Generally, Chapter 13 is most useful for those who own valuable property, such as a house, business or other valuable assets. Stopping the foreclosure process and repossession is easier than you might think. Immediately upon filing Chapter 13 bankruptcy, an automatic stay goes into effect, stopping your creditors from pursuing all collection activities. Chapter 13 allows you to pay off a portion of your unsecured debt in manageable payments over a three- to five-year period. Often, the total amount of debt is dramatically reduced.
In Chapter 13, one of the biggest challenges is producing the numerous documents required by the Chapter 13 bankruptcy trustee. As a former 20-year bankruptcy trustee, attorney Lawrence M. Klein can efficiently manage this aspect of the process for you, ensuring all documents are completed accurately and in a timely manner.
You likely have concerns about how bankruptcy will affect your credit score. Bankruptcy will not destroy your credit. Chapter 13 often allows people to start fresh and begin rebuilding their credit much sooner than they could have if they had not filed.
To get back on track with your finances, contact us online or call us locally at 845-565-2100. We offer free initial consultations to give you the opportunity to meet directly with our experienced Newburgh Chapter 13 lawyer.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.