Bankruptcy

Brooklyn Bankruptcy Lawyer Focused on Your Needs

One late payment turns to two. Suddenly, you are in a downward spin, being suffocated by your financial troubles. In addition to default notices and late fees, you are burdened with the credit card debts, medical bills, unsecured loans, and other eligible debts. With the help of an experienced bankruptcy lawyer, you can evaluate your options and get the legal help you need.

At the New York City law firm of Costello & Costello, PC, a knowledgeable bankruptcy law attorney will listen to your particular financial situation, explain the bankruptcy process, and help you determine if Chapter 13 or Chapter 7 bankruptcy is an appropriate course to get your finances back on track.

Chapter 7 Bankruptcy

While the focus for some people is on saving their home from foreclosure, other people are most concerned with getting a fresh start. For people who have not accumulated a significant amount of assets, Chapter 7 bankruptcy may be a better option.

Chapter 7 bankruptcy provides debt relief. At the completion of the Chapter 7 bankruptcy process, you will no longer have liability for credit card debts, medical bills, unsecured loans, and other eligible debts listed on your bankruptcy application. In exchange, some of your personal property may be liquidated by a bankruptcy trustee in order to pay off some of your debts. Our bankruptcy attorney can discuss if you are eligible for Chapter 7 bankruptcy, explain exemptions, and answer any questions you may have.  

Chapter 13 Bankruptcy

You've worked hard to get where you are today. Your possessions are more than just a house and personal property. It's your home and all the precious memories within. While you may currently be in dire need of bankruptcy help, you likely fear losing everything to bankruptcy liquidation. However, under Chapter 13 of the Bankruptcy Code, you can stop foreclosures and repossessions and you can keep your home and other property.

Chapter 13 bankruptcy enables you to regain control of your finances through a three- to five-year repayment plan in which you make one manageable monthly payment to a bankruptcy trustee, who will make payments to your creditors.

Our law firm also handles civil litigation involving debt collections.

If you have questions about filing for bankruptcy, e-mail our law firm. We will usually respond within 24 hours.

The law firm of Costello & Costello, PC has served clients from our Bensonhurst office at 59th Street and 20th Avenue since 1959. Contact us for a free initial consultation at our offices in Brooklyn, New Jersey, or Staten Island. We look forward to talking with you.