Let's get started. The first question is "what is the difference between chapter 7 and chapter 13 bankruptcies?"
A chapter 13, on the other hand is a wage earner's bankruptcy where you pay back anywhere from a fraction of what you owe up to the full amount. Debtors may file a chapter 13, as opposed to a chapter 7, for various reasons such as they do not pass the means test or they are trying to save their home, and repay mortgage arrears.
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The second commonly asked question is "do I have to stand before a judge in a courtroom?"
That would naturally be uncomfortable, but the simple answer is no. You'll meet with a trustee assigned to your case at the Meeting of Creditors. The proven and effective A+ BBB Rated, Bankruptcy Lawyers in 11746, 11747, and 11750 in Huntington Station, NY will prepare you for the types of questions beforehand, so you'll feel comfortable by the time your court date arrives.
Homeowners specifically want to know if chapter 7 bankruptcy stops the foreclosure process, and can the bank still takes their house. When you file Bankruptcy, you receive an "automatic stay" on court actions such as foreclosures, and sheriff's sales. A creditor can still go into court and ask the bankruptcy judge for a "relief from stay", and if granted the creditor can proceed with court action to foreclose. In an effort to get in front of these potential and or existing issues, it's certainly in your best interest to make contact with a Bankruptcy Lawyer in 11746, 11747, 11750 Huntington Station, NY. at http://bankruptcylawyersinny.com/
This a great question when considering whether filing bankruptcy is right for you. "Can I keep some of my debts out of my bankruptcy?" Absolutely not! You must list all of your debts, as well as assets in your bankruptcy petition. Unfortunately, you are not allowed to pick and choose whom you want to pay back. You may still voluntarily pay back a creditor, such as a family member, once the bankruptcy is discharged and closed although you are under no legal obligation to do so.
Did you know that you can change your Chapter 7 Bankruptcy to a Chapter 13, and vice versa. In most cases you are permitted using a "motion to convert." In certain instances you may want to do so if you can no longer afford your chapter 13 plan payments. You may want to convert to a chapter 7 to discharge the debt. These are all items that Bankruptcy Lawyers in 11746, 11747, and 11750 Huntington Station, NY can address. A trustee may also make the motion to convert if he/she feels that you have money to pay back some of your debts in a chapter 13. This may happen in rare instances such as if a debtor fails to disclose all of his or her income in the bankruptcy.
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D.G Weber & Associates, P.C.’s specialization in Consumer Law, as well as its nationwide attorney network, has enabled the firm to successfully help homeowners avoid and stop the foreclosure process on a national scale. By utilizing the firm’s extensive experience and resources, D.G Weber & Associates, P.C. will implement any means necessary to achieve the objective of each case that it’s presented with.
Since our law firm has seen a lot of bad advice going to good people, we feel that there are some things that you should know before you hire a service to handle your case. Read our page on Why you should hire an attorney to see why hiring an attorney is advantageous for Foreclosure Defense, as well as our blog about the FTC's regulation on loan modification companies, to become more informed about foreclosure.