While a Chapter 7 bankruptcy can be had relatively quickly, the cost is the sacrifice of some assets.
In a Chapter 13 filing, you’ll be placed on a repayment plan to cover some or all of your current debts over a three- to five-year time frame instead.
Chapter 13 has a number of requirements that must be met before you can file, and eligibility is narrowed depending on the size of your debt burden, the stability of your income, and other factors.
Credit counseling from an authorized agency is required in the six months prior to filing.
An experienced bankruptcy attorney can help you understand what’s required of you, and develop a repayment plan that can clear you of debt without breaking your budget.
Call Zelenitz, Shapiro & D’Agostino today at 718-599-1111 and talk to a Queens bankruptcy lawyer for free.