Written by Craig D. Robins, Esq.
With reports of consumer bankruptcies on the rise, and a continuing bad financial economy, many Long Island consumers are wondering if bankruptcy is for them
I recently wrote how nationwide bankruptcy filings are returning to record numbers. See Bankruptcy Filings Returning to Pre-Amendment Levels 
On Long Island, thousand of consumers eliminate debts each year with bankruptcy. Here are some of the considerations in deciding if bankruptcy is an option for you:
1. Do you have lots of debt? Bankruptcy can help if you have a great deal of credit card debt, medical debt, or even legal debt, that you are having difficulty paying back. In a chapter 7 bankruptcy case, this type of debt is discharged. See my website, BankruptcyCanHelp.com.
2. Are you a good candidate for bankruptcy? When the bankruptcy laws changed, a qualification requirement was imposed called the means test. Most consumers on Long Island have no problem passing this test and becoming eligible to file for Chapter 7 bankruptcy. An experienced bankruptcy attorney can help you determine if you qualify.
3. Do you need to save a house from foreclosure? If so, then a Chapter 13 bankruptcy, which involves a payment plan, will enable you to cure mortgage arrears over a five-year period.
4. Are your debts primarily unpaid income taxes, child support, alimony, maintenance, student loans, or court-imposed fines? If so, these debts cannot be eliminated in a bankruptcy proceeding.
Some Long Island bankruptcy lawyers, such as my firm, offer a free consultation to explore these issues. If you are overwhelmed by debt, you should consider using the federal bankruptcy laws to protect you. This year it is estimated that about 1.5 million Americans will.