Introduction
Financial struggles can be overwhelming, leaving individuals and businesses burdened with mounting debt, creditor harassment, wage garnishments, and foreclosure threats. For many, filing for bankruptcy offers a fresh financial start and legal protection from creditors. Figeroux & Associates, located at 26 Court Street, Suite 701, Brooklyn, NY 11242, is a trusted law firm that specializes in helping individuals and businesses resolve debt issues through bankruptcy and other financial solutions.
The firm promotes its expertise with the slogans:
✔ “Drowning in Debt? We Can Help! Top NYC Bankruptcy Lawyers. Get a Fresh Start Today. Call Now!”
These messages highlight their commitment to assisting clients regain financial stability. With a team of experienced bankruptcy attorneys, they provide tailored solutions for debt relief, bankruptcy filings, and creditor negotiations. Their website (www.askthelawyer.us) and helpline (855-768-8845) offer easy access to legal assistance for those struggling with debt.
This article provides a detailed analysis of the firm’s bankruptcy services, legal strategies, and impact on clients seeking debt relief.
Understanding Bankruptcy and Debt Relief
The Reality of Debt in America
Millions of Americans face financial distress due to:
✔ Job loss or reduced income
✔ Medical bills and unexpected expenses
✔ High-interest credit card debt
✔ Business failures
✔ Divorce-related financial burdens
When debts become unmanageable, filing for bankruptcy can provide legal protection and relief by either discharging debts or creating structured repayment plans.
Types of Bankruptcy Filings
Bankruptcy is not a one-size-fits-all solution. Depending on the financial situation, individuals and businesses can file under different bankruptcy chapters:
- Chapter 7 Bankruptcy (Liquidation Bankruptcy)
✔ Ideal for individuals with overwhelming unsecured debt (credit cards, medical bills, personal loans).
✔ Assets may be liquidated to pay creditors, but exemptions protect essential property like homes and cars.
✔ Typically completed within 3-6 months.
- Chapter 13 Bankruptcy (Debt Reorganization)
✔ Best for individuals with steady income who want to keep their assets.
✔ Allows for a structured repayment plan over 3-5 years.
✔ Protects against foreclosure and repossession.
- Chapter 11 Bankruptcy (Business Reorganization)
✔ Designed for businesses struggling with debt but wanting to remain operational.
✔ Allows for debt restructuring while continuing business operations.
✔ Helps avoid business closure and mass layoffs.
- Chapter 12 Bankruptcy (For Family Farmers & Fishermen)
✔ A specialized form of bankruptcy for family-owned farms and fisheries to restructure debts while continuing operations.
The Bible & Bankruptcy
The emotional impact of bankruptcy is profound, with many individuals experiencing shame, guilt, and anxiety. For many Christians, the choice of filing for bankruptcy may prove to be a dilemma. Many Christians believe it’s wrong or immoral to declare bankruptcy. After all, the Bible says we should pay our debts. However, the Bible offers a framework for understanding bankruptcy as an act of forgiveness and grace, rather than failure. Filing for bankruptcy is not a sin. No one is going to go to Hell for filing bankruptcy. It’s not a salvation issue. The Bible actually says in Deuteronomy 15:1-2 that, “At the end of every seven years you shall grant a release. And this is the manner of the release: every creditor shall release what he has lent to his neighbor. He shall not exact it of his neighbor, his brother, because the Lord’s release has been proclaimed.” Clearly, there is an agreement between the law of the Bible and that of the land. If you can pay your debts, as a good Christian, you should; if you are unable to do so, as a resident, it’s your legal right.
Blacks Face Bias in Bankruptcy, Study Suggests
A recent study has revealed that Black individuals are about twice as likely as White individuals to end up in the more burdensome and expensive form of consumer bankruptcy while attempting to resolve their debts. This gap remained even after accounting for factors like income, homeownership, assets, and education. The findings suggest that lawyers may be disproportionately directing Black clients toward a bankruptcy process that is financially less advantageous, possibly due to both conscious and unconscious biases. Most debtors file for Chapter 7 bankruptcy, which typically allows them to discharge most of their debts in a few months. Chapter 7 is generally more successful and less costly than Chapter 13, which requires individuals to use their disposable income to repay debts over several years. This was reported in an article by the NY Times.
