Bankruptcy Options from a Westchester County Lawyer
If you are struggling to stay on top of all of your bills, including credit card or medical bills, you are not alone. Many Americans have multiple credit card debt, car loans, and even home loans that are in default. Some even have necessary medical bills in their stacks of unpaid and late bills. If you are living paycheck to paycheck and drowning in debt, it may be time to consider filing for bankruptcy. Bankruptcy Lawyer NY and Westchester County Lawyer are here to listen to your situation and to help you learn about your options.
Filing for bankruptcy can be quite a taboo subject in our society of instant gratification and self-sufficiency. But even successful businessmen and celebrities; such as Donald Trump, Walt Disney, Henry Ford, Henry Heinz, Debra Reynolds, and Milton Hershey have filed for bankruptcy and went on to lead normal and successful lives. The majority of bankruptcy filers will tell you that even though it was a stressful time, it helped them to get back on their feet.
White Plains Bankruptcy Lawyer, Westchester County Attorney and Westchester County Lawyers understand the financial strain you may be under. They are sensitive to your situation and realize this can be a difficult subject to explore. Usually it is a combination of bad luck and bad decisions that have gotten people to the point of considering bankruptcy. Attorneys like New York Bankruptcy Attorney and Attorney Westchester County understand this and are here to help you sort through your options in a non-judgmental way.
There are two main options for filing consumer bankruptcy; Chapter 7 and Chapter 13. Chapter 7 is meant for those who do not have enough disposable income to enter into a repayment plan of their debt. Disposable income is calculated by taking your income minus all necessary bills such as car payments, groceries, tuition, utilities, rent as well as other bills. This number has to be enough to fund a repayment plan in order to file for Chapter 13 Bankruptcy. After filing a Chapter 7 bankruptcy and going through the process, all debts, with the exception of a few, such as those owed due to illegal activity and student loans, are wiped out. Chapter 13 bankruptcy is also known as the wage-earners bankruptcy. This type of bankruptcy is for those people who do have enough disposable income to repay their debts. Chapter 13 is a debt restructuring plan that allows a filer to pay back certain debts in a structured plan over a 3 or 5 year period once confirmed by the bankruptcy y judge and trustee. Chapter 13 is also ideal for those people who know they want to keep their homes and can afford to do so.
If bankruptcy seems like it may be in your best interest, call Attorney Westchester County, Westchester County Attorney, or Bankruptcy Lawyer NY to learn more about your options. These experienced attorneys can advise you as to what chapter of bankruptcy might fit your financial situation, and get you started on a pathway to financial freedom that you have been longing for. Even though it is hard to take that first step, you will not regret doing so.
Debora Zelenetz is a Bankruptcy Lawyer NY whose practice is devoted to personal bankruptcy including Chapters 7 & 13. She helps individuals get their financial lives under control throughout Westchester County. Get a free consultation today from this White Plains Bankruptcy Lawyer and start getting your financial situation back under control and in the black.
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