Chapter 13 Bankruptcy and its Benefits

If you are in over your head with debt, and can’t pay your bills, filing for Chapter 13 Bankruptcy may be the solution to your problems. Although filing for bankruptcy is a scary thought at first, this tool is created to work with you and your debt instead of creating more.

Chapter 13 Bankruptcy makes way so that you and your family’s debts are adjusted according to your income. You can keep your property and have a three to five year window of time to pay back a portion of your debt without any interest or fees.

“What good is it if I’m still paying back my debt after five years?!” Chapter 13 bankruptcy allows you to pay what you can afford. You have the chance to meet with an experienced attorney who will sit down and map out what is possible to pay back with your income. It won’t be such that you’re expected to pay $2,000 dollars a month for example, and only get paid $1,500 monthly.

Secondly, your property is protected. Since you are making a working effort to pay back your debts, in most cases you won’t have to give up your car and your home won’t go into foreclosure.

Last but not least, after your three to five year time frame is up, debts you do not pay in full are discharged and forgiven. If you are considering filing for bankruptcy, hiring an experienced bankruptcy attorney is your best option. Pick someone who is knowledgeable, will let you know of your risks and who will walk you through the process with as much ease as possible. Contact Elaine Fridlin at Fridlin & Associates, P.C. to set up a free consultation today.

Fridlin & Associates, P.C.

1517 Voorhies Ave, Suite 4

Brooklyn, NY 11235

(718) 372-4400

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ElaineFridlinEsq.

Fridlin & Associates, P.C. is a financial law firm for individuals and small businesses in metropolitan New York. If you or your business face a problem concerning bankruptcy, debt settlement, loan modification program, the sale and purchase of residential or commercial real estate, landlord/tenant disputes, enforcing your rights as a creditor, the sale and purchase of a business, or employment litigation, Fridlin & Associates stand ready to provide the solution that protects your best interests. We can help you: Eliminate Debt! Stop Foreclosure! File for Bankruptcy! Apply for a Loan Modification Program! Stop Wage Garnishment! Stop Lawsuits! Eliminate Judgments! Eliminate or Reduce the second mortgage on your home! Reduce the mortgage on your investment property to its fair market value! Eliminate your obligation to pay creditors and medical expenses! Eliminate business loans! Release Frozen Bank Accounts! Stop harassing phone calls! Please call 718-372-4400 today for a free consultation. We have appointments available Monday through Friday and your first visit is free. Fridlin & Associates, P.C., also provides legal representation on wage dispute matters under the Fair Labor Standards Act in both federal and state courts. Learn more about Elaine Fridlin and Fridlin & Associates here. If you’re interested in bankruptcy as a potential solution to your debt management problems, you can learn more about bankruptcy for both consumers and businesses here.

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