Westchester County Bankruptcy Attorney
Did you know that if you live anywhere in Westchester County, New York or have most of your assets in Westchester County, the Bankruptcy Court you MUST go to is the White Plains Division of the U.S. Bankruptcy Court for the Southern District of New York*. The Court’s only other Divisions are located in Bowling Green and Poughkeepsie. Contact our Westchester County bankruptcy lawyer today.
You read that right.
The Bankruptcy Court for ALL of Westchester County is located in White Plains, New York at 300 Quarropas Street.
Why? Because Bankruptcy is handled exclusively by the Federal Courts and there are simply not as many Federal Courts as there are Local Courts. So even though every Town, Village and City in Westchester County has its own Court, the Federal Court in White Plains handles every Bankruptcy case in the County of Westchester.
So, it makes sense to contact a Bankruptcy Lawyer who is Close to the Court in White Plains, New York.
Westchester Bankruptcy Lawyer Michael H. Schwartz has been helping Westchester County consumers stop foreclosures, stop garnishments and unfreeze bank accounts for over 30 years. He has the skill and knowledge to make Bankruptcy a relatively easy and painless experience.
To learn more and join the more than four thousand individuals and businesses who have successfully taken advantage of his skills and experience – without one discharge being denied – contact the Westchester County consumer Bankruptcy Law Firm of Michael H. Schwartz, P.C.
Call us today at (800) On My Side or use our online form. We can provide a free and confidential evaluation of your case and get started right away on getting your life back on track.
How Can Filing for Bankruptcy in Help You?
The first major benefit of filing for Chapter 7 or Chapter 13 bankruptcy is that the court will issue an automatic stay, which is an injunction that effectively ends all actions brought by most creditors to collect debts. An automatic stay lasts throughout the duration of your bankruptcy case.
An automatic stay may also have the power to halt an eviction, foreclosure, or repossession of your residence. Evictions may not be avoidable through bankruptcy if a landlord has already secured a judgment.
Filing for bankruptcy may also help a person remain in a home they own, but the chapter of bankruptcy will ultimately determine whether the individual can actually keep possession of that home. Homes usually cannot be saved under Chapter 7, but a Chapter 13 repayment plan often allows a person to catch up on missed payments and keep their house.
While filing bankruptcy may initially have a negative effect on your credit score, completing the bankruptcy process successfully can ultimately help improve your credit score. In addition to discharging all debts involving late payments and high balances, filing bankruptcy usually helps improve a person’s debt-to-income ratio, which is a major factor in most credit decisions.
Unsecured debt, such as credit card bills, can often be discharged through Chapter 7 bankruptcy or repaid at a fraction of the total under Chapter 13. Secured debt may also be discharged, but property involved such as homes or automobiles may have to be given up in order to have the debt discharged.
What Can a Westchester Bankruptcy Lawyer Do for You?
Bankruptcy law is incredibly complex. You want to be sure you are working with somebody who understands how the law can most benefit you. Very few laypeople know how to prepare a bankruptcy petition, or what a meeting of the creditors actually entails.
An experienced attorney will be able to review your entire financial situation to determine whether you would benefit most from filing under Chapter 7 or Chapter 13. The distinction is incredibly important because each chapter has its own advantages and disadvantages. A person could end up in an even worse position if they choose the wrong chapter.
The first major benefit of hiring a Westchester County bankruptcy defense lawyer is that they will be able to file all of the required paperwork on your behalf, ensuring that all of this paperwork is properly completed. The attorney will also be able to represent you at all hearings that may be involved in your case, which could include confirmation hearings, reaffirmation hearings, or objections from creditors.
What Types of Foreclosure are Available in Westchester?
Foreclosure is typically considered either judicial or non-judicial. In a judicial foreclosure, a lender files a civil lawsuit against the borrower in the local court and seeks court approval to conduct a foreclosure action. A non-judicial foreclosure allows a lender to initiate foreclosure proceedings by virtue of a power of sale clause included in the mortgage or deed of trust.
New York is a judicial foreclosure state, which means that a lender must file a lawsuit against the borrower before foreclosure proceedings can begin. New York repealed its non-judicial foreclosure law effective July 1, 2009.
Judicial foreclosures are further divided into strict foreclosures and foreclosures by sale. With a strict foreclosure, the court will set a date by which the owner must pay the amount owed on a mortgage or risk having ownership of the property turned over to the lender.
A foreclosure by sale will involve the home being sold at an auction to the highest bidder. The lender often places the opening bid. These auctions are commonly referred to as sheriff’s sales.
Before a lender can file a lawsuit against a borrower, it must send them an acceleration letter. This letter usually informs a borrower that they must repay the entire amount of a mortgage if the amount in arrears is not satisfied by a specified date.
The lender is also required to send the borrower a special notice no less than 90 days in advance of filing a foreclosure summons and complaint. The notice is required to include a list of at least five nonprofit housing counseling agencies in the borrower’s vicinity.
When the lender files their initial lawsuit, they will usually record a lis pendens, which is a notice of a pending legal action. The lis pendens becomes a lien on the property and provides notice of a foreclosure auction.
The next step in the foreclosure process typically involves the lender filing an Affidavit of
Service, Request for Judicial Intervention (RJI), and Attorney Affirmation with the
court. A borrower then needs to file an answer to the summons and complaint with
the court within 20 days of receipt when served in person, or within 30 days if the summons and complaint were sent by mail or delivered in another way.
Can a Foreclosure Defense Lawyer Stop or Reverse a Foreclosure?
Filing for bankruptcy will stop a foreclosure proceeding, but it does not necessarily mean that a borrower is in the clear. Whether the borrower is filing under Chapter 7 or Chapter 13, the borrower will still need to resolve whatever mortgage arrears are at issue in order to regain ownership of the home.
A bankruptcy court generally cannot reverse a foreclosure sale when all state foreclosure laws were followed. Another possible way to stop a foreclosure is through a short sale, in which the borrower identifies a possible buyer of the home and seeks permission to sell the house to that party. It may also be possible to work out a deal with the lender to modify the terms of the loan and allow the homeowner to make payments and keep the house.
Bankruptcy law can be incredibly complicated, so it is in your best interests to discuss your case with a professional. An experienced Westchester County foreclosure defense lawyer will be able to identify all of your options and help you determine the steps you need to take to help secure your financial future.
Contact Westchester County Bankruptcy Lawyer Michael H. Schwartz Today!
Westchester County Bankruptcy Lawyer Michael H. Schwartz can help you with a Chapter 7, Chapter 13 or a Chapter 11 Bankruptcy filing. He has helped thousands of other people in similar situations, without one house lost in foreclosure and not one single discharge denied.
No one is happy about having to file Bankruptcy. Things beyond our control, such as the economy or illness often force people to make this difficult decision. At the law offices of Westchester County, NY Bankruptcy Attorney Michael H. Schwartz, we will not judge you or make you feel guilty about getting your fresh start.
Call today toll-free at (800) On My Side or fill out our online contact form. Any information you provide will be kept strictly confidential.