Legal Question in Bankruptcy in New York

Re: Should I file Chapter 13?

Chapter 13 bankruptcy is typically used to preserve a valuable asset where the debtor has fallen into arrears (i.e., default -- overdue) and is facing a foreclosure, repo, or eviction lawsuit. In chapter 13 bankruptcy the debtor keeps making current payments as they become due and cures the arrears over time through the chapter 13 plan. There is more info about chapter 13 on my firm�s website (see below for web address).

For a debtor with no valuable asset to protect, unless his/her income is above the level where he/she fails the "means test", or he/she would like to repay his/her creditors over time, it would be advisable for him/her to file chapter 7 bankruptcy. There is more info. about this on our website (see below). Also, student loans are "nondischargeable" in bankruptcy (subject to certain exceptions).

Please visit the Frequently Asked Questions (FAQs) on our website at www.starrandstarr.com/faqs.htm for further info.

Depending on your income versus expenses, credit counseling may also be a good alternative to bankruptcy that you may want to explore. You can check out GreenPath Debt Solutions (www.greenpath.com) or Money Management International (www.moneymanagement.org). They are both legitimate organizations that have been approved by the U.S. Trustee's Office (branch of the U.S. Dept. of Justice) to provide pre-bankruptcy credit counseling, although some of their counselors are better than others.

Please feel free to contact us during normal business hours to schedule a free initial consultation regarding your bankruptcy and non-bankruptcy options at 8888678165.

Nothing in this response to your posting on Law Guru is intended or should be considered as legal advice to your specific situation. Our posting is intended to provide general information of interest to the public. Facts relevant to your situation and not disclosed in your posting may affect your specific legal rights and remedies.

Good luck.