Bankruptcy

CHAPTER 7 BANKRUPTCY

Chapter 7 Bankruptcy is sometimes called a "liquidation" bankruptcy – which means that it will cancel most of your debts. What this means is that when an individual files for bankruptcy, he or she may be able to discharge (cancel) a majority of their debt prompting a fresh start.

*For specifics on your particular situation, please continue to the advice page and have your questions answered.

What is the bankruptcy process and how can I help you? In general, once a bankruptcy is filed, everything you own or have a claim to becomes part of the bankruptcy estate. The Court then appoints a trustee to administer the estate. The next step in the process is a meeting with the trustee pursuant to section 341a of the bankruptcy code. After the meeting is conducted, the trustee will make a recommendation on the administration of the estate.

During this process, you have certain rights and protections that will need to be guarded. This can be done through effective bankruptcy planning and strong representation. The last step in the bankruptcy process is the discharge. The discharge is typically issued 90 days after the bankruptcy is filed. The discharge is why people file for bankruptcy. It is the official cancellation of the debts pursuant to section 727 of the bankruptcy code. It includes any debts that do not survive the bankruptcy.

*How do you begin the process? You can begin the process by filling out the questionnaire.

CHAPTER 13 BANKRUPTCY

Chapter 13 Bankruptcy also known as "reorganization" or "wage earner" bankruptcy:

Chapter 13 bankruptcy allows individuals to reorganize their debt. This reorganization can allow debt to be repaid over a period of 3 to 5 years. In reorganizing your debt, you may not be responsible to pay a majority of your unsecured debt, allowing you to keep your assets and pursue a debt free existence.

What is the bankruptcy process and how can I help you? In general, once a chapter 13 bankruptcy is filed, you will begin making payments to the Chapter 13 Standing Trustee.

To learn more about Chapter 13, please fill out the questionnaire with any questions or comments or call Roger Yehl at 716-573-4980.

The information you obtain at this site is not intended to be legal advice. You should consult an attorney for advice regarding your own situation.

Roger Yehl was brought up in a family of seven in Salamanca, New York. He is the son of a Navy Seabee and former mayor of the City of Salamanca. Mr. Yehl's mother worked for the Salamanca School District for years and acts as the Religion Coordinator for a local Church. Upon completion of SUNY Fredonia, Mr. Yehl enrolled in law school Thomas Jefferson in San Diego, California. After law school, he accepted a position with American Express Financial Advisors. Here, he obtained his series 7 (Stockbroker's license), series 66 (Investment Representative), and California life and health licenses. These licenses permitted Mr. Yehl to act as a financial advisor for consumers. He then decided to pursue his interest of advocating for individuals in need of attorney services.

Mr. Yehl successfully completed the New York Bar Exam in the summer of 2001. After which he worked for a small practice in Kingston, New York. There he acquired many skills in bankruptcy , workers’ compensation, personal injury , criminal law, and social security disability. He then moved back to Western New York to focus his energies on bankruptcy , criminal, and social security disability law.

Aside from Mr. Yehl’s dedication to his practice, he currently acts as a staff attorney for a Chapter 13 Standing Trustee in New Jersey.

I understand that debt can result in loss of sleep, consumption of thought process, and general discomfort in your daily life. Debt can create these daily concerns for many good people. I understand that good people can be consumed in debt for many reasons: medical problems, divorce, loss of job, high interest rates, workers’ compensation, just to name a few. For these and other reasons, bankruptcy law was created.

Bankruptcy is here to help good people in need. However, please be aware there may be changes in the bankruptcy code. These changes could drastically affect your rights under bankruptcy.