Yonkers

Yonkers Attorney for Bankruptcy

Chapter 7 Bankruptcy vs. Chapter 13 Bankruptcy

How should I know whether to file for Chapter 7 bankruptcy or Chapter 13 bankruptcy in Yonkers? Before deciding which chapter of the U.S. Bankruptcy Code to follow, consult with a trustworthy Yonkers bankruptcy attorney. Chapter 7 bankruptcy, the most common form of bankruptcy in the United States, is most commonly known as "liquidation" or "straight bankruptcy." In other words, Chapter 7 bankruptcy allows for a collector to seize all the debtor's eligible assets, and then have these assets liquidated to pay off creditors.

Chapter 13 bankruptcy, on the other hand, does not necessarily involve liquidation and can actually stop foreclosure on a debtor's home. Instead, Chapter 13 bankruptcy allows a debtor to pay off their debt during a three to five year period. After filing a petition in court for Chapter 13 bankruptcy, all creditors and debt collectors will stop all attempts to collect the debt in which you owe. Within the next 30 to 45 days after filing your petition in court for a Yonkers Chapter 13 bankruptcy, you will be expected to begin your first payment.

Alternative Solutions to Bankruptcy in Yonkers

Filing for bankruptcy in Yonkers, however is not necessarily the correct decision for every debtor. A means test must be completed to determine if the debtor can file for Chapter 7 or Chapter 13 bankruptcy. At Bronson Law Offices, P.C., you can be sure that a Yonkers bankruptcy lawyer will provide you with the essential information required to determine whether you should file for Chapter 7 bankruptcy, Chapter 13 bankruptcy, or find an alternative solution altogether. Potential alternatives that an experienced bankruptcy lawyer at our firm can speak with you about include but are not limited to: negotiating with creditors, debt consolidation, loan modification, and putting a stop to creditor harassment.

To find out if bankruptcy is right for you, contact a Yonkers bankruptcy attorney at our firm as soon as possible!

Helpful Links in Yonkers

The Bronson Law Offices Team

Accomplished • Dedicated • Passionate
  • H. Bruce  Bronson Photo
    H. Bruce Bronson

    Attorney

    Attorney Bruce Bronson has practiced law for over 30 years and has extensive experience in: Foreclosure Services Bankruptcy Chapter 7 Bankruptcy Chapter 13 Bankruptcy Loan Modification Lien Strips Tax Repayment Sale of Home - Free & Clear Chapter 11 Bankruptcy Restructuring Liquidation Sale of Assets Defense from Eviction or Foreclosure Appeals Bankruptcy Federal Court NY State Court Tax Law Real Estate Litigation Federal Court NY State Court Bronson has an AV® PREEMINENT ™ rating from ...
/

Contact Us

Don’t Wait to Get Help

We take time to listen and get to know our clients. Send us a message by using the form below. 

  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.

Bronson Law Offices

Your First Choice
  • 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.

  • Helping Individuals

    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.