New York Chapter 13 Bankruptcy Lawyer

New York Chapter 13 Bankruptcy - Adjustment of Debts of an Individual with Regular Annual Income - provides debt relief for individuals (consumers). New York Chapter 13 Bankruptcy differs from Chapter 7 in the respect that it enables the debtor to keep valuable assets, like a house, while making payments to creditors (through the trustee) based on the debtor's anticipated income over the life of the plan, usually three to five years. At a confirmation hearing, the court either approves or disapproves the plan, depending on whether the plan meets the Bankruptcy Code's requirements for confirmation.

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Some common New York bankruptcy issues include the following:

United States Bankruptcy Courts
Federal courts have exclusive jurisdiction over bankruptcy cases. Bankruptcy cases cannot be filed in state court. Each of the 94 federal judicial districts handles bankruptcy matters
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