Legal Question in Bankruptcy in New York

Re: Bancruptcy

There are three types of bankruptcy applicable to individuals: chapter 7, chapter 13 and chapter 11. As a result of changes to the Bankruptcy Code in 2005, Chapter 7 liquidation is subject to means testing based on income. If your income is too high you may not be eligible for chapter 7. Chapter 13 wage earner repayment plans requires a regular source of income from a job or self-employment. It is also subject to debt limits. For chapter 13 you can't have noncontingent, liquidated unsecured debt greater than $307,675. Chapter 11 reorganization can be a very powerful restructuring tool, but is often too expensive an option for most individuals. The Court's filing fee alone costs $1,000 and chapter 11 has many procedural requirements so the attorneys' fees are considerably greater than in chapter 7 or chapter 13.

Check out the FAQs on our website for additional info. at www.starrandstarr.com/faq.htm. You should speak with a bankruptcy attorney ASAP regarding your options. Our phone number is on our website. Feel free to call for a free initial consultation.

Best regards,

Re: Bancruptcy

You may not be able to discharge the Debt if you are found to have committed Fraud in the Lawsuit.

You need to speak to a Bankruptcy Attorney Now.

Jacob Silver

Attorney At Law

26 Court Street

Suite 2511

Brooklyn, NY 11242

[email protected]

http://www.silverbankruptcy.com