Surprise! I filed for bankruptcy -does that affect my personal injury settlement?
I provide bankruptcy consultation services to attorneys. Recently, an issue was discussed that is a tale of caution to personal injury...
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Jan 22, 20213 min read
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Introducing our law firm
Welcome to Berson on Bankruptcy Blog
Law Offices of Kimberly Berson
Seasoned New York Bankruptcy Attorney
Learn about Bankruptcy
Answers to your Bankruptcy Questions
Where bankruptcy is explained to every day people so that they understand how it may help them achieve debt relief
The Law Offices of Kimberly Berson
I am the founder of The Law Offices of Kimberly Berson. I have been practicing bankruptcy law for over twenty-five years. I also teach bankruptcy law and business law classes. I am passionate about educating my clients about their legal issues and making sure they understand the process. Too often, I have encountered people involved in a bankruptcy proceeding feeling overwhelmed and stressed because they were not properly advised about the procedure. When people are equipped with knowledge, they feel more secure and comfortable. I am committed to helping people understand bankruptcy and how it can help so they can feel less apprehension about the process and experience the relief they are seeking.
Frequently Asked Bankruptcy Questions
What is a Bankruptcy proceeding?
A bankruptcy case is a proceeding that is before a specialized federal court, the bankruptcy court, where the debtor, the individual or entity that has filed for bankruptcy, seeks debt relief through either a liquidation proceeding or a reorganization proceeding. A bankruptcy case is not like a lawsuit where you have an adversary. It is a equitable remedy where you are seeking to have the Court grant you a discharge of your debts or you are seeking to reorganize your debts through a plan. Learn more about bankruptcy cases through our blogs on this website,
What are the different types of bankruptcy cases?
There are two main types of bankruptcy proceedings- a liquidation proceeding or a reorganization proceeding. In a liquidation proceeding, the debtor's non-exempt assets are liquidated or sold and the proceeds are distributed to the creditors in the order set forth in the Bankruptcy Code. This is a chapter 7. In a chapter 7 case, many assets may be claimed exempt and in most cases, there are no non-exempt assets available for liquidation. In a reorganization proceeding, the debtor proposes a plan to pay back creditors. Reorganization cases are proceedings under chapter 13, chapter 11, chapter 12, chapter 9 and chapter 15 of the Bankruptcy Code. Learn more about the different proceedings by reviewing the blogs on this website.
Will I get to keep my assets if I file a chapter 7 ?
Most likely you will be able to keep your assets.When you file for bankruptcy you are allowed to claim certain property exempt from liquidation up to a certain amount. Most chapter 7 cases are cases where there will be no distribution to creditors because there are no non-exempt assets available to liquidate. Filing a bankruptcy petition commences the bankruptcy proceeding, On Schedule C of the petition, you are entitled to claim certain assets exempt under the law. What this means is the trustee that is appointed to administer the chapter 7 estate will not be able to sell property that is properly claimed exempt. This is why many people who file a chapter 7 case will be granted a discharge of debts while retaining their assets. Learn more about exemptions through this blogs on this website.
How does bankruptcy help with my debts?
Through a bankruptcy proceeding, a debtor may discharge certain debts that are dischargeable through the bankruptcy. Receiving a discharge of a debt means that you do not have a legal obligation to pay the debt. This means a creditor whose debt was discharged in the bankruptcy cannot take any steps to collect the debt during the bankruptcy and after the bankruptcy case is closed. No phone calls, no lawsuits, no collection letters. Learn more about what debts are dischargeable and when you may not be entitled to a discharge through additional blogs on this website.
The Story of Kimberly Berson
Hello. My name is Kimberly Berson but everyone calls me Kim. I am happy you are visiting
this website and I hope I can answer your questions and concerns. Let me tell you a little bit
about my background. I am an attorney with over 25 years of legal experience. I have been
practicing bankruptcy law my entire career. I have represented all different interests in
bankruptcy proceedings- debtors, creditors and trustees. I have represented individuals as well as businesses in bankruptcy cases. So, my experience is diverse and from all angles of a bankruptcy proceeding. This gives me a unique perspective of a bankruptcy case. Presently, my practice is devoted to helping those who are in need of debt relief. I serve clients on Long Island, Brooklyn, Queens and Manhattan in New York. I also teach bankruptcy law, legal research and writing and business law courses to future paralegals and undergraduate business majors. What I enjoy most about practicing law is that it gives me an opportunity to help people make their lives a little less stressful. Allowing me to help you helps me. It helps to give me purpose and I am grateful to every person that has trusted me to help them. What I also love about the law is the academic part of it. I love researching and discussing the law. I am passionate about educating people about the legal process. I want my clients to understand the law and the process so I take the time to fully explain it to them. This makes all the difference in how their case progresses. It relieves their anxiety about the bankruptcy process and allows for a smooth bankruptcy case without any unforeseen surprises. I hope that my website and blogs help you understand bankruptcy and how it can help you. My wish is that the knowledge you learn will help relieve your stress. In my free time, you will find me going for a run in the wee hours of the morning, checking in on my college age and graduate school age children and taking care of my pets. You may find me in the woods taking a hike with my dog, Jessie, or chasing my special needs cat, Livy, in my backyard or feeding the neighborhood stray cats on my stoop and providing them with love and affection. I hope you learn a little more about bankruptcy from this website and I look forward to perhaps meeting you.
Take care. Stay safe.
Kim Berson - Call: 516-847-5122 or email: kbersonlaw@gmail.com and website:kbbankruptcylaw.com
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