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The Advantages of Filing for Bankruptcy

bankruptcy court

Orange County and Hudson Valley Bankruptcy Lawyers

If you are tired of worrying about mounting debt and your ability to pay your bills, you may feel like you have nowhere to turn. For many individuals and families, filing for bankruptcy protection is the best way to achieve a fresh start. As you explore your options, it is important to seek the advice of an experienced bankruptcy attorney.

At Silver & Lesser, P.C., in New Windsor, New York, our experienced lawyers can help guide you through the bankruptcy process, protecting the things that are important to you. To discuss your bankruptcy options with an attorney, call us at 845-562-9020 or contact us online.

The Automatic Stay

One of the most prominent advantages for filing for Chapter 13 or Chapter 7 is that it triggers an “automatic stay” against the collection of pre-filing debts which will delay and may even stop foreclosures, repossessions, garnishments, utility shut-offs and debt collection activities.

The Discharge of Unsecured Debts

Both Chapter 7 and Chapter 13 eliminate most unsecured debts such as:
•    Credit card debt
•    Personal loans
•    Medical bills

Chapter 13 Can Help Avoid Foreclosure

Under Chapter 13, debtors are able to keep property such as a mortgaged house or a car. In order to file for Chapter 13, you must have regular income and be financially able to make monthly payments to a trustee on an approved three-to five-year repayment plan.

A Fresh Start

Perhaps most importantly, bankruptcy allows for the discharge of most unsecured debt, resulting in a fresh start. This can enable you to start the process of rebuilding credit and moving toward a better life for you and your family.

Contact Silver & Lesser, P.C.

To talk with one of our New Windsor bankruptcy attorneys about how we can put our years of legal experience to work for you, contact us.