Queens Chapter 13 Bankruptcy Attorney
Here to Help When You Need It Most
If you are struggling to pay your debts, Chapter 13 bankruptcy may be the solution you need to start regaining control of your finances. Our experienced bankruptcy attorney can guide you through the filing process and help you set up a repayment plan.
Benefits of Chapter 13 Bankruptcy
Chapter 13 bankruptcy is best known for enabling individuals and couples to keep their property as they continue to make payments on their debts. Eligible persons must have a regular income and pass the means test.
A typical repayment plan lasts three to five years. The time period is determined based on the individual’s income and is intended to allow him or her to make payments according to what they can afford.
There are several advantages of filing for Chapter 13 bankruptcy, including:
- Stops collection actions by creditors
- Ends wage garnishments
- Prevents foreclosure
- Allows a person to stay in their home
- Provides a structured way to repay debts
- Enables tax debt repayment or even elimination
- Shows up on a credit report for seven years (three years less than Chapter 7)
- Allows individuals to reschedule most secured debts
There are, of course, some downsides to filing for this type of bankruptcy. First, while you are in bankruptcy, you will not be able to incur new debt. Also, you are not permitted to sell or transfer any property without court approval. Further, Chapter 13 bankruptcy will remain on your credit report for seven years.
What Qualifies You for Chapter 13?
Before filing for Chapter 13, understand that not everyone is eligible to file. In order to file, you must fulfill the requirements.
To qualify for Chapter 13 you must be able to prove:
- That your income tax filings are current. Provide documentation for the last 4 years.
- That you have sufficient disposable income to repay your debts and live comfortably.
- That your debt is within the limitations.
- That you are not filing for Chapter 13 due to owning a business that is in debt.
If you are unable to prove these, your bankruptcy case will be dismissed. If you have documentation for these, reach out to a qualified Chapter 13 bankruptcy attorney in Queens like Attorney Seni. He can help you get started on your filing today!
We Can Help You File for Bankruptcy
Although bankruptcy should always be a last resort, the process has changed a lot of people’s lives for the better. When you come into the Law Office of Seni Popat for your free consultation, we can help you understand the advantages and disadvantages of filing for Chapter 13 bankruptcy in Queens.
For answers to questions, reach out to our experienced bankruptcy lawyer at (718) 340-3385 today.
I had the pleasure of working with Seni Popat. He is a Top Professional!- I Gie – via Google
Law Office of Seni Popat is the place to get help.- Willie Kornegay - via Google
He is very knowledgeable, professional, helpful and was readily available to guide me and advise me through the filing process.- James Potter - via Google
Seni was absolutely fantastic.- Nicole H. - via Google
Mr. Seni Popat is THE BEST bankruptcy lawyer there is.- Yasmeen Smith - via Google