Chapter 13 Bankruptcy

Chapter 13 bankruptcy may be a viable option for individuals who want to achieve debt relief but who do not qualify for Chapter 7, or who may want to protect certain assets such as a house or a car. Chapter 13 allows debtors to work out a payment plan with creditors to achieve debt relief and minimize the consequences of debt accumulation.

At the Law Office of Steven A. Campanaro, we are experienced in enabling our clients facing unmanageable debt restore their financial independence through Chapter 13 bankruptcy. Contact our law firm at (914) 686-0634 to schedule a free consultation with a White Plains Chapter 13 bankruptcy attorney.

What Is Chapter 13 Bankruptcy?

You may have heard Chapter 13 bankruptcy being referred to as "wage earner bankruptcy." Provided you have a regular source of income, Chapter 13 allows you to restore your financial independence through a payment plan while protecting your home, car and other assets. Thus, Chapter 13 bankruptcy allows you to:

• Achieve debt relief through payment plans and creditor negotiations
• Prevent foreclosure on your home or business mortgage
• Reduce fines through payment plans negotiated with your creditors
• Protect your car, home and other important assets from repossession or other creditor actions
• Get a fresh start and take action toward financial independence

Protection of Assets in a Chapter 13 Bankruptcy

Unlike a Chapter 7 liquidation, Chapter 13 allows insolvent debtors to keep large assets while paying sometimes only a fraction of what they owe. Debtors in Chapter 13 can prevent foreclosure and repossession and keep their property by entering into a court-approved payment plan in which they agree to repay some or all of what they owe over a three- to five-year period. Following acceptance and confirmation of the payment plan, if the debtor makes all required payments on secured and unsecured property he or she wishes to keep, the debtor is fully discharged.

Additional Bankruptcy Information

For additional information on whether bankruptcy might be right for you see our blog on the following topics:

Is Bankruptcy Right for Me?

Life After Bankruptcy

Our Firm's Detailed Bankruptcy Services and Representation

From your initial consultation through the final confirmation of your bankruptcy payment plan, we will remain available to answer any questions or concerns. Before pursuing bankruptcy, we will develop a plan with you to determine what assets need protection and what payments are feasible. If Chapter 13 is right for you, we will draft and file the petition, attend creditor meetings, and aggressively advocate for acceptance and confirmation of your payment plan. Once you complete your payments according to plan, you will be fully discharged from debt.

There are limits to the amount of unsecured and secured debts you may discharge. To speak with an experienced attorney to see whether you qualify for Chapter 13 bankruptcy and discuss a feasible plan, schedule an appointment with Steven A. Campanaro.

Affordable legal solutions for debt relief • Free initial consultation • Contact Steven A. Campanaro to speak with an experienced White Plains, New York, Chapter 13 bankruptcy lawyer. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.