Bankruptcy Counseling Mineola 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 Mineola.

Local Companies

Robert Corey Berness
212-909-6148
919 3RD AVE
NEW YORK, NY
Netanella Tani Zahavi
1285 AVENUE OF THE AMERICAS
NEW YORK, NY
Joel A. Yunis
212-940-8666
520 MADISON AVE
NEW YORK, NY
Betty Weilan Gee
212-833-1171
51 W 52nd St
New York, NY
Andrew J. Schoulder
1177 AVENUE OF THE AMERICAS FL 19
NEW YORK, NY
Martin Earl Beeler
212-841-1023
620 8th Ave
New York, NY
Timothy Gerard Gallagher
212-701-3735
Eighty Pine Street
New York, NY
John Lawrence
516-746-6423
595 STEWART AVE
GARDEN CITY, NY
Richard James Bernard
212-589-4215
45 Rockefeller Plz
New York, NY
Zachary Tabor Axelrod
1633 BROADWAY
NEW YORK, 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
- Bankruptcy Myths Mineola NY
Filing for bankruptcy calls for a lot of courage. This is because the whole concept has been compounded with a lot of false information. It is at times difficult to know what is true and what is not.
- How to Get Credit After Bankruptcy Mineola NY
- Credit Counseling Mineola NY
- Involuntary Bankruptcy Mineola NY
- Debt Settlement Companies Mineola NY
- Credit Repair Self Help Mineola NY
- Consumer Bankruptcy Mineola NY
- Credit Card Debt Mineola NY
- Credit Counseling for Debts Mineola NY
- Choosing a Credit Counseling Service Mineola NY