Bankruptcy Counseling Peekskill 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 Peekskill.

Local Companies

Timothy G. Holden
914-332-0700
150 WHITE PLAINS RD STE 310
TARRYTOWN, NY
Paula Elaine Kay
11 MAIN ST
CHESTER, NY
Olav Antonie Haazen
914-749-8386
333 MAIN ST
ARMONK, NY
Alan G. Merkin
845-634-3775
254 S MAIN ST
NEW CITY, NY
Total Bankruptcy has a participating attorney in White Plains
(866) 525-2557
One Water Street
White Plains, NY
Sophia Annmarie Rutty Esq.
914-584-7641
45 KNOLLWOOD RD KNOLLWOOD TOWERS
ELMSFORD, NY
Annette Louise Guarino Esq.
212-417-4209
45 KNOLLWOOD RD KNOLLWOOD TOWERS
ELMSFORD, NY
David Scott Hall
50 MAIN ST
WHITE PLAINS, NY
Harold J. Johnson
914-368-7273
1 N BROADWAY WHITE PLAINS PLAZA
WHITE PLAINS, NY
Rita K. Gilbert
45 KNOLLWOOD RD KNOLLWOOD TOWERS
ELMSFORD, 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
- Credit Counseling for Debts Peekskill NY
There are many companies and even banks that offer credit counseling. It is nothing but a form of debt consolidation that is available to anyone. Credit counseling is a much better alternative than filing for a bankruptcy. In consumer credit counseling, plans and budgets are prepared that are to be followed to slowly clear off all the debts.
- Consumer Bankruptcy Peekskill NY
- Debt Settlement Companies Peekskill NY
- Credit Card Debt Peekskill NY
- Involuntary Bankruptcy Peekskill NY
- Credit Counseling Peekskill NY
- Credit Repair Self Help Peekskill NY
- Choosing a Credit Counseling Service Peekskill NY
- How to Get Credit After Bankruptcy Peekskill NY
- Bankruptcy Myths Peekskill NY