Chapter 13 bankruptcy, often referred to as a wage earner’s plan, allows individuals with regular income to develop a plan to repay all or part of their debts. It is designed to restructure debt in a way that is manageable for the debtor, under the guidance and protection of the bankruptcy court. The nuances of… Read more »
Monthly Archives: November 2023
Is Child Support Affected by Bankruptcy?
Bankruptcy offers individuals a path to manage overwhelming debt. It involves two primary chapters: Chapter 7, which liquidates assets to pay off debts, and Chapter 13, which establishes a repayment plan. In New York, certain exemptions protect assets from liquidation, such as a portion of the equity in your home and personal items. But does… Read more »
Recent Comments