Reorganize Your Debts to Make Payments Manageable
If your debts are overwhelming right now but you think you might be able to all or part of them back slowly over time, or if you have assets that you want to retain, Chapter 13 bankruptcy may be right for you. Chapter 13 bankruptcy offers you debt relief through reorganizing or restructuring your debts rather than through liquidating your assets.
Kathleen G. Cully PLLC has over 25 years of experience helping clients in Manhattan and the surrounding areas with financial matters Contact us online or call 212-447-9882 to discuss your situation and determine whether Chapter 13 bankruptcy is right for you.
Chapter 13 Bankruptcy
A Chapter 13 bankruptcy is best for people who cannot pay all their debts right now but think they will be able to pay all or part of them back over 3-5 years. It is also suitable if you have significant assets, such as equity in your home, that you want to preserve. Typically, you commit to a payment schedule in which you will be required to make payments on a portion of your debt over period of time.
During this time, you will be required to live on a budget that's largely mandated by legal guidelines and supervised by your bankruptcy trustee. Although it may seem restrictive, completing the process will help you regain financial stability. At the end of your Chapter 13 bankruptcy, any remaining debts will be discharged (with some exceptions such as child and spousal support) and you'll be able to rebuild your credit over time. You'll have a fresh start in your financial life.
Hire an Attorney
A Chapter 13 bankruptcy is a long and extremely complicated process often involving negotiations and disputes with your creditors and other parties. Also, due to changes in your circumstances or other factors, you may need to modify your Chapter 13 plan or even convert it to a Chapter 7 bankruptcy. An experienced lawyer can help ensure you understand your rights and the options available to you throughout the process.
Contact Ms. Cully online or call 212-447-9882 to schedule your free initial consultation and find the debt relief you have been waiting for.
Kathleen G. Cully PLLC
220 Madison Avenue #14B
New York, NY 10016-3415
Telephone: 212-447-9882 | Fax: 1-800-979-0423 | Toll Free: 1-866-604-7922
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