What does a Chapter 7 bankruptcy do for me?bankruptcy lawyer Albany

  • Stops the annoying and harassing phone calls
  • Stops wage garnishments and unfreezes bank accounts
  • A No Asset Case grants a full discharge of all credit card debt, medical bills and other
    unsecured debts
  • Allows a debtor to surrender a no longer affordable car and avoid collections
  • Allows a debtor to surrender a realty property to the bank and avoid having to back pay
  • Gives the debtor a fresh start in life


Why in some situations is it necessary to file a Chapter 13 instead of a Chapter 7 Bankruptcy?  bankruptcy lawyer Albany

  • The debtor’s income is above the state median for a Chapter 7 Bankruptcy filing
  • A debtor has a pending foreclosure and wants to keep his or her house
  • A debtor has a vehicle that is about to be repossessed and he or she wants to retain the vehicle
  • The debtor has a previously filed a Chapter 7 Bankruptcy within the statutory time and is therefore not able to file another Chapter 7 Bankruptcy

After a debtor files a Chapter 13 Bankruptcy , he or she is put on payment plan for a minimum of 36 months to a maximum of 60 months. During the 36-60 months, the creditors cannot attempt to collect on their debt. After the completion of the plan, the remaining unsecured is discharged by the Court. If a Chapter 13 Bankruptcy is dismissed for failure to make plan payments, the debtor is once again subjected to the collection practices of the creditors.

How is the payment amount determined?

This is a complicated process and only an experienced and competent attorney who specializes in bankruptcy should be handling this matter. In brief, a few factors are taken into consideration:

  • The debtor’s income
  • The debtor’s expenses
  • The number of dependents living in the household
  • The amount and type of debts of the debtor
  • Extenuating circumstances

Mansion Law Firm is a debt relief agency, and helps people file for relief under the bankruptcy code.

Contact Michael P. Mansion and Jodi L. Mansion today at our Albany Bankruptcy Lawyer office at: 518-785-4002 or email us at Help@MansionLaw.com. Or browse this site for more information about the bankruptcy lawyers or chapter 13 bankruptcy.