White Plains, New York Chapter 13 Bankruptcy Attorney
Chapter 13 Bankruptcy may be a viable option for individuals who want to achieve debt relief but who do not qualify for Chapter 7, or who may want to protect certain assets such as a house or a car. Chapter 13 allows debtors to work out a payment plan with creditors to achieve debt relief and minimize the consequences of debt accumulation. At the Law Office of Steven A. Campanaro, we are experienced in enabling our clients facing unmanageable debt to restore financial independence through Chapter 13 bankruptcy.
What is Chapter 13 Bankruptcy?
You may have heard Chapter 13 bankruptcy referred to as "wage earner bankruptcy." Provided you have a regular source of income, Chapter 13 allows you to restore your financial independence through a payment plan while protecting your home, car and other assets. Debtors in Chapter 13 can prevent foreclosure and repossession and keep their property by entering into a court approved payment plan in which they agree to repay some or all of what they owe over a three to five year period. Following acceptance and confirmation of the payment plan, if the debtor makes all required payments on secured and unsecured property he or she wishes to keep, the debtor is fully discharged. Unlike a Chapter 7 liquidation, Chapter 13 allows insolvent debtors to keep large assets while paying sometimes only a fraction of what they owe.
Chapter 13 Allows You to:
- Achieve debt relief through payment plans and creditor negotiations
- Prevent foreclosure on your home or business mortgage
- Reduce fines through payment plans negotiated with your creditors
- Protect your car, home and other important assets from repossession or other creditor actions
- Get a fresh start and take action toward financial independence
There are limits to the amount of unsecured and secured debts you may discharge. To speak with an experienced attorney to see whether you qualify for Chapter 13 bankruptcy and discuss a feasible plan, schedule an appointment with Steven A. Campanaro.
Is Chapter 13 Bankruptcy Right for Me?
Compared to Chapter 7, there are many more things you need to take into consideration when deciding if Chapter 13 is an appropriate solution. As discussed above, Chapter 13 allows you to keep your major assets while at the same time have most of your unsecured debts discharged by paying your creditors a small percentage of what you owe through a court approved payment plan. This requires not only a sound analysis of your current assets, income and debt, but also of your future income and personal plans to assure fulfillment of your payment plan and financial objectives.
We will take the time to understand your unique concerns and objectives as you pursue bankruptcy options and alternatives. Our attorney will always provide honest, reliable recommendations remaining mindful of how your financial troubles arose and whether bankruptcy is the best solution. Many clients face bankruptcy as the result of a financial hardship such as a job loss or unexpected medical emergency. When you are in need of debt relief, do not hesitate to explore your options by contacting us.
From your initial consultation through the final confirmation of your bankruptcy payment plan, we will remain available to answer any questions or concerns. We will refer you to an approved debt counseling service prior to filing to ensure that you can secure lasting debt relief.
Before pursuing bankruptcy we will develop a plan with you to determine what assets need protection and what payments are feasible. If Chapter 13 is right for you, we will draft and file the petition, attend creditor meetings and aggressively advocate for acceptance and confirmation of your payment plan. Once you complete your payments according to plan, you will be fully discharged from debt.
For more information about Chapter 13 bankruptcy and whether it is right for you, contact our firm.
Affordable legal solutions for debt relief • Free initial consultation • Contact Steven A. Campanaro to speak with an experienced White Plains, New York Chapter 13 bankruptcy lawyer
Law Office of Steven A. Campanaro
244 Westchester Avenue, Suite 410
White Plains, NY 10604
Telephone: (914) 686-0634
Fax: (914) 684-9108
E-mail