Bronx Chapter 13 Bankruptcy Lawyer

It’s possible to keep your home and manage your debt with Chapter 13 bankruptcy. This payment plan gives you a real chance to catch up on missed payments over time while protecting the things you’ve worked hard for. Many working families in the Bronx choose this option to get back on track without losing what matters most.

What Makes Chapter 13 Different

Unlike Chapter 7 bankruptcy, which clears debts by selling off assets, Chapter 13 lets you create a 3-5 year payment plan to catch up on what you owe. At Adon & Associates, we help Bronx residents decide if this “wage earner’s plan” is the right fit. You keep your property and pay back debts based on what you can actually afford.

Who Can File Chapter 13

• Regular income from work or business
• Unsecured debts under $419,275
• Secured debts under $1,257,850
• Current on tax filings
• No recent bankruptcy dismissals

These are just the basics. Your income also needs to cover your living costs and your payment plan. From Pelham Bay to Kingsbridge, we help clients figure out if Chapter 13 makes sense for their situation and goals.

Benefits of Chapter 13 Bankruptcy

Keep Your Property

• Stop foreclosure proceedings
• Catch up on missed mortgage payments
• Keep your car and other assets
• Protect co-signers on your loans

The automatic stay stops creditor actions and harassment as soon as you file. This gives you breathing room to reorganize your finances with a plan you can manage. Many Bronx homeowners use Chapter 13 to save their homes from foreclosure while catching up on what they owe.

Creating Your Payment Plan

Your Chapter 13 plan sorts creditors into groups based on the type of debt. Priority debts like recent taxes must be paid in full. Secured debts tied to property you want to keep must be caught up. Unsecured debts often get partial payment, based on what you can afford. Working with experienced bankruptcy attorneys helps make sure your plan is fair and realistic.

Life During Chapter 13

Making your plan payments on time is the key to success. The court-appointed trustee collects your monthly payment and sends it to creditors according to the plan. Most clients at Adon & Associates set up automatic payments to stay on track. While the plan takes discipline, many people find it’s less stressful than juggling multiple creditors.

Get Started with Chapter 13 Bankruptcy in the Bronx

Contact Adon & Associates at 718-275-1243 or schedule your free consultation to talk about your options and get started.