Woods Lonergan PLLC’s bankruptcy practice ensures that our clients know all of their options when faced with potential bankruptcy. It is our mission to serve our clients’ unique situations and preferences. We provide support every step of the way in order for our clients to be well informed of when, if, and why they should file for bankruptcy. This includes in-depth assessment of restructuring options, negotiation with creditors, and representation in bankruptcy court should that be necessary. We are pleased to provide free consultations in our bankruptcy division. To see how our attorneys can help you understand your options please call (212) 684-2500 ext. 304. Woods Lonergan’s bankruptcy attorneys specialize in both commercial and individual bankruptcy cases in New York and New Jersey. Our bankruptcy practice also focuses on represents businesses as creditors in Bankruptcy Court needing to defend a claim or enforce their rights as a creditor. Chapter 7 Bankruptcy involves liquidating business to resolve debt. Woods Lonergan PLLC can assist with this option when business entities know they will no longer operate after bankruptcy. For individuals, Chapter 7 is also a popular chapter of bankruptcy. which offers eligible debtors the opportunity to receive a complete discharge of their unsecured debts, effectively “wiping” the debt away therefore prohibiting unsecured creditors from collecting on the discharged debt. Of course, not all individuals and debts are eligible for discharge, and Woods Lonergan PLLC can assist individuals in determining whether they are eligible for a Chapter 7 bankruptcy filing. Chapter 11 Bankruptcy primarily involves restructuring and reorganizing debt for business entities. Woods Lonergan PLLC has experience advising businesses in this process whether corporation, partnership, or sole proprietorship. Chapter 13 Bankruptcy involves reorganization and restructuring of debt for private individuals. Chapter 13 is a form of Bankruptcy designed to help individuals keep their homes and other valuable property or is used when an individual’s income is too high to file Chapter 7 Bankruptcy. Woods Lonergan PLLC can help understand what this means for you. This can mean paying off debt over the course of a three or five year repayment plan overseen by the Bankruptcy Court. Sole proprietors may also file for Chapter 13 Bankruptcy to reorganize personal and business debts simultaneously. Creditor Representation: Business may need an attorney in Bankruptcy Court for a variety of reasons, including: to represent the Business’s interest as a Creditor in a bankruptcy proceeding; obtain a distribution for a Business’s claim; lift the automatic stay; or defend an adversary proceeding brought against a Creditor by a Trustee or Debtor. Woods Lonergan PLLC has experience representing businesses in all aspects of Bankruptcy Court litigation and creditor representation. Woods Lonergan PLLC is dedicated to finding creative and tailored solutions to difficult and complicated debt problems. Strengthened by the breadth of our firm’s real estate, litigation, and employment divisions, our attorneys’ strengths inform and complement one another allowing us to best serve you.