Bankruptcy Counseling Niagara Falls 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 Niagara Falls.

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Eric Arthur Bloom
716-858-3719
6 N PEARL ST
BUFFALO, NY
Randy Howard Gugino
2140 EGGERT RD
BUFFALO, NY
Carolyn Rebecca Ruis Hoffmann
716-847-7006
1 HSBC CTR STE 1
BUFFALO, NY
Amy J. Vigneron
343 ELMWOOD AVE
BUFFALO, NY
Garry M. Graber
716-848-1273
140 PEARL ST STE 100
BUFFALO, NY
Michael Francis Chelus
716-852-3600
438 MAIN ST STE 1000
BUFFALO, NY
Peter Andrew Muth
140 PEARL ST STE 100
BUFFALO, NY
Andrew Joseph Romanow
716-853-2343
268 MAIN ST STE 201
BUFFALO, NY
John Kennedy Rottaris
465 MAIN ST STE 600
BUFFALO, NY
Michael Francis Barrett
716-856-3646
37 Franklin Street, Suite 900
Buffalo, NY
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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.


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