Chapter 13 Bankruptcy Lawyer in Westchester County
Accomplished, Dedicated, & Passionate Legal Representation Serving the Southern & Eastern Districts of New York
Are you a debtor with a steady income but facing foreclosure or other overwhelming debt? If so, Chapter 13 bankruptcy may be a viable option for you. Through this form of bankruptcy, you can work out a payment plan to repay your non-dischargeable debt as you keep your home and a majority of your assets. If you are facing the prospect of losing your home or other property through foreclosure, then it is critical that you take immediate action to halt the process.
Under Chapter 13 of the United States Bankruptcy Code, debtors can reorganize their assets and finances under the guidance of the court. By filing under this chapter, you can buy the time you need to seek a loan modification or resolve the mortgage debt in another manner. If you are considering pursuing this option, consult with Bronson Law Offices, P.C. so we can inform you of what to expect before, during, and after the process
Chapter 13 Bankruptcy Explained
In a Chapter 13 bankruptcy, the court can approve a reorganization plan for the payment of your debt, including any overdue mortgage payments. The reorganization plan can continue for 3-5 years.
Immediately after filing a Chapter 13 bankruptcy, the court will issue an automatic stay. The automatic stay orders your creditors to cease all collection activities. The automatic stay also postpones the foreclosure of your home, unless the lender obtains the court's permission to proceed with the sale or the foreclosure notice has already been filed
Chapter 13 can also reduce the overall amount that you owe to creditors beyond what is owed to your mortgage holder. This process can help get you back the control you need over your financial life.
Within 14 days of filing your petition, you will need to file information about your finances with the court and submit a repayment plan based upon your "disposable income," or the amount of money you have leftover after your bills and necessary expenses are paid.
Within 30 to 45 days of filing your petition, your first payment will be due. Upon the successful completion of your payment plan, your debt will be discharged, releasing you from any further obligation.
Experienced & Knowledgeable Counsel in Your Corner
Filing for Chapter 13 can be a very effective strategy to stop foreclosure proceedings and can allow you the option to renegotiate the terms of your mortgage. At Bronson Law Offices, P.C., we strive to provide knowledgeable, dedicated legal counsel and guidance when you need it most. We can help you work toward a brighter financial future and help you maximize the chance of saving your home.
The experience of your attorney can make all the difference in whether you are successful in avoiding foreclosure. Bronson Law Offices, P.C. has provided more than 25 years of service to individuals and families in Westchester County facing serious financial difficulties. You don't have to face your debt alone, let us help you rebuild your life today!
Amazing Legal Team
Attorney Bronson and his team are compassionate, professional and communicate in a way that makes any complicated legal process easy to understand.
Service Available in Spanish
Working with clients in the language that makes them feel the most comfortable.
Smoothly consulting and navigating clients through Bankruptcy, Debt Relief, Creditor Harassment, Foreclosure, or Tax issues.
Specializing in Businesses
Highly experienced in navigating the complicated process of Business Bankruptcy, Corporate Restructuring & Asset Protection.