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Chapter 13 Bankruptcy in Central New York and the North Country

Chapter 13 Bankruptcy

If you are struggling with monthly credit card payments, mortgage arrears, or tax debt that you can’t seem to get ahead of, filing for Chapter 13 bankruptcy can help you make progress toward a stronger financial future. Often referred to as “reorganization bankruptcy,” Chapter 13 allows you to establish a repayment plan to gradually pay off a percent of your debt while protecting you from foreclosure, eviction, repossessions, wage garnishment, and lawsuits. Grady BK, PLLC strives to provide exceptional legal guidance to individuals struggling with debt. Together, we’ll determine the most strategic path forward aimed at giving you the second chance you deserve.

Smiling couple budgeting at large dining table

Who Files a Chapter 13

There are many reasons you would want to file a Chapter 13 bankruptcy: To pay back mortgage arrears, property taxes, income taxes, or to restructure your car loan, to name a few. If your household income is over the state median income for your household size, you would also look to a Chapter 13 bankruptcy to give you your fresh start. I can help you assess your current situation to determine whether a Chapter 13 bankruptcy is right for you.

Establishing a Payment Plan

When you file a Chapter 13 bankruptcy, you make a monthly payment to a bankruptcy trustee and pay back a percent of your debt over a 3- to 5-year period. The percent you pay back is based on your specific situation but is typically less than 100 percent. In fact, most of my clients pay back less than 40 percent of their debt. The rest of the dischargeable debt gets wiped away at the end of the bankruptcy. I understand how intimidating this aspect of the process can be and the biggest concern is, “What if I can’t afford the payment?” There are many factors that go into determining the monthly payment to the trustee, and I will let you know what you could change to reduce that payment. Together, we’ll assess your needs and create a manageable payment plan that enables you to pay back your debts comfortably.

Customized Legal Guidance

At Grady BK, PLLC, your needs come first. Financial matters can be highly personal and sensitive, which is why I remain committed to serving you with the compassion and care you deserve during this stressful time. You will receive advice specifically tailored to your situation. What’s best for someone else may not be what’s best for you. My goal is to provide you with all the information and tools you need to navigate this process with confidence. Together, we’ll lay a solid foundation to ensure you receive your fresh start and begin rebuilding your credit.

Get Your Free Phone Consultation

Speak to a dedicated bankruptcy attorney today by calling Grady BK, PLLC at (315) 299-9005.