How Long Does Chapter 13 take in New York City?
How Long Does Chapter 13 take in New York City? When you file a Chapter 13 bankruptcy petition in New York City you will propose a repayment plan that fully repays your secured creditors but gives your unsecured creditors only pennies on the dollar. Exactly how long your Chapter 13 repayment plan will last depends […]
Will I Lose My Property if I file Chapter 13 Bankruptcy in New York City?
No. In a nutshell Chapter 13 allows you to keep your property in exchange for repayment of at least some of your debts. Also known as a “Wage Earner’s Bankruptcy” Chapter 13 is designed for individuals or married couples who are earning at least some income between them and are able to repay a portion […]
Don’t be Afraid of Chapter 13 Bankruptcy Court in New York City
Don’t be Afraid of Chapter 13 Bankruptcy Court in New York City People facing serious financial hardship in New York City can often be saved through Chapter 13 bankruptcy, but many that would easily qualify will delay filing because they are afraid of going to court. While there is a of mandatory appearance for any […]
Confirming a Chapter 13 Plan in New York City?
Confirming a Chapter 13 Plan in New York City? In a Chapter 13 bankruptcy the bankruptcy petitioner will agree to make regular monthly payments to the bankruptcy trustee in order to repay some portion of the debt owed to their creditors. Before a Chapter 13 bankruptcy filer can get started with their monthly payments their […]
Is Chapter 13 Bankruptcy Better For My Credit Score than Chapter 7 in New York City?
Is Chapter 13 Bankruptcy Better For My Credit Score than Chapter 7 in New York City? The potential negative effects on a credit score is the primary concern for most people considering bankruptcy relief in New York City. While the rumors that bankruptcy will ruin your life forever are patently false, it’s true there are […]
Chapter 13 Plan in New York City can Help if You are considering a Chapter 7 Bankruptcy.
Chapter 13 Plan in New York City can Help if You are considering a Chapter 7 Bankruptcy. Filing Chapter 13 instead of Chapter 7 is not for every New Yorker thinking about bankruptcy protection, but Chapter 13 can often provide the most overall protection for an individual or family facing financial difficulty. Instead of liquidating […]
Financial Management Course for Chapter 13 Bankruptcy in New York City
Financial Management Course for Chapter 13 Bankruptcy in New York City In addition to the monthly payments required under a Chapter 13 repayment plan in New York City, Chapter 13 also requires filers to complete financial management counseling before you conclude your Chapter 13 Bankruptcy repayment plan. Not to be confused with the credit counseling […]
Are Assets Liquidated in a Chapter 13 Bankruptcy in New York City?
Are Assets Liquidated in a Chapter 13 Bankruptcy in New York City? Chapter 13 bankruptcy does not liquidate a debtor’s assets in order to satisfy creditors like a Chapter 7 bankruptcy. Instead of liquidating your property, a Chapter 13 allows you to repay creditors for the overdue amounts through a “wage earners” repayment plan. In […]
Am I Eligible for Chapter 13 Bankruptcy in New York City?
Am I Eligible for Chapter 13 Bankruptcy in New York City? For many people in New York City facing a financial crisis Chapter 13 can be best remedy, but not everyone will automatically qualify for Chapter 13 protection. Typically, in order to meet the terms of your Chapter 13 repayment plan you must have enough […]
Should I File For Chapter 13 Bankruptcy Instead Of Chapter 7 Bankruptcy in New York City?
Should I File For Chapter 13 Bankruptcy Instead Of Chapter 7 Bankruptcy in New York City? At first glance Chapter 7 will seem like the best way for most consumers in New York City to file bankruptcy because it takes less time and doesn’t require you to repay your creditors. The truth is however that […]