The real estate market in Orange County, New York, has recently taken a significant hit. At the law firm of Lawrence M. Klein, we have seen an increase in clients who need our help to stop foreclosure. If you are worried about losing your house, you are not alone. While filing for bankruptcy might seem like an extreme last resort, we're here to tell you that it has been an extremely effective option for hundreds of our clients.
Immediately upon filing Chapter 13 bankruptcy, an automatic stay goes into effect, stopping your creditors from pursuing all collection activities. This includes the Internal Revenue Service (IRS) the state of New York and any other government agency, bank or creditor. If you have received a summons for a collections lawsuit, these activities will also halt. Many of our clients are relieved when the creditor harassment stops. You will no longer receive calls or letters from nasty creditors.
When your Chapter 13 repayment plan is approved by the court and you make the regularly scheduled payments, the foreclosure proceedings will stop permanently and you will keep your house. Even if you are behind on your mortgage, the mortgage arrears can be included in your repayment plan, allowing you to catch up on your payments and stay in your home.
Contact us to find out more about bankruptcy and foreclosure in Newburgh. To discuss your legal needs with an experienced bankruptcy lawyer in a free consultation, call our law firm locally at 845-565-2100.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.