Home and Bankruptcy - A solution from Atty. Jeffrey B. Peltz for those filing in New York

One of the things dreaded by people filing for bankruptcy is losing their home. With the difficult state of the U.S. Housing market, it really is a dilemma to find a house that you can qualify to buy.

New York, NY (prHWY.com) June 13, 2012 - New York City, NY - One of the things dreaded by people filing for bankruptcy is losing their home. With the difficult state of the U.S. Housing market, it really is a dilemma to find a house that you can qualify to buy.  Filing bankruptcy may allow you to keep your home either by filing a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy.  In a Chapter 13 Bankruptcy you may even be able to greatly reduce your second mortgage or home equity loan.

In January 2011, the New York state government amended its laws to allow people filing for bankruptcy to keep more of their assets, including homes with more equity. For example, a married couple in New York City may keep with a house with as much as $300,000 in equity.

Recently bankruptcy trustees have been looking at the value of renters' apartments. If a landlord is willing to pay a large sum of money to the bankruptcy trustee to have the person filing Chapter 7 Bankruptcy to move, the person filing bankruptcy may be forced out of his or her apartment. This is an issue for people filing bankruptcy that have rent controlled or rent stabilized apartments. This has also been an issue for renters in buildings that have gone coop or condo.  Now more than ever, it is essential to have a highly experienced attorney, like Jeffrey Peltz, represent you in bankruptcy court.

"I think that New York legislators never thought that bankruptcy trustees would take debtors rental apartments as assets. However there are no protections in either the Federal or New York exemptions. When an owner of a home files bankruptcy New York offers generous exemptions. Why shouldn't renters be afforded the same protections?," says New York bankruptcy attorney Jeffrey B. Peltz, an expert in bankruptcy filing in New York. New York bankruptcy attorney  Mr. Peltz has been in contact with New York State legislators on correcting this situation.

The Law Office of Jeffrey B. Peltz has been offering legal assistance in filing bankruptcy applications and it has since provided help to over 20,000 clients in several neighborhoods of New York City including those in Long Island and the Lower Hudson Valley. Atty. Peltz finished his bachelor's degree from College of Staten Island and is a 1983 graduate of Pace Law School. He is a member of the New Jersey Bar and the New York Bar.  You may call attorney Jeffrey Peltz at (718) 625-0800 or go to his website at http://www.newyorkbankruptcyattorney.com/

Click here for more info

Law Office of Jeffrey B. Peltz, P.C.
Jeffrey Peltz
(718) 625-0800
jeff@aaalawyer.com
http://www.newyorkbankruptcyattorney.com/

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