Hudson Valley, New York Bankruptcy Attorneys
Sometimes, for reasons beyond their control, people find themselves in bad financial situations that can only be solved by bankruptcy. At Silver, Forrester, Schisano & Lesser, P.C., we understand. Our experienced lawyers can help guide you through the bankruptcy process — protecting things that are important to you, like your family home, and focusing on a brighter financial future.
When we meet with you, we'll talk about which type of bankruptcy is right for you: Chapter 7 or Chapter 13. We will also review the steps for filing bankruptcy and advise you on putting together all the necessary information including your income, assets, liabilities, and exempt and nonexempt property.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is a type of liquidation that is preferable for many people. This type of bankruptcy excuses your debts and allows you to keep exempt property like your car, the equity you have in your home, your pension and much of your income.
If you make over the median income for a family of your size in your geographic area, you may not qualify for Chapter 7 bankruptcy. Instead, you may qualify for a Chapter 13 debt payment plan that requires you to give creditors some of what is owed.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a reorganization where you submit a payment plan to the court to pay all your debts over a three or a five-year period. A Chapter 13 bankruptcy is often an effective way to save your home from foreclosure. At Silver, Forrester, Schisano & Lesser, P.C., we can show you how.
Recent changes in bankruptcy law have increased requirements for people wishing to file bankruptcy. You may now be required to attend a credit counseling course, which is a simple educational session that may often be completed over the Internet.
Contact Silver, Forrester, Schisano & Lesser, P.C.
To talk with us about how attorneys at Silver, Forrester, Schisano & Lesser, P.C. can put years of legal experience to work for you, contact us at 845.764.4271 or toll-free at 866.687.1338.