Figeroux & Associates: A Leading Advocate for Debt Relief
Figeroux & Associates has helped thousands of individuals and businesses find financial relief through bankruptcy and other debt solutions. Their experienced legal team evaluates each client’s financial situation and determines the best strategy for achieving a fresh start.
Key Strengths of Figeroux & Associates in Bankruptcy Law:
✅ Comprehensive knowledge of bankruptcy laws and exemptions.
✅ Personalized legal strategies tailored to each client’s needs.
✅ Aggressive protection against creditor harassment and lawsuits.
✅ Guidance in rebuilding credit after bankruptcy.
✅ No fees unless your case is successfully filed and accepted.
Bankruptcy Services Provided by Figeroux & Associates
- Bankruptcy Filing & Representation
- Evaluating whether bankruptcy is the right option.
- Filing all necessary paperwork accurately.
- Representing clients in bankruptcy court hearings.
- Stopping Creditor Harassment
- Filing for bankruptcy immediately stops collection calls, lawsuits, wage garnishments, and foreclosure threats.
- The firm ensures creditors follow legal guidelines and do not violate consumer rights.
- Debt Negotiation & Settlements
- Some debts can be reduced or settled without filing for bankruptcy.
- The firm negotiates with creditors to lower balances, interest rates, or monthly payments.
- Foreclosure Defense & Mortgage Modifications
- Chapter 13 bankruptcy halts foreclosure proceedings, allowing homeowners to restructure mortgage payments.
- The firm assists in modifying mortgage terms to make payments more manageable.
- Student Loan & Medical Debt Relief
- While student loans are rarely discharged, bankruptcy can help reduce payments or pause collections.
- Medical debts may be completely discharged under Chapter 7 bankruptcy.
- Business Debt Solutions
- Chapter 11 bankruptcy allows businesses to reorganize and continue operating.
- The firm assists with negotiating with suppliers, lenders, and landlords.
Legal Approach & Strategy
- Personalized Debt Analysis
Each client receives a detailed financial evaluation to determine whether bankruptcy or another debt relief solution is best.
- Aggressive Protection Against Creditors
Once bankruptcy is filed, creditors must stop harassing clients, and the firm takes legal action against any violations.
- Strong Court Representation
The firm’s attorneys handle all legal proceedings, including filings, creditor meetings, and court hearings.
- Financial Education & Credit Rebuilding
After bankruptcy, Figeroux & Associates helps clients:
✔ Rebuild credit scores through financial planning.
✔ Understand post-bankruptcy financial responsibilities.
✔ Avoid future financial pitfalls.
Client Success Stories & Reputation
- Positive Client Testimonials
✔ Clients praise the firm’s professionalism and ability to stop foreclosures and wage garnishments.
✔ Many have successfully discharged thousands of dollars in debt with the firm’s help.
- Recognition in NYC’s Legal Community
✔ The firm is highly respected for its expertise in bankruptcy law.
✔ Recognized for helping families and small businesses stay afloat during financial crises.
Final Thoughts: Why Choose Figeroux & Associates for Bankruptcy Cases?
If you are struggling with debt, facing foreclosure, or overwhelmed by creditor harassment, bankruptcy might be the right solution. Figeroux & Associates offers:
✅ Top bankruptcy attorneys with years of experience.
✅ Tailored legal strategies to protect assets and income.
✅ Immediate relief from creditors and financial stress.
✅ A proven track record of helping clients achieve financial freedom.
Take control of your finances today! Contact Figeroux & Associates at (855-768-8845) or visit www.askthelawyer.us for a consultation.
