New York Chapter 13 Bankruptcy Lawyer
The Chapter 13 bankruptcy attorneys at the Law Offices of David I. Pankin, P.C., has over a decade of experience providing financial relief for clients throughout the New York City, New York, area. We have offices located in New York City, Brooklyn, and Long Island to provide clients in New York City's five boroughs and other areas of New York with experienced, local Chapter 13 bankruptcy representation. We have assisted over 3,500 individuals with their financial problems and concerns and with consolidation and payment of their debts. Our office provides a personal, caring touch to help relieve the stress created by mounting financial obligations. Contact our office by phone at 800-529-5910 to arrange for your free initial consultation.
New York City and Long Island Bankruptcy Attorney
A Chapter 13 bankruptcy allows a debtor the opportunity to pay off his or her debts through a court-approved payment plan over a period of three to five years. The benefit received from filing a Chapter 13 bankruptcy petition is that a debtor can keep all of his or her non-exempt property (typically home and car). One of the additional benefits of a Chapter 13 bankruptcy is that interest and late fees do not accrue while the debtor is under the protection of Chapter 13 bankruptcy.
A common scenario in which a debtor will utilize the Chapter 13 option is when the debtor is behind on mortgage payments. Chapter 13 bankruptcy will stop a house foreclosure proceeding and give the debtor the right to pay back the past due payments over a period of up to 60 months. As part of the payment plan, a debtor is required to pay back a percentage, or all, of the unsecured debt. Upon completion of the plan, the debtor will receive a discharge of debts and will be able to keep his or her property.
The Chapter 13 bankruptcy, or wage earner bankruptcy, is designed for people who have a steady income, significant equity in their home, have filed for Chapter 7 bankruptcy within the past seven years, or have too much income to file for Chapter 7 bankruptcy. A Chapter 13 bankruptcy filing allows people to keep all their assets and stop home foreclosures while they reorganize their debt and work out a payment plan with a bankruptcy trustee. In addition, our Chapter 13 bankruptcy attorneys will review a client's rights for Truth in Lending and predatory lending violations.
Dedicated to protecting YOUR rights
Filing a Chapter 13 bankruptcy could be a viable option for you if you are experiencing financial difficulties and are concerned about losing your home, car, or other valuable property. Contact our offices by phone at 800-529-5910 to arrange for your FREE initial consultation and find out how we can help you.
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