When falling on hard times, Chapter 13 bankruptcy provides individuals, couples, and small businesses with an opportunity to pay off all or a portion of their debts over three to five years without surrendering their property. More specifically, your monthly debt payments will be re-structured in a way that ensures payments will be affordable within your budget.
Chapter 13 bankruptcy is advantageous in that it provides homeowners with an opportunity to prevent their homes from foreclosure. Rather than the lender forcing you from your home, you can make delinquent mortgage payments over time, and continue to live in the home that you worked so hard to own.
Please note that, if you do not qualify for Chapter 7 bankruptcy protection, you can still file for Chapter 13. A qualified bankruptcy attorney will help you determine which would be your best option.
If you need help understanding the bankruptcy laws or filing for Chapter 13 bankruptcy, please call or email me, or you can fill out the form below. I am located in Buffalo, NY and focus on bankruptcy related cases. I personally handle each of my clients' cases, so you never need to worry about being treated like just another number or being handed off to a junior attorney.
Contact the Law Office of Thomas Denny in Buffalo NY for further information about filing for Chapter 13 bankruptcy.