Contact a Manhattan, New York Debt Relief Lawyer ◦ Consider Chapter 13 Bankruptcy
If you and your debt relief attorney determine that bankruptcy is the most desirable
option for you when you are in over your head in financial obligations, you must
then determine which form of personal bankruptcy ― Chapter 7 or Chapter 13
― is right for you.
Dispel
myths of bankruptcy. Talk to a Manhattan
chapter 13 bankruptcy lawyer at Dwyer & Associates, LLC, who
is knowledgeable and equipped to help you navigate the waters of Chapter 13 bankruptcy
as smoothly as possible.
Chapter 7 bankruptcy
is also known as "debt discharge" bankruptcy. Most of your unsecured debts
are eliminated when a Chapter 7 filing is completed. Your total income and assets
will determine whether you qualify for Chapter 7 bankruptcy.
Chapter 13 bankruptcy, on the other hand, is known as "debt
restructuring" or "rehabilitation." In a Chapter 13 bankruptcy, the
court will determine a repayment plan for you over a three to five year period.
Normally, the total amount owed is reduced and interest rates are significantly
reduced or eliminated. Chapter 13 bankruptcy is most often appropriate for high
income earners with multiple residences or properties.
People nearly always want to know
what property they can keep in a Chapter 13 bankruptcy. The answer varies,
but typically in a Chapter 13, you keep all of your property and agree to repay
the debt over a certain time period, typically three to five years. Contact Dwyer & Associates, LLC Manhattan,
New York, to discuss Chapter 13 as a solution to your need for debt relief.
Learn about the required means test that will help determine whether
you file Chapter 7 or Chapter 13 bankruptcy. Learn how to rebuild credit
during and after your Chapter 13 repayment period. Many people harbor the myth that
they will be unable to acquire new credit during a bankruptcy payoff period. In
fact, creditors tend to feel safe extending credit to people precisely during that
time because they know the debtors will be unable to file bankruptcy again.
Get answers and help with Chapter 13 bankruptcy and other debt relief solutions.
Contact Dwyer &
Associates, LLC to schedule a
free initial consultation in our Manhattan office.
We are a debt relief agency. We help people file for bankruptcy relief under the
Bankruptcy Code.
