RICHARD S. FEINSILVER Attorney at Law Concentrating in the area of bankruptcy and real estate law FREE CONSULTATIONS Web, Phone or Office Offices in Kings, Queens, Nassau and  Suffolk Counties  800- 479- 6330

The events of the recent past have struck a severe blow to an already fragile economy. Each day, more and more individuals struggle to meet their day to day financial needs. This has placed an even greater strain on the definition of the “middle class” lifestyle.

The definition of a “middle class” lifestyle was never supposed to include the terms “struggling to make ends meet” or “overburdened with debt”. Many of us were brought up and told to seek the old fashion American dream - buy a house - have a steady job. No one could have ever predicted the financial instability that we have experienced in the recent past, and may continue to experience in the near term. People who were previously judged by their position and salary as being “financially successful” are now finding themselves struggling to get by each and every month, many times compensating for income shortfalls with credit cards, loans and lines of credit that deplete the equity in their homes.

In many situations, a point comes where the pressure begins to increase and questions arise:

• What will happen when you start to fall behind and your creditors are demanding payment?
  
• Must you lose your home once the bank has started a foreclosure action?
  
• Can your creditors seize your bank accounts or a portion of your paycheck?

Creditors can and will force the sale of your home, seize your bank accounts, or take a portion of your paycheck to satisfy your debts. If you are unable to work out a plan of repayment with your creditors, you may lose all that you have worked hard to accumulate. By taking timely advantage of the U.S. Bankruptcy Laws, these legal actions can be stopped, allowing you to save your home, savings, automobiles and personal belongings .

With few exceptions, immediately upon the filing of a bankruptcy petition, your creditors are prohibited from taking any further action against you. Even if your bank account has been frozen, or your salary has been attached, these actions must be stopped as soon as your creditor receives notice that you have filed for bankruptcy protection.

The web site has been designed to provide you with a user-friendly overview of the bankruptcy process and how it may be able to assist you in this difficult time. Please be reminded that the information contained on this site is only an overview. Each individual's needs and situations are unique. We are here to provide you with a free, confidential consultation to review and analyze your financial situation to determine which options may be right for you.