Speak to a New York bankruptcy attorney today to find out if you are a candidate for Chapter 13 bankruptcy. Chapter 13 is generally an option for individuals or married couples that have equity in their home, or any real property, and want to retain possession of it. They have a verifiable and regular income and are having difficulty keeping up with the payments on credit cards and other unsecured debts, although they are making some payments and are able to make their daily living expenses. Under Chapter 13 a person can keep their assets and a workable payment plan of 60 months, in most situations, is made to a trustee and distributed.
The plan is agreed upon between the debtors and the trustee. Creditors are forbidden to contact the debtor during the 60 month period. This is also an option for individuals or married couples who have gone into arrears on their mortgage, to afford them the opportunity to pay the past due payments over the term of the bankruptcy period.

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ersonal bankruptcy eligibility is generally something that one should discuss with an experienced New York bankruptcy attorney such as the Law Offices of Boris Nikhman PC. If an individual, or married couple, has unsecured debt which is overwhelming and they have no assets, other than basic needs, they are a good candidate for Chapter 7. If they retain unsecured debt of less than $360,475 and secured debt of $1, 081,400.00 or less, as prescribed
by law, and have a regular and steady income and equity in their home, they are a candidate for chapter 13. To make the best determination a person should first seek a qualified credit counselor and an attorney who specializes in bankruptcy.

At the offices of Boris Nikhman Law we understand the situations that can bring a person to the point where bankruptcy is the best option for them. For years we have successfully helped countless citizens as their New York bankruptcy attorney. When situations like job loss or medical bills are coupled with a large proportion of credit card debt, do not try to deal with the creditors unreasonable demands and harassing phone calls. Retain an attorney that will stop them immediately and find you the right solution to get your life back. Call the experts at the Law Offices of Boris Nikhman PC today and seize a new beginning and a new freedom from debt.