Experienced Rochester, NY Bankruptcy Lawyers to Help You
The team at Tully Rinckey PLLC’s Rochester office is here to help. We utilize our decades of experience in bankruptcy and debtor’s/creditor’s rights law to represent both individuals and corporations dealing with financial difficulties. We take the time to listen and develop the most effective solutions. If bankruptcy is the best option, we have practiced in Rochester Bankruptcy Courts for many years, and we’ll work tirelessly to achieve an outcome that can help you get back on your feet.
We can also help you if you’re a creditor whose client has declared bankruptcy.
We’re conveniently located at 400 Linden Oaks, near St. John Fisher College and the Oak Hill Country Club. You can also reach us 24-7 by calling 888-529-4543. Let us help you today.
What Options Do You Have with Bankruptcy?
Bankruptcy is different for individuals and corporations. A reorganization under Chapter 11 (for corporations) or Chapter 13 (for individuals) involves restructuring your finances and paying a fixed amount decided by the Court to your creditors over time. Chapter 7 is a liquidation of your non-exempt assets, which usually entitles you to keep much of your personal property. A reorganization and liquidation require an effective advocate to protect your rights and meet your needs for a new start.
Our bankruptcy attorneys have managed hundreds of these cases in Rochester. We work with you to identify and protect your assets, and we’ll ease your burden by negotiating a reorganization plan or a liquidation process with your creditors. The Bankruptcy Code provides an “automatic stay” that prohibits creditors from harassing you and collecting debts without Court approval. We use the automatic stay to provide immediate relief while we work out your situation.
We also represent creditors in the Bankruptcy Courts.
Personal bankruptcy is never the first step. Our Rochester Bankruptcy Attorneys work with all your creditors to find an acceptable resolution and restructuring of your debts that allow you to get back on your feet. If this isn’t possible, we’ll explore the pros and cons of a Chapter 13 filing, which pays a portion of your debts to creditors over a fixed time period. If you can’t afford a Chapter 13 plan or the creditors won’t accept reasonable terms, you may be a candidate for a Chapter 7 filing. Under Chapter 7, your non-exempt assets are liquidated, and the proceeds paid to your creditors. The debts are then eliminated, and you receive a fresh start.
If you decide to file for bankruptcy protection, we’ll work with you to maximize your exempt property as well as increase your credit score. Creditors look at things besides a bankruptcy filing, such as a steady income in deciding whether to extend new credit.
Most corporate bankruptcies are filed as Chapter 11 reorganizations, but many convert to Chapter 7 if the business can’t generate enough income to make the payments under a Chapter 11 plan. A Chapter 11 filing allows the company to stay in business, retain its employees, and seek to increase revenues. We explore both options for all corporate clients.
Contact Our Rochester Bankruptcy Attorneys
If you or your business are experiencing financial strain, contact us as soon as possible. We’ll help you obtain the best possible relief from your creditors. Your need for a fresh start is our highest priority.