Kiritsis & Associates
By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
A federal law section that allows a debtor the opportunity of a fresh start through relief of future obligations to repay his unsecured debts by surrounding his assets to Bankruptcy Court. Bankruptcy law has a lot of influence on how real estate contracts are drafted. Usually, the hardest part of buying real property is obtaining adequate financing. One of a lender’s greatest fears is a borrower filing bankruptcy, thus lender puts a lot of emphasis in trying to limit his exposure in the event of a borrower’s bankruptcy. Bankruptcy filings typically put an automatic stay on current and potential creditors. Some debt such as student loans, may be virtually impossible to pay for it. Bankruptcy filers should be aware that there will be a meeting of the creditors. Also, discharge of debt at bankruptcy, may have potential tax ratification (i.e. need to pay tax on the dischargeable debt). Bankruptcy rights are rooted in the U.S. Constitution; however due to a myriad of questions posed by state law, the federal bankruptcy courts have conceded a lot of their power to the states (marriage certificates, birth certificates).
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
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We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.
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