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New York Bankruptcy Attorney

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Published on Oct 28, 2011

http://www.aaalawyer.com/

New York Bankruptcy Attorney

If you consult with a New York bankruptcy attorney who is aware of the latest laws and loopholes you will be able to save yourself much grief in these troubled times.

1. In a Chapter 7 Bankruptcy you may still be able to keep your home and eliminate most or all of your other debts. If you are current on your mortgage and your equity in your home doesn't exceed the allowed limits you may keep your home and eliminate unsecured debts such as credit cards, loans and medical bills. Fortunately now, it's easy to find bankruptcy lawyers in NY who can help your family with their unfortunate debt and credit situation.

2. The New York bankruptcy attorney, Jeffrey Peltz relates, "If you have a home or car in New Jersey that you don't wish to keep, you may be able to legally wipe out those debts in Chapter 7 Bankruptcy. If you qualify for a Chapter 7 Bankruptcy and own a house, condo, co-op, land or time share and don't wish to keep it, you can surrender your interest in these properties and not be responsible for the mortgage."

3. Chapter 13 Bankruptcy may allow you to eliminate much of your second mortgage or home equity loan. According to every informed New York bankruptcy attorney, in a Chapter 13 Bankruptcy if your first mortgage exceeds the value of your home and you have a second mortgage or home equity loan, you may be able to have the second mortgage turned into an unsecured loan. In the Chapter 13 plan you may then be able to have the court approve a plan in which you only are responsible for paying back as little as 10% of what was owed on the second mortgage or home equity loan.

4. If you have fallen behind in your mortgage and you consult with your NY bankruptcy lawyer you will discover that Chapter 13 Bankruptcy allows you the opportunity to keep your home and gives you time to bring your mortgage current. If you qualify for Chapter 13 Bankruptcy and you have fallen behind in your mortgage you can make a repayment plan to repay the arrears over a period of up to 5 years.

5.When you file bankruptcy with the help of bankruptcy lawyers in NY your creditors are stopped in their tracks. The moment you file a bankruptcy petition you received the protection of the federal court. An automatic stay is issued that prevents your creditors form garnishing your salary, freezing your bank account, removing money from your bank account, repossessing your car or foreclosing on your home.

These are the 5 secrets of your New York bankruptcy attorney.

If you need a New York bankruptcy attorney then you can access information from them immediately when you call the toll free number 1-855-625-0800 Attorney Jeff Peltz and his staff have helped more than 20,000 clients in the New York area.

Find out more about your bankruptcy options in New York at: http://www.aaalawyer.com

Read testimonials from New York lawyer, Jeffrey Peltz from his satisfied clients. http://www.aaalawyer.com/references.htm

The Causes Of Bankruptcy And Benefits Of Declaring A Person Bankrupt written by: okindaras

What is the meaning of Bankruptcy?

Bankruptcy is a kind of a legitimate proceeding that enables individuals to legally pronounce that they are incapable of paying the money they owe. There are several myths surrounding bankruptcy that result into people misinterpreting and misunderstanding the procedures of filing for bankruptcy.

Bankruptcy not only offers consumers a fresh financial start but also provides the chance to potentially pay back their debts in an organized manner.

Nowadays it appears that numerous Americans are battling in this poor economy and are searching for approaches to break unmanageable debts. For those in this position a Chapter 7 Bankruptcy, or fresh start Bankruptcy as it is regularly referred to, may be the most brilliant decision to prevent money related ruin and potentially lose everything. Bankruptcy was made by Congress to permit legitimate honest people a way out of unfavorable obligation. Bankruptcy and debt pardoning is even spoken of in the Bible. Truth be told, Chapter 7 Bankruptcy specifically, is the most well-known section of liquidation that account holders document. The term Chapter 7 is inferred from the part of the federal statutes of the Bankruptcy code.

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