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Practices  > Bankruptcy  
Bankruptcy Law

Call now for a FREE consultation (212) 920-5989

No one starts out with the intention of declaring bankruptcy, but life is unpredictable. Credit card balances, loans and expenses that once were manageable can quickly spiral out of control due to exorbitant or unexpected medical bills, disability, divorce or loss of a job.

Many people are hesitant to explore the option of bankruptcy because of embarrassment or shame. However, bankruptcy is a legal procedure that can help you get out from underneath your crushing debt and give you the fresh start you deserve.

At Agarunov Law Firm we understand filing for bankruptcy can be a difficult decision, and we are committed to guiding you through the process with caring and compassion. Our goal is legal advocacy that achieves favorable results for our clients.

There are several types of bankruptcy; each one has advantages and disadvantages depending on the type and amount of debt owed, current income, whether you have previously filed for bankruptcy and whether you are an individual or corporation. We will help you determine which is the right option for you and will help you gather the information needed to complete the official bankruptcy forms.

Bankruptcy law is complex. The attorneys at Agarunov are skilled in navigating the maze of requirements associated with helping clients rebuild through personal and corporate bankruptcy. Our attorneys are experts in the following areas:

Chapter 7

The bankruptcy option used most often by individuals, Chapter 7, also called liquidation, involves selling assets in order to pay creditors. Mortgage, car and child support payments are not discharged under Chapter 7 and although your home cannot be sold to pay your creditors, it can be foreclosed on. We can advise you as to which debts will be handled under Chapter 7 and defend you in the event of foreclosure.

Chapter 13

This option is available to individuals, sole proprietors and unincorporated business owners. Under Chapter 13, creditors agree to restructure the debt, and the debtor makes payment on the remaining balance. We will work with creditors on your behalf to arrange a favorable repayment plan.

Chapter 11

Chapter 11 bankruptcy is another option for individuals, businesses, sole proprietorships and partnerships. Our attorneys can help you restructure under this option and can protect your rights by reviewing settlements or contracts.

Corporate bankruptcy

Corporations or partnerships can file under Chapter 7, Chapter 13 or Chapter 11. Agarunov attorneys can advise you on the advantages and disadvantages of each and help you determine the best course of action. We can help you assemble documents such as income and expense statements, contracts, rental agreements or leases, asset and liability statement, tax returns and listing of creditors.

Involuntary bankruptcy

In some instances, creditors may force an individual, corporation or partnership into bankruptcy. In these situations, we will explain to you all of the options available and guide you through the process.

Debt negotiation

Debt negotiation can be an alternative to filing for bankruptcy. Our experienced attorneys will aggressively work on your behalf to negotiate a settlement with your unsecured creditors.

Debt collection

The Fair Debt Collection Practices Act protects you from being subjected to abusive, unfair or deceptive practices when creditors are trying to collect a bill. If you are harassed or threatened by a debt collector and desire to pursue litigation, we can sue them on your behalf. We can also defend you if you are being sued for a debt you do not owe.


If you have additional questions or are considering bankruptcy as an option please call our office for a free consultation at (212) 920-5989 or email contact@agarunovlaw.com.