Experienced Bankruptcy Attorney for Long Island
The prospect that you would one day face possible home foreclosure was inconceivable. However, one missed payment suddenly turned to several missed payments and now you are facing the dreaded foreclosure action. The Law Offices of David I. Pankin, P.C. can help you stop foreclosure and regain control of your finances. Contact our Long Island law firm for a free consultation to discuss your bankruptcy options with a skilled lawyer.
Keep Your Home, Real Estate and Other Property
The bankruptcy team at Law Offices of David I. Pankin, P.C. can help you stop repossession, wage garnishment and foreclosure by filing for either Chapter 7 or Chapter 13 bankruptcy. Once you have filed for bankruptcy, all repossession and foreclosure proceedings must immediately come to a halt.
While Chapter 7 discharges debt, Chapter 13 bankruptcy allows consumers to reorganize debt—including overdue mortgage payments—into a manageable repayment plan lasting either three or five years. Rather than dealing with multiple creditors and late notices, one monthly payment is made to a bankruptcy trustee. In addition, interest does not accrue during the repayment period.
Chapter 13 bankruptcy is a legal remedy to stop foreclosure. Many people have questions about alternatives to bankruptcy, such as debt consolidation. Unfortunately, there are numerous disadvantages to credit/mortgage counseling that make it unproductive for many people. However, under a successful Chapter 13 bankruptcy, you may not be required to pay back all of your debt AND you will be capable of keeping your home.
Bankruptcy is Not the End, It Is a New Beginning
As your legal team, we are dedicated to protecting your rights and enabling you to make informed decisions about your financial future. Contact us by phone at 800-529-5910 to arrange for your FREE in-depth initial consultation. We'll work to stop foreclosure and manage other debt problems right away.
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