Attorney Works to Stop Foreclosure with Chapter 13 Bankruptcy

Westchester County bankruptcy attorney Bruce Bronson is committed to helping homeowners throughout the area stop foreclosure with Chapter 13 bankruptcy.
By: Bronson Law Offices
 
Jan. 14, 2011 - PRLog -- You may have heard that bankruptcy can stop foreclosure. But how does this work? What options do you have to save your home? Westchester County bankruptcy lawyer Bruce Bronson understands the myriad of issues that any homeowner may face when dealing with foreclosure proceedings. He is dedicated to providing guidance, information and legal counsel to help homeowners stop foreclosure with Chapter 13 bankruptcy: http://www.westchesterbankruptcylawfirm.com/Bankruptcy/Chapter-13-Bankruptcy.aspx

The right approach to save your home will vary depending on your unique financial situation, needs and goals. For some homeowners, Chapter 13 is the right option. So how does this work?

Chapter 13 is a form of bankruptcy that is often beneficial for debtors with steady incomes who have property and assets that need protection from the liquidation that occurs in a Chapter 7 bankruptcy. The debtor works out a payment plan to pay a portion or all of his or her debt over a period of 3 to 5 years. The payment plan is based upon the debtor’s disposable income, which is determined by subtracting necessary expenses from the debtor’s income. Some debtors may be required to file under Chapter 13 because they do not pass the Means Test, an evaluation of income that is meant to determine whether a debtor has the “means” to pay his or her debt under a Chapter 13 payment plan.

When a debtor files his or her bankruptcy petition, this places what is called an Automatic Stay on all debt collection proceedings against the debtor. This includes any lawsuits, such as foreclosure. Chapter 13 bankruptcy provides particular relief from foreclosure in that past due mortgage payments and penalties may be included in the debtor’s repayment plan.

If you are facing foreclosure in the Westchester County area and are considering your options in saving your home, do not hesitate to discuss the matter with an experienced attorney. A lawyer can help in the decision-making process and can also provide valuable protection to your legal rights through the entire bankruptcy process in order to help you save your home and discharge your debt.

Contact a Westchester County foreclosure lawyer today at http://www.westchesterbankruptcylawfirm.com/Contact-Us.aspx

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At the Bronson Law Offices, P.C. we represent debtors throughout Westchester County in filing for bankruptcy under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code. We help debtors throughout the Bronx, Queens, all of New York City, Rockland County, Westchester County and New Jersey. Completing a thorough and accurate assessment of a client’s financial situation and goals is a primary concern when we first work with a debtor to resolve his or her financial difficulties. Bankruptcy may be the right solution for a debtor who is overwhelmed with unsecured debt, is facing foreclosure or is dealing with wage garnishment, creditor abuse or repossession. It may offer a fresh financial start by eliminating all eligible debt. To find out more about our firm’s services and how filing for bankruptcy may affect you now and in the future, please contact our offices to schedule a free consultation or visit us online to learn more about this topic: http://www.westchesterbankruptcylawfirm.com/
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Source:Bronson Law Offices
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Tags:Foreclosure, Chapter 13, Bankruptcy, Westchester County, Lawyer, Attorney, Stop Foreclosure, Chapter 13 Bankruptcy, Firm
Industry:Foreclosure, Bankruptcy, Legal
Location:Harrison - New York - United States
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