Bankruptcy Counseling Rochester 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 Rochester.

Local Companies

Samuel Paul Merlo
585-987-2835
2 STATE STREET 2 STATE ST STE 700 STE 700
ROCHESTER, NY
Mary Jo S. Korona
585-327-4112
16 EAST MAIN STREET 16 E MAIN ST STE 600
ROCHESTER, NY
Anthony Kearns Tama
212-701-3197
1100 UNIVERSITY AVE BLDG
ROCHESTER, NY
Mark K. Broyles
28 E MAIN ST FIRST FEDERAL PLZ
ROCHESTER, NY
Mikal John Krueger
585-232-3730
TWO STATE STREET 2 STATE ST STE 1600
ROCHESTER, NY
Caroline Spindler Whittemore
212-701-3171
1100 UNIVERSITY AVE BLDG
ROCHESTER, NY
David Lee Rasmussen
110 LINDEN OAKS
ROCHESTER, NY
Nancy Ann Pappal
1 CHASE SQ STE 1900
ROCHESTER, NY
Alexander Zeltser
212-701-3745
1100 UNIVERSITY AVE BLDG
ROCHESTER, NY
Michael J. Labue
1050 GRAVEL RD
WEBSTER, 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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