Repaying Your Debts Over Time
Save Your Home Through Chapter 13 Bankruptcy
If you lost your job or got way behind on payments, but now have the means to catch up, Chapter 13 bankruptcy may be the answer. You are protected from harassing creditors, foreclosure and repossession while you spread repayment over several years.
Nyack, New York bankruptcy lawyer Robert Lewis can determine if Chapter 13 is right for you. We represent clients throughout Rockland County and the Lower Hudson Valley. Call 845-358-7100 for a free initial consultation to learn how you can get back on track.
What is Chapter 13 Bankruptcy?
In Chapter 13, also known as reorganization, you pay back some of your debts, based on your ability to pay. Through a court-approved debt consolidation plan, you make payments for 36 to 60 months to a bankruptcy trustee (who divvies it among your creditors). At the end of your plan, any remaining debts are forgiven.
You do not forfeit any assets in a Chapter 13 bankruptcy, as long as you make your house or car payments. And as soon as you file, credit card companies, mortgage companies and all creditors must stop collection actions (including foreclosure and repossession) and harassing phone calls.
Who Is a Good Candidate for Chapter 13?
- People who are behind on their mortgage, but have sufficient income to pay back the arrears while making payments to a Chapter 13 plan
- People with substantial debts whose income is too high to qualify for Chapter 7 bankruptcy
Some clients need a little help in the early phases to meet the payments. We can file third-party affidavits with the Bankruptcy Court that allow your parents or others to contribute to your repayment plan.
Robert Lewis will run the numbers and help you determine if you can afford a Chapter 13 plan. With 20 years of experience, he can answer all your questions and guide you efficiently through the process.
Stop Foreclosure Now!
Call our Nyack office at 845-358-7100 or contact us online to arrange a free initial consultation and financial evaluation.
We are a debt relief agency. We help people file for relief under the Bankruptcy Code.
