Personal Reorganization -- Chapter 13
Filing Chapter 13 Bankruptcy is a Way to Restructure Your Debt to Make It Manageable -- with the Assistance of Experienced NY Bankruptcy Attorneys
Chapter 13 Bankruptcy can provide an interest-free debt repayment plan through which you consolidate your debts over a three to five-year period. At the law offices of Genova & Malin, Attorneys at Law , our bankruptcy attorneys are experienced in helping clients fashion a manageable plan to help you achieve your goals. Your creditors cannot collect from you during the term of the plan. A bankruptcy trustee supervises the repayment plan. Debts that are generally consolidated in a Chapter 13 Bankruptcy filing include:
- Mortgage Arrears
- Balances on Vehicle Loans
- Student Loans
- Credit Card Debts
- Other Unsecured Debts.
One important thing to remember about Chapter 13 Bankruptcy is that you must be working or have a consistent source of income for your repayment plan to be approved by the court. Not only must you be able to pay for your monthly living expenses, you must also be able to make a payment to the court to consolidate your debts.
Experienced New York Chapter 13 Bankruptcy Attorneys Who Can Halt a Foreclosure on Your Home, and Reorganize Your Debt
Filing for a Chapter 13 bankruptcy repayment plan will stop a foreclosure any time prior to a sheriff's foreclosure sale, and allow you to repay your mortgage arrears. You will still be obligated to make all future payments directly to the mortgage company, but they may not proceed with the foreclosure. Call us immediately at Genova & Malin: once the sheriff sells your home, there is nothing we can do to stop the sale.
Although you may not eliminate student loans in a Chapter 7 bankruptcy filing, you can consolidate student loan debts with your other bills in a Chapter 13, and stop a collection action against you. We can stop the collection action and garnishments related to student loan debts.
Your cosigners get protection too-in fact the same protection that you receive under Chapter 13. A Chapter 13 personal reorganization will protect your cosigners from collection activity while you are in your repayment plan.
We can use a Chapter 13 debt repayment plan filing to stop a finance company from repossessing your vehicle. The past due payments, along with the outstanding balance on the car loan, will be consolidated into the Chapter 13 bankruptcy reorganization. The finance company cannot repossess your car, and you will not have to make a payment directly to the finance company. In some instances, we can even get your car back if it was recently repossessed. Please read more on Chapter 13 Bankruptcy -- What to Expect.
Filing Chapter 13 Bankruptcy May Be Better than Refinancing, or Taking Out a Second Mortgage on Your Home, with the Help of Skilled NY Bankruptcy Attorneys
If you have equity in your home, you can file a Chapter 13, protect your equity, and repay your mortgage arrears over time. Refinancing or taking out a second mortgage may just create an additional mortgage payment that you cannot afford, instead of repaying your mortgage arrears through a Chapter 13. You should explore all your options.
With our experienced legal representation, you become aware of your rights, and become less vulnerable to people trying to take advantage of you in a time of distress. Our two principal attorneys, Thomas Genova and Andrea B. Malin have more than 33 years of experience in bankruptcy law. Put their legal skills and knowledge to work for you. We offer a FREE BANKRUPTCY EVALUATION. Please do not hesitate to contact us now.
845-236-5282
Genova & Malin, Attorneys at Law
New York Chapter 13 Bankruptcy Attorneys
Personal Reorganization Bankruptcy Lawyers
With Offices in Wappingers Falls, New York, Serving
Putnam, Orange, Ulster, Dutchess, Goshen, and Westchester Counties,
And Communities from White Plains to Albany, including
Poughkeepsie, Middletown, Newburgh, and Kingston
