Need Chapter 13 Bankruptcy in New York City? Speak with a Bankruptcy Attorney
Chapter 13 bankruptcy is a complicated process in New York City and mistakes could cost your financial future dearly. If executed correctly Chapter 13 can be especially beneficial way to file bankruptcy, but you need the assistance of a qualified bankruptcy attorney familiar with Chapter 13 filings. Many large bankruptcy law firms advertising quick and easy bankruptcies are not interested in filing Chapter 13 cases and may steer you towards a less helpful Chapter 7 instead. A thorough examination of all of your debts, assets, income and expenses must be performed before deciding on any bankruptcy and working with the right attorney can make all the difference when it comes time to propose a Chapter 13 plan.
Chapter 13 is the best way to save a home facing foreclosure or a car facing repossession in New York City. Your Chapter 13 repayment plan will allow you to catch up on your overdue payments over the course of 3-5 years. An experienced attorney will also help shield your other valuable assets including bank accounts, retirement accounts and family heirlooms through the New York State and Federal exemption systems. Your attorney will guide you through the process to ensure all of your filing requirements and filing deadlines are met. They will help you devise a repayment plan that will be approved by the Court but that will allow for the maximum elimination of your unsecured debts while accounting for all of your allowable expenses.
What’s more is that consulting with a bankruptcy attorney about your financial troubles does not mean you will be forced to file bankruptcy. A free consultation can go a long way to understanding your financial relief options, and most people are simply unaware of how bankruptcy will actually help their situation before they meet with an attorney.
In New York City people have another important reason to file Chapter 13 instead of Chapter 7. If you live in a rent stabilized apartment your lease may be considered an asset to be liquidated if you file a Chapter 7 case. Recent case law has asserted that the rent stabilized leases are exempt under the NY exemptions. (In re Santiago-Montverde) Only Chapter 13 can definitely save a rent stabilized apartment lease, but many attorneys in New York City are still unaware of this alarming issue.
Filing bankruptcy is one of the biggest financial decisions you will ever make. It only makes sense to work with the most qualified attorney available, and one that is experienced with both Chapter 7 and Chapter 13 cases. If you live in New York City contact the Law Offices of William Waldner online or at 212.244.2882 to arrange a free consultation today. We only practice bankruptcy law and maintain a 99% Chapter 7 bankruptcy discharge record in New York City as of 10/7/2015.
**** DISCLAIMER: This article is intended for educational purposes only. By reading no attorney-client relationship has been created. Prior results do not guarantee a similar result for future clients.