New York Chapter 13 Bankruptcy Lawyers Helping You Protect Your Assets
When struggling with heavy debt in the Ulster County area, you might fear you will lose your car, home and other important assets. Chapter 13 bankruptcy may offer a way forward that lets you keep your property. As a knowledgeable Kingston Chapter 13 bankruptcy attorney team, we at Redder, Bock & Associates, PLLC, can help you pursue the tailored bankruptcy solutions you need to achieve financial stability and protect important assets.
How Chapter 13 Works
Chapter 13 bankruptcy involves forming a structured debt repayment plan. Under the plan, you will pay back a percentage of your debt over a set period of time (generally three to five years), with the remaining qualifying debt being discharged after the plan is completed. As experienced Ulster County debt repayment plan attorneys, we can guide you on whether Chapter 13 would be the right tool for you, given your debt relief goals.
Can Chapter 13 Bankruptcy Help Stop Foreclosure?
Yes, Chapter 13 bankruptcy can put the brakes on a foreclosure. Filing immediately triggers an automatic stay, which halts collection efforts, including foreclosure and repossession actions. The repayment plan can then give a homeowner the opportunity to catch back up with their mortgage payments.
Who Qualifies For Chapter 13 Bankruptcy?
Eligibility rules are one of the many areas in which Chapter 13 is considerably different from Chapter 7. There is no means test for Chapter 13. Rather, one of the main qualification factors is whether your total debt amount falls under certain maximum limits. Skilled Chapter 13 bankruptcy repayment attorneys can advise you on all the eligibility requirements, and whether you would qualify for this debt relief tool.
Contact Our Chapter 13 Bankruptcy Law Firm Today
Let us help you pursue a manageable debt repayment plan through Chapter 13 bankruptcy. Call us today at 845-853-0801 or email us to arrange a confidential consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.