Bankruptcy – Did You Know?

New City Bankruptcy Law Firm

The Ugell Law Firm, P.C., wants you to be free from the overwhelming burden of debt that is hindering your family’s financial future. Call us at 845-521-7841 or contact my office in New City, New York, to arrange a free debt consultation.

Competitive Fees · Flexible Appointments · Se Hable Español

Did You Know?

  • In many areas of the Greater Hudson Valley you are allowed $150,000 of home equity value per-person in your primary residence and still keep your home through the bankruptcy process.
  • If you don’t have any equity in your home, you can have $5,000 of cash per-person and still file for bankruptcy without losing a dollar of your savings.
  • The Employee Retirement Income Security Act (ERISA) of 1974 qualifies retirement savings and investment accounts which are 100% exempt through the bankruptcy process. This means that no creditor can touch your 401(k), 403(b), IRA, Mutual Fund, Pension, Tax Deferred Annuity, and all other ERISA qualifying accounts, so talk with The Ugell Law Firm, P.C. before you think about withdrawing from your retirement accounts to settle any debts.
  • Bankruptcy court recognizes that in America, a vehicle for transportation is usually mandatory. It is extremely likely that you will be able to keep your vehicle through the bankruptcy process, and in many cases you may have the opportunity to obtain a new reliable vehicle prior to your bankruptcy that you can count on for years to come.
  • A bankruptcy filing will appear on your credit report only in a specific section reserved for Public Records Information for a time span of 7-10 years, however this in no way prevents your access to credit during this time. Bankruptcy will give your credit a fresh start, removing other negativity from your credit report, and allowing you the ability to rebuild your credit from the ground up. After bankruptcy, there is only one place for your credit to go: up.
  • When you file a bankruptcy petition, you are protected by an automatic stay provision which places a hold on all pending legal action, with few exceptions including domestic support obligations. Filing a bankruptcy petition can stop a money judgment from being ordered, a foreclosure judgment from being ordered, an eviction from taking place, a bank account from being seized, and immediately ceases all wage garnishment, pending the proceedings of the bankruptcy petition. This is an incredibly powerful protection than could help keep a roof over your head, and your money in your bank account.
  • Federal Bankruptcy Laws protect you immediately from your date of filing from harassing creditors. Once you file, it is a federal offense for any person or business to contact you for the collection of any debt without your expressed written consent. No more creditor harassment.

From my offices in New City, I represent families, consumers and small businesses, because that is who I am, and that is who I care about.I work to protect citizens in the Greater Hudson Valley area.. To arrange an initial consultation with an experienced attorney who cares about resolving your legal problem, call 845-521-7841 or contact my office by e-mail today.

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Associations & Memberships:
  • New York State Bar Association
  • National Association of Consumer Bankruptcy Attorneys
Rock County New York | Town of Stony Point | Town of Haverstraw | Town of Ramapo | Town of Clarkstown | Town of Orangetown

Ugell Law Firm, P.C.
151 North Main Street , 2nd Floor :: Suite 202 :: New City, NY 10956
Telephone: 845-639-7011 :: New City Law Office Map

Se Hable Español

Rockland County Bar AssociationMax Gardener's Bankruptcy Boot Camps | Lizmere South Mountain FarmNew York State Bar AssociationNational Association of Consumer Bankruptcy Attorneys