Legal Question in Bankruptcy in New York

Drowing in debt

Basically, my husband opened a jewelery manufacturing business back on 6/02. The business was a disaster and he was forced to close on the end of 6/03. Since 7/03 he's been out of business and all the credit cards thats under my name and his were basically used to either live off of or pay rent etc. Needless to say we have approx. 200,000 in unsecured debt between the 2 of us. We cannot in any way afford to pay any of it. We tried for 1 year until we couldn't anymore. Should I file under my name only? or should we file together? or simply just stay in limbo? 3 different lawyers I spoke to about my case told me that we have no hope essentially because bankruptcy trustee will see it as we abused our credit cards. I say we made some poor decisions, however, that is what we used to live off of. Is our life ruined forever?


Asked on 9/14/03, 8:50 pm

2 Answers from Attorneys
Neil Colmenares The Law Office of Neil E. Colmenares, P.C.

Re: Drowing in debt

It appears you were speaking to non-bankruptcy attorneys. There may be options for you and your husband. Intent is the key in these situations. What will be in your best interests depends on the answers to several questions that I must pose to you. Please call my office at 718-888-3108 to see if Bankruptcy is right for you.

Very truly yours,

Neil E. Colmenares, Esq.

718-888-3108

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Answered on 9/15/03, 8:43 am
Andrew Nitzberg Andrew Nitzberg & Associates

Re: Drowing in debt

In my opinion, the attorneys with whom you have spoken are not correct. I practice every day in Bankruptcy and I have had MANY clients act as you have acted and ALL have had their petitions approved.

Bankruptcy is intended to help people like you with financial problems. It is intended to help you get a 'clean slate' and relief from the anxiety imposed upon you by creditors and debt collectors.

I speak as an experienced attorney who does respect the Code of Ethics. Using the credit cards for personal expenses is a common event which will not disqualify you from bankruptcy relief. Even it the cards are 'Business Accounts' used for a personal purpose, this is not important. You may still file for bankruptcy and anticipate the court will approve your petition.

Don't let these people talk you out of an action that may help you establish a better situation and life for yourself.

You are welcome to a consultation for no fee at my offices at 42 West 44th Street, NY,NY. Please call for an appointment first. (646)591-5786 or (718) 729-2029

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Answered on 9/15/03, 11:41 am


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