Chapter 13 Bankruptcy
Chapter 13 bankruptcy can be confusing, but it’s a valuable alternative when Chapter 7 isn’t right for you. If you are dealing with overwhelming personal debt, but don’t want to risk losing your home, your car, or other personal assets, Chapter 13 might be the option you have been looking for.
Chapter 13 does not erase your debts; rather, it gives you the breathing room you need to repay your creditors while still having room to make ends meet. You’ll set up a repayment plan you can live with, and you won’t have to worry about repossessions, wage garnishments, or harassing collection calls and letters.
As an experienced New York bankruptcy attorney, I’ve helped thousands of hardworking people – just like you – find the financial relief they need through Chapter 13.
You’ll enjoy a fresh start, and you’ll have the peace of mind of knowing you’re on your way out of financial despair.
Who Should Consider Chapter 13 Bankruptcy?
Chapter 13 can be a good solution for you if:
- You are behind on your mortgage payments, but you want to stay in your home.
- You have excessive debts, and you have $50,000 or more equity in your home.
- You have received a Chapter 7 bankruptcy discharge within the past 8 years.
- You have income to commit to debt repayment after reasonable living expenses are taken care of.
- You have assets that are not considered “exempt” under Chapter 7 bankruptcy.
Keep in mind that not everyone is eligible to file for Chapter 13 protection.
You must have a stable income, and have a portion of your income available to make payments on your debt. Usually, under Chapter 13, you should be able to pay off your debts, or at least a substantial portion of your debts, within a period of 3 to 5 years.
Because of my years of experience, I have the extensive experience you need to make your Chapter 13 bankruptcy a success.
