Filing for Chapter 13 Bankruptcy in New York
A leader in bankruptcy representation for more than a quarter century
Many honest debtors and wage earners are frustrated by the fact that they are able to pay some of their debts but not all of them. Because of unexpected medical expenses or other unforeseeable bills, some debtors cannot make their mortgage payments or pay their credit card debt. They may be worried about pending foreclosure, or their homes may already be at risk.
If your home is in foreclosure or soon will be, you need Michael H. Schwartz, P.C.. We are the largest bankruptcy filer in the White Plains Bankruptcy Court, and we can help you understand how Chapter 13 can save your home.
The Benefits of Chapter 13 Bankruptcy
Chapter 13 bankruptcy is often referred to as the wage earner's plan because it allows a debtor with a steady income the chance to create a repayment plan for debts.While Chapter 7 bankruptcy usually involves the sale of most of a person's property and assets to cover debts, Chapter 13 allows a debtor to retain more possessions and property.
One of the main benefits of Chapter 13 bankruptcy - and a main reason that many people file for it - is that it stops foreclosure dead in its tracks and gives homeowners the chance to repay their mortgage debt. This actually does work to save your home from foreclosure using protection offered under federal law.
Learn more about how bankruptcy can help.
Important Details about Chapter 13 and Foreclosure
You may have received an offer from your lender to refinance your mortgage loan in order to avoid foreclosure. Do not fall into this trap! Your lender does not actually hold the mortgage on your home. It is a waste of time to try and work out a new plan. The caller or lender is really the servicer for the trust that holds your mortgage as security for bonds that it issues on Wall Street. It is in the interest of the servicer to keep you in foreclosure as long as possible in order to generate bogus fees that are added to your mortgage. By filing for Chapter 13 bankruptcy, you can stop foreclosure and effectively secure a workable repayment plan.
You may have heard that the recent changes in bankruptcy law make it impossible for you to file for bankruptcy. This is untrue: You still have the right to file under the law, though qualifying is more complicated than before. Attorney Michael H. Schwartz can explain how the increased median income and the means test may impact your ability to file for Chapter 13 bankruptcy, and we can start the process right away if you qualify.
Contact Us for Help
Start right now to protect your home from foreclosure through Chapter 13 bankruptcy and an effective repayment plan. For a free initial consultation, call an experienced bankruptcy lawyer at Michael H. Schwartz, P.C. toll-free at (800) 666-9743 (800-On My Side) or contact us online.
Michael H. Schwartz, P.C.
One Water Street
White Plains, NY 10601
Phone: (914) 997-0071
(800) 666-9743
(800) On My Side
Fax: (914) 997-0536
The White Plains law office of Michael H. Schwartz, P.C. represents clients throughout New York State, including Westchester County, Rockland County, Putnam County, Orange County, Dutchess County, Long Island, the Bronx, Manhattan, Brooklyn, Queens, Staten Island, Nassau County, and Suffolk County.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
