claimed as such.
• Hire An Attorney: Your best bet for a legally sound and hassle-free bankruptcy is to hire an experienced bankruptcy attorney to represent you. Attorney Schwartz works closely with each and every client to find the most effective solutions. His approach is personable, nonjudgmental, and consummately professional.

Call Robert A. Schwartz at (585) 334-4270 or visit his firm online to schedule a free bankruptcy evaluation. Whether your credit card debt is out of control, you're facing home foreclosure or wage garnishment, or you just can't get back on your financial feet, let Attorney Schwartz go to work for you. Call today to get the answers you need.