Tax Law And Litigation Services For Businesses And Individuals

Handling Your Debt Relief Needs Through Bankruptcy Law In Manhattan

At M. Bradford Randolph, Esq., PLLC, in Manhattan, we have helped numerous people take advantage of the powerful legal protections offered by the Bankruptcy Code. If you are serious about achieving debt relief, we are here for you.

If you are struggling with high debt, you may be facing creditor harassment, wage garnishment, foreclosure and other setbacks. Bankruptcy is a powerful legal tool that can help people get on their feet and put the burden of debt behind them.

Call 347-315-1648 to schedule a consultation with a knowledgeable New York bankruptcy attorney.

Is Bankruptcy Right For You?

At M. Bradford Randolph, Esq., PLLC, we specialize in tax and foreclosure issues related to bankruptcy. If you are facing a debt burden and are unsure where to turn, we can help you explore the option of bankruptcy.

  • Chapter 7 bankruptcy: Chapter 7 offers total debt relief and a “fresh start” to those overwhelmed by credit card debt, medical debt and other types of unsecured debt. Contrary to prevalent myths, most people who file for Chapter 7 do not lose their personal property. We specialize in addressing tax debt in bankruptcy.
  • Chapter 13 bankruptcy: Also known as a “wage earner’s plan,” Chapter 13 offers individuals and small business owners a chance to manage their debt, stop the accrual of interest charges and repay all or a portion of their debt over a period of three to five years. It stops creditor harassment and can quickly address foreclosure proceedings if filed before a sale.
  • Chapter 11 bankruptcy: Chapter 11 bankruptcy allows businesses to restructure debt while at the same time continuing normal business operations. Individuals and small businesses that may not qualify for Chapter 13 bankruptcy may also consider this as an option.

Attorney and CPA Bradford Randolph has extensive experience guiding clients through the bankruptcy process. He specializes in helping small businesses to navigate a Chapter 11 or 13 filing, including the requirement of filing monthly operating reports. He also helps individuals to discharge some or all of their tax debts through bankruptcy.

Mr. Randolph will lead you through the process step by step, working to help you achieve debt relief.

Get A Fresh Start With Chapter 7 Bankruptcy

Chapter 7 bankruptcy provides many individuals with the fastest, most efficient path to debt relief. Although Chapter 7 is often referred to as a “liquidation bankruptcy,” the name is misleading. Those who file for Chapter 7 bankruptcy are often able to keep most of their property.

Mr. Randolph works closely with his clients to evaluate their financial circumstances and determine whether they qualify for Chapter 7 bankruptcy. If large amounts of assets are at stake, he may recommend filing Chapter 13 bankruptcy instead to safeguard these during the bankruptcy process.

A Payment Plan That Works For You: Chapter 13 Bankruptcy

Economic uncertainty, rising medical costs and other unforeseen events often make it difficult for hardworking, responsible people to make ends meet. As bills become past-due, many feel buried under an insurmountable pile of debt.

Mr. Randolph helps individuals and families eliminate or reduce their debts and regain control of their finances through Chapter 13 bankruptcy. The Chapter 13 process is very complex. Instead of discharging debts outright – like Chapter 7 – debts are reorganized into a repayment plan. Under this plan, further interest charges are stopped and creditors are paid a portion of the debts they are owed over a three- to five-year period. At the end of the repayment period, all remaining debts are discharged.

In order to determine the size of your monthly payments, all your income, assets and costs of living must be carefully evaluated. Mr. Randolph will work with you to evaluate your lifestyle, responsibilities and assets to create a Chapter 13 repayment plan that allows you to live as normal a life as possible while satisfying its terms. He can also assist you with keeping your home, lowering your monthly mortgage payments and eliminating any second or third mortgage payments you may have.

Your Chapter 13 plan must be carefully crafted to not only help you achieve future financial stability but also to comply with the many rules and regulations governing bankruptcies. If your plan is improper, your bankruptcy petition will be denied.

Reorganize Your Business Debt Through Chapter 11 Bankruptcy

Is your business going through financial troubles? Chapter 11 bankruptcy may be the debt relief you need to help your business get back on track. Filing Chapter 11 bankruptcy allows businesses and corporations to work out a repayment plan with creditors.

Chapter 11 bankruptcy is available for:

  • Small businesses
  • Partnerships, LLCs
  • Corporations

Chapter 11 bankruptcy allows businesses to restructure debt while at the same time continuing normal business operations. Individuals and small businesses who do not qualify for Chapter 13 bankruptcy because they exceed the limitations of unsecured or secured debt will need to consider Chapter 11 bankruptcy as an option.

Not every business will survive Chapter 11 bankruptcy. Chapter 11 bankruptcy is meant for businesses that have current and future profitability or positive cash flow. Mr. Randolph will evaluate your situation to determine if Chapter 11 is the best route for your company’s future. He can also negotiate with creditors toward a debt repayment plan.

Addressing Tax Issues In Bankruptcy

When money gets tight, many people decrease their tax withholdings, increase their dependents and take other steps to increase their monthly take-home pay so they can meet the daily costs of living. However, these strategies often result in large tax debts. When penalties and continually accruing interest are added in, the amount due can quickly become unmanageable.

Many people believe eliminating tax debt through bankruptcy is impossible. It is important to consult with a lawyer who is experienced in both bankruptcy and tax law about your options for tax debt relief.

Mr. Randolph will thoroughly examine your tax debt to determine if it is dischargeable in bankruptcy. If so, he will help you petition for bankruptcy and work to discharge your tax debts. Even if your tax debt is not dischargeable through bankruptcy, there are other steps he can take – such as offers in compromise and payment plans – to help you effectively manage your debt.

Take The First Step Toward Relief

Tax debt can be overwhelming, but you don’t have to face it alone. M. Bradford Randolph, Esq., PLLC, can explain the legal options available to you. Call our firm in Manhattan at 347-315-1648 or email us to get in touch. M. Bradford Randolph is a highly qualified New York City bankruptcy lawyer. Mr. Randolph also holds an MBA and is a CPA with over 25 years of experience to assist you with your tax matters and business tax issues.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.