How Do I Get Advice for Filing Chapter 13 in NY?

Chapter 13 NY is an opportunity to work hand in hand with creditors to get debts paid off faster. There are a variety of reasons to file Chapter 13 bankruptcy, including the simple reason that you have too much debt to maintain payments on outside of bankruptcy. Although Chapter 13 is a serious legal situation, it can be one of the best routes to take if you are struggling to make payments, may lose your home or you are unable to handle medical debt.

Finding Advice for Chapter 13 NY

In Chapter 13 bankruptcy, the bankruptcy filer asks the court to force creditors to work with the filer by allowing the filer to use a debt repayment plan that is more affordable. There are numerous reasons why it is critical for individuals to turn to an attorney when they are considering New York bankruptcy like this. If you need advice, a bankruptcy attorney is the best resource for obtaining that help. Keep the following in mind as you request more information.

• Discuss with the attorney if Chapter 13 or Chapter 7 bankruptcy is the right option for your situation. With a sizable homestead exemption and the ability to supplement NY exemptions with federal exemptions, filing Chapter 7 can help individuals to get out of debt faster.
• For those who have a significant income and significant assets that would otherwise be lost in the bankruptcy proceedings, it may be necessary to file Chapter 13 bankruptcy.  In New York, this amount is $46,320 for single filers.
• Discuss with the attorney what the monthly payment towards your repayment plan will be when filing Chapter 13. The bankruptcy trustee will need to approve this amount, but an attorney can give you a fairly good estimate of what the costs may be to you before you file.

Keep in mind that filing Chapter 13 NY is a big step with serious credit consequences. Ask an attorney about other options available to you. Also, you can gather more information about bankruptcy filings by simply contacting the US Bankruptcy Court's New York District Court specifically. However, this court may not be able to answer very specific questions. Most attorneys roll costs of the bankruptcy into the repayment plan, except for the minimal cost of filing.

Hiring an Attorney

There are many reasons to use an attorney. The first step is to learn more about your options. You can do that, often through a free consultation, by meeting with an attorney.