Chapter 13

New Yorkers who are struggling every day in a tumultuous economy have hard choices to make. Between paying the mortgage, car payments and other bills, or putting food on the table, people can become buried under impossible debt and feel helpless at finding a solution....

Filing for Chapter 13 bankruptcy is not an easy choice to make. You carefully examine your finances, your income and assets and sometimes putting yourself on a restructured payment plan through Chapter 13 makes the most sense. But life changes, and so can your...

Filing for Chapter 13 bankruptcy is a powerful option for someone being overwhelmed by debt. It gives you the chance to organize your finances and prepare a plan, approved by the bankruptcy court, to deal with your debts. If you own a home which is at risk of...

Filing for Chapter 13 bankruptcy can be a blessing in disguise. While it may have a negative stigma in some circles it is a responsible and viable way to pay down your debts in a manageable manner. However, it is important to note that not all debts can be discharged...

Financial stress is a heavy burden that many Long Island residents carry. When an individual holds significant debt and does not have the ability to pay off their obligations in full, they may turn to options like bankruptcy to help them move their life forward....

Many people living on Long Island, in Brooklyn or in other parts of New York City and the surrounding areas may have a second or third mortgage on their homes. New Yorkers take out these mortgages for a number of reasons. Sometimes, they are part of a plan to...

Many people who live on Long Island or Westchester County may start exploring bankruptcy because they are facing the prospect of losing their homes in foreclosure. Indeed, the thought of losing one’s residence can cause a great deal of fear and emotional distress,...

Chapter 13 bankruptcy differs from Chapter 7 bankruptcy in several important ways. One of those differences relates to the bankruptcy filers’ abilities to use their own income to pay off their debts. If a Long Island resident has some disposable income to dedicate to...

Individuals usually decide to declare bankruptcy after they have exhausted all other financial options. Bankruptcy allows people a fresh financial start, but with a cost. To satisfy as many outstanding debts as possible, banks may require an individual to liquidate...