Bankruptcy Counseling Hilton NY

Bankruptcy is a legally declared situation in which a person is unable to pay debts as required by creditors. A petition is filed either voluntarily or involuntarily. Read on to get more bankruptcy counseling in Hilton.

Local Companies

Lorenzo Napolitano
585-232-4724
1 E MAIN ST
ROCHESTER, NY
Caroline Spindler Whittemore
212-701-3171
1100 UNIVERSITY AVE BLDG
ROCHESTER, NY
Paul Stephen Groschadl
585-987-2828
2 STATE STREET 2 STATE ST STE 700 STE 700
ROCHESTER, NY
Arthur B. Archambeau
311 S WASHINGTON ST
EAST ROCHESTER, NY
Alexander Zeltser
212-701-3745
1100 UNIVERSITY AVE BLDG
ROCHESTER, NY
Daniel Francis Zimmerman
212-701-3777
1100 UNIVERSITY AVE BLDG
ROCHESTER, NY
Jason Peter Verhagen
1577 RIDGE RD W
ROCHESTER, NY
Robert J. Kalb
1 CHASE SQ STE 1900
ROCHESTER, NY
Kevin John Burke
212-701-3843
1100 UNIVERSITY AVE BLDG
ROCHESTER, NY
Meghan Marie Lynch
1 WASHINGTON ST S STE 100
ROCHESTER, NY
Data Provided by:
  

Provided By:

Bankruptcy Counseling

Author: Peter Gitundu

Bankruptcy is a legally declared situation in which a person is unable to pay debts as required by creditors. A petition is filed either voluntarily or involuntarily. This means that the debtor who has accepted the situation may decide to go to court and file a financial distress petition, or the creditors may choose to file the petition against the debtor.

For the petition to be accepted by the courts, one is required to file, alongside the petition, a recent financial statement showing how they have been fairing financially. Once the debtor has filed the petition and has handed in the required documents, the court appoints a trustee whose duty is to monitor the proceedings of the case. The debtor will now be required to go through bankruptcy counseling immediately after filing the petition.

The petition will be nullified by the court if the debtor does not produce a certificate from an approved agency to show that he has been counseled on financial matters. After the first insolvency counseling session, the debtor goes through one last session which lasts for two hours. The sole aim of this last session is to remove any guilt that the debtor may be carrying and to also equip them with tools of avoiding this situation in the future.

The work of the agency is therefore to guide the debtor on areas they might have gone wrong in the past and identify possible ways of avoiding these pot-holes. The last bankruptcy counseling session is normally carried out in groups. The debtor may also prefer to do this via Internet or through phone conversations. Finally the counselor is to give the debtor a certificate on completion of the two sessions.


About the Author:

Peter Gitundu Creates Interesting And Thought Provoking Content on Finance. For More Information On How To Deal With Bankruptcy, Read More Of His Articles Here DEALING WITH BANKRUPTCY If You Enjoyed This Article, Make Sure You SUBSCRIBE TO MY RSS FEED!

Article Source: http://www.articlesbase.com/personal-finance-articles/bankruptcy-counseling-920523.html

Related Articles
- Consumer Bankruptcy Hilton NY
It is important for anyone who is going through some form of financial hardships to be informed of some of the changes in the financial distress petition. This is especially important if you are considering going to court over the same.
- How to Get Credit After Bankruptcy Hilton NY
- Choosing a Credit Counseling Service Hilton NY
- Credit Counseling for Debts Hilton NY
- Credit Card Debt Hilton NY
- Credit Counseling Hilton NY
- Debt Settlement Companies Hilton NY
- Involuntary Bankruptcy Hilton NY
- Bankruptcy Myths Hilton NY
- Credit Repair Self Help Hilton NY