Top Bankruptcy Lawyers Syracuse, NY

Syracuse, NY Bankruptcy FAQs

• Where do I file for bankruptcy in Syracuse, New York?

  To initiate bankruptcy proceedings in Syracuse, you must submit your bankruptcy documents to the United States Bankruptcy Court located in the Northern District of New York. The court's physical address is: 100 S Clinton St, Syracuse, NY 13261.

• Where can I get bankruptcy forms in Syracuse, New York?

  To acquire a bankruptcy form in Syracuse, you can visit the United States Courts website at https://www.uscourts.gov/forms/bankruptcy-forms.

• Is it possible to prevent the foreclosure of your home in Syracuse by filing for Chapter 13 bankruptcy?

  Yes, by filing for Chapter 13 bankruptcy in Syracuse, you have the opportunity to catch up on any missed mortgage payments through a payment schedule, which helps protect your property from foreclosure. The prerequisites are that you have the ability to handle your regular mortgage payments after filing for Chapter 13 bankruptcy and that the bankruptcy filing takes place prior to the date of the foreclosure sale.

• Is retaining a non-exempt property in Chapter 13 bankruptcy allowed in Syracuse?

  Yes. For individuals in Syracuse with too much equity in their assets to file for Chapter 7 bankruptcy effectively without losing essential possessions, Chapter 13 is the preferred bankruptcy approach. The reason is that Chapter 13 is more focused on your income and expenses than it is on your possessions. You retain ownership of your belongings as long as the sum of your monthly payments made throughout the plan's duration equals the amount of the unprotected equity.

• When should someone choose to file for Chapter 11 bankruptcy in Syracuse?

  In Syracuse, individuals opt for Chapter 11 bankruptcy in situations where they require enhanced flexibility to achieve their specific goals. This could be because they are facing significant and complex business-related debts while possessing a substantial amount of assets or income. Chapter 11 bankruptcy is also a viable option for those who own a business that could be endangered by Chapter 7 or who do not meet the eligibility criteria for Chapter 7 or 13.

• Are you required to continue making bill payments after filing for bankruptcy in Syracuse?

  Yes. In Syracuse, it is necessary to continue making payments on secured debts like mortgages and vehicle loans if you wish to retain them. Ongoing payments are also required for non-dischargeable debts such as child support, student loans, and most taxes. For unsecured debts, including out-of-pocket expenses, personal loans, and credit card balances, you are no longer required to make payments.

• Why should you hire an attorney for your Syracuse bankruptcy case?

  When dealing with your bankruptcy case in Syracuse, it is advisable to consider engaging the services of a knowledgeable attorney to enhance the efficiency and effectiveness of your bankruptcy proceedings. An attorney possesses expertise in navigating potential challenges that may arise even in seemingly uncomplicated cases and stays updated on local court rulings and legal advancements. Moreover, an experienced attorney can prevent you from making mistakes that you might make if you were to handle the case by yourself.