Assisting Buffalo Residents With Chapter 13 Bankruptcy Since 1980
Buffalo Chapter 13 Bankruptcy Solutions
For more than three decades, the Law Offices of Randy H. Gugino has helped residents of Buffalo and the greater Western New York community establish bankruptcy plans that allow them to pay back their creditors on a percentage basis over a period of time. This can be especially beneficial to individuals in the arrears on a mortgage, home equity loan or car loan. At the Law Office of Randy H. Gugino, we understand that bankruptcy law can be complicated and confusing – which is why we thoroughly answer your questions and assist you at every stage of your case. If you are considering Chapter 13 Bankruptcy, Attorney Gugino can review your case and determine if Chapter 13 is your best option based on your unique circumstances. We offer free consultations and would be happy to review your case and provide the guidance you need.
What is Chapter 13 Bankruptcy?
Debtors who wish to file bankruptcy in Buffalo have a few different options. While Chapter 7 discharges your debts, Chapter 13 allows you pay back a portion of your debts over the course of three to five years. When you file a Chapter 13 or Chapter 7 Bankruptcy, an automatic stay is issued, which helps you to stabilize your financial situation. An automatic stay also helps to stop the harassing phone calls, wage deductions, vehicle repossessions and foreclosure proceedings.
Chapter 13 Bankruptcy Can Help Stop:
- Harassing phone calls
- Wage garnishments
- Foreclosure actions
- Creditor lawsuits
Bankruptcy Attorney Randy H. Gugino will create a payment plan that allows you to pay your loans back in three to five years.
What are the common reasons for filing Chapter 13 bankruptcy?
Chapter 13 Bankruptcy is not for everyone. Prior to filing for Chapter 13, you should speak with a knowledgeable bankruptcy attorney to ensure this is the best option for you.
Below are some of the reasons Chapter 13 may be the best bankruptcy option for you:
You do not qualify for Chapter 7: If you earn more than the median average salary in New York, you may not be able to file for Chapter 7.
You are worried about losing your property: If you are behind on your mortgage or car payments, filing for Chapter 13 will allow you to set up a more affordable payment plan that allows you to keep your property and pay off your debts.
- Chapter 13 Bankruptcy can also help stop vehicle repossessions.
- Chapter 13 Bankruptcy can also help stop foreclosure proceedings.