Chapter 13 Bankruptcy Lawyer in New York City and California
The attorneys at the office of Pelton Serpe LLP, are skilled at handling many different types of bankruptcy matters. We utilize our experience and knowledge of bankruptcy issues to effectively assist clients in seeking the financial recovery they deserve.
What is Chapter 13 bankruptcy?
This type of bankruptcy is a proceeding whereby you pay back your creditors a certain percentage of your debt during the course of a Chapter 13 plan. This plan lasts between three to five years. A Chapter 13 bankruptcy filing remains on your credit record for ten years from the date of filing.
Typically, a debtor who wants to retain non-exempt property, such as a house or car, chooses to file for bankruptcy under Chapter 13. A creditor can retain non-exempt property by filing a Chapter 13 plan.
An individual who makes too much income to qualify for chapter 7 can also file for chapter 13 to wipe out credit card and tax debt over a three to five year period.
A typical Chapter 13 case commences with the filing of a petition with the bankruptcy court, and includes your attendance at a meeting of your creditors (referred to as the Section 341 meeting). The petition will contain information regarding your debt, income and property. You will also file a Chapter 13 plan of repayment of your debts.
At the meeting of creditors, which typically takes place within 30 to 40 days of your filing, you will be asked questions about the information in your petition by an attorney called a bankruptcy trustee.
This meeting will be followed by a confirmation hearing where the court will consider approval of your plan of repayment.
Our firm can help you deal with foreclosure issues.
You do not have to lose your home in a bankruptcy proceeding. It is possible for you to keep your home throughout the course of filing for bankruptcy. Our lawyers are skilled at providing clients with a range of options and education on how it is possible to avoid foreclosure.
Filing for bankruptcy is not right for everyone. A lawyer at our firm can assess your case and determine if seeking protection under bankruptcy is in your best interests. If it is not, our firm can help you understand your options and assist you in moving forward.
What is Chapter 11 Bankruptcy?
Chapter 11 is a proceeding for individuals or businesses with substantial debt and assets who need to restructure and liquidate their debt. This proceeding is optimal for an individual who has debt levels which exceed ceilings set for qualification to file Chapter 13 or for persons whose financial condition prevents them from filing either Chapter 7 or 13.
Our attorneys have substantial experience handling matters relating to Chapter 11, including having worked on Enron, WorldCom, Adelphia, Trump, United Airlines and Mirant bankruptcies.
Our attorneys have also successfully handled cases involving individual and business debtors in Chapter 11 proceedings.
Contact a Chapter 11 and 13 bankruptcy attorney at the office of Pelton Serpe LLP today to schedule your free initial consultation. Flexible appointment times are also available. Your case will be handled from beginning to end by a lawyer at our firm, not an associate or paralegal. Let us help you take control of your bankruptcy situation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
