Legal Question in Bankruptcy in New York

Re: property liens and forclosures

Filing bankruptcy will stop foreclosure against the owner/debtor�s house. However, whether a debtor gets to keep his/her house depends upon what chapter of bankruptcy he/she files. Chapter 13 bankruptcy is typically used to accomplish this and requires that the debtor have regular income. If a debtor files chapter 13, he/she must be able to keep all current mortgage payments (1st mortgage and any junior mortgages, such as 2nd mortgage) current on a monthly basis each month going forward after filing bankruptcy. The arrears (i.e., past due portion of his/her mortgage) are cured over time through the debtor's Chapter 13 plan (over a period of 3-5 years). Whether a Chapter 13 case is feasible and will work in a particular debtor's situation depends on a number of factors, including generally his/her monthly income, monthly expenses, how much total debt he/she has of all types (i.e. secured debt subject to liens, priority debt -- such as taxes --, and unsecured debt), and the value of assets he/she owns and which of those assets are "exempt" in bankruptcy. This is a complicated area and depends on the specifics of each debtor's situation.

You can visit the Frequently Asked Questions on our website at

www.starrandstarr.com/faqs.htm for further info. about chapter 13 bankruptcy specifically and personal bankruptcy generally.

If you decide to file for bankruptcy it is definitely advisable to hire a competent bankruptcy attorney who is experienced in this area and not try to "do it yourself".

Feel free to contact me at 8888678165 for a free initial consultation.

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.

Re: property liens and forclosures

It depends. I need to do a thorough analysis of your situation.

I will be back in the office on April 12th. Please call me then. PLEASE DOWNLOAD AND FILL OUT THE FORM FROM MY WEBSITE.

I am happy to personally meet with you and discuss your situation with you to determine whether

Bankruptcy is the best option for you.

Let me help you work through this difficult situation, together.

Feel free to review my website at http://www.silverbankruptcy.com.

Please Download the Bankruptcy Checklist from here- http://www.silverbankruptcy.com/images/BankruptcyChecklist.pdf in the Get Started section.

Call Me For A Free Consultation.

If you do not have the free Adobe Reader, then Download it from the website and Install it by running it, and then go back to the website and download the checklist.

The purpose of the checklist, is to ensure that I have all of the necessary information in developing

a solution for your situation.

Please Fill out the Form, then Contact me for your Free Consultation.

I look forward to working with you.

My Office is Conveniently Located Near the Bankruptcy Court, where your Case will be heard.

Thank You

Jacob Silver

Attorney At Law

26 Court Street

Suite - 2511

Brooklyn, NY 11242

[email protected]

www.silverbankruptcy.com