Chapter 7 Bankruptcy Attorneys in the Bronx

Over 50 Combined Years of Experience at Your Service: (718) 710-4111

Are you unable to keep up with your credit card debt? Have you grown tired of harassing phone calls from creditors? Do you have few assets and a limited income? Chapter 7 bankruptcy can provide you with a fresh financial start by eliminating a majority of your debt. By sitting down with our skilled and compassionate Bronx Chapter 7 bankruptcy lawyers, you can determine if this is an option that will work for you.

Why Choose Our Chapter 7 Bankruptcy Lawyers?

  • Decades of Experience on Your Side
  • Free & Confidential Consultation
  • Unique Solutions Tailored to You
  • One-on-One Interaction with Your Attorney
  • Your Case Is Never Passed Off to a Paralegal
  • Reasonable Rates & Payment Plans

At Park & Nguyen, we help our clients develop an individualized plan for debt relief. With more than 50 years of combined experience, our attorneys offer sound advice about bankruptcy eligibility and debt reorganization options.

To schedule a free phone consultation at our office in the Bronx, call (718) 710-4111.

What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is one of four main chapters in the United States bankruptcy code. This process is for individuals with few to no assets and an income that is at or below the federal median income guideline. These individuals must also be able to pass the bankruptcy means test.

In Chapter 7 bankruptcy, the proceeds from asset liquidation, or a sale of the debtor's non-exempt property, are used to resolve their debts. Any remaining debt balance is typically forgiven and the person is usually able to keep a car, home, and furnishings.

Do I Qualify For Chapter 7 Bankruptcy?

In order to be eligible to file for Chapter 7 bankruptcy, there are certain requirements that you as the debtor must meet. To determine eligibility, you’ll need to pass a “means test” to see where your income stands compared to your state’s median income level.

Chapter 7 Means Test

A Chapter 7 means test takes your monthly average income from the past 6 months before filing and compares it to the median income of a similar household in your state. If your income is less than the state’s median, you will automatically qualify for filing Chapter 7 bankruptcy. Though median incomes vary state to state, most applicants have no issue passing the means test since they already have financial issues and tend to be making very little money at the time of filing.

What if My Income is Above the Median?

In the event of you having a higher income than your state’s median, you still have a few options for filing Chapter 7 bankruptcy. Since the means test just weighs your income versus your expenses, you can follow through with completing the entire means test instead of trying to qualify based on your income alone. In the event you are left with no disposable income after subtracting allowable expenses from your income, you would be eligible filing for Chapter 7 bankruptcy.

For answers to frequently asked questions, please visit our Chapter 7 FAQ page.

Contact Our Bronx Chapter 7 Bankruptcy Attorneys

The Advantages of Hiring A Knowledgeable Lawyer

You may have seen advertisements for various document services willing to handle your Chapter 7 or Chapter 13 bankruptcy paperwork. While they may complete your documents accurately, they will not be by your side in bankruptcy court. They will also not be there to protect your best interests.

At Park & Nguyen, we offer support from day one through the completion of the process. We understand your fears and will provide you with solid advice, meticulous document preparation, and dedicated courtroom representation. Get the help you deserve to reach a fresh financial start. We offer reasonable rates and flexible payment plans to our bankruptcy clients.

Call us at (718) 710-4111 to learn more about your debt liquidation options.

Read What Our Clients Are Saying

Real Stories From Real People
  • “He made our ordeal easy and treated us with respect and made the process easier to deal with.”

    Maribel

  • “The staff is friendly, kind, and supportive, especially attorney Peter T. Nguyen.”

    C. Bond

  • “He helped me with the entire Process step by step.”

    Brenda

  • “He resolved my problem with efficiency and great professionalism.”

    Maritza

  • “Thank you so much for the alleviation of the burden over me.”

    Kitty

  • “Peter had handled her case and she was very pleased with the outcome after all her debts had been forgiven and now she is debt free.”

    Catherine

  • “They are a professional team that came highly recommended by a lawyer friend.”

    Margaret

  • “In the end, you will have a piece of mind.”

    Jose

  • “They helped me get my life together.”

    Kishea

  • “He treated me as more than another case number. I was treated as an individual.”

    Kevin

  • “A++++ Thank you for all of your services.”

    Maria

  • “Always returns phone calls no matter what time of the day it is.”

    Darwin

  • “I was very pleased with his and his staff's service.”

    Miriam

  • “I would recommend him to anyone!”

    Caroline

  • “THE BEST IN THE BRONX !!!!”

    Sonia

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