Bankruptcy

The law firm of Ziff, Weiermiller, Hayden & Mustico developed this webpage to provide information on the legal issues related to personal bankruptcy. For over 50 years, our attorneys have effectively represented clients throughout New York and Pennsylvania with skilled, aggressive and ethical legal services. We know that debt problems can happen for a variety of reasons, many beyond our control. Unemployment, divorce, loss of a spouse and bad credit can contribute to financial difficulties and make a person feel helpless and hopeless. The firm's lawyers work with clients to help them take control of their financial future. If you have no other way to pay your creditors, personal bankruptcy may be the best alternative.

Chapter 7 bankruptcy and Chapter 13 are legal proceedings to afford those in financial crisis with the opportunity to free themselves of debt and start anew. In a Chapter 7 bankruptcy, assets are liquidated, while Chapter 13 bankruptcy allows the debtor to reorganize debt repayment in a three to five year plan. It is important to note that after filing bankruptcy, you may be able to gain credit again. However, you will not be able to obtain any credit for at least seven years and you may be paying higher interest rates because you are considered a "risk".

The bankruptcy filing process begins with collecting all of your personal financial information. A petition is filed along with a statement of your assets, secured and unsecured debt, the most recent two years of tax returns, real estate deeds, car titles and any other loan documents. These liability and creditor payment list are referred to as schedules. In Chapter 13 declarations, a repayment plan must be submitted with the bankruptcy petition.

Bankruptcy entails a complex set of laws that are influenced by particular situations, so we recommend involving an attorney early in the process so that you understand all of your options. Bankruptcy is an important decision that should be made after considering all available alternatives. Many of our clients have expressed their frustration in attempting to work with creditors to resolve their debt situation. Some clients who have made honest attempts to work out their debts have reported that they were often ignored or even threatened by their creditors. With a qualified bankruptcy attorney on their side, our clients took the first important step to financial health and well-being.

At Ziff, Weiermiller, Hayden & Mustico, we appreciate the deep trust that our clients place in us and work hard to preserve that trust. Because we understand that declaring bankruptcy is often the last resort for those plagued by financial difficulties, we treat our clients with compassion and respect. Please contact us today to discuss your situation. We do the best we possibly can for every client in every case.

At Ziff, Weiermiller, Hayden & Mustico, our reputation for success is based on our ability to provide clients with the tools necessary to make informed, objective decisions. We can help you protect and plan for your financial future. Please contact Ziff, Weiermiller, Hayden & Mustico at 1-800-806-2852, or save time with our Contact Form.

Please see our Bankruptcy Frequently Asked Questions for more information on Bankruptcy.