John D.

Chapter 7 Bancruptcy Mr. Feinsilver has restored my faith in the fact that with the right lawyer the legal system can be in your favor. He is a busy man and sometimes getting him on the phone can take some time.... However, he has three offices and to be honest I didnt really need to call him in hindsight because he knows what he's doing and if he has any doubt he will be fast to respond. All in all I am happy to say that Richard did exactly what I paid him to do and everything spoken about in the initial interview was as easy and painless as he said, before and after the bancruptcy hearing.
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Anonymous

Bankruptcy Mr. Feinsilver is a caring, highly experienced attorney who helped me during the worst financial nightmare of my life. His caling manner kept me focused on what had to be done and he worked with me every step of the way to ensure that my case went smoothly.
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Bill

Experience!!!!!!! Knows how to navigate through difficult cases I used Rich back in 1995 when all all you need was a warm body to get you through the chapter 13 process . I needed his services 2nd time 2016 and Boy how the laws have changed . I hit road blocks everywhere The bankruptcy process now requests many many docs, records , statements etc. My case took 18 weeks to get confirmed , three trips to Islip , and weekly lists from rich for more docs to send the trustee . Rich was at my side through very difficult process . The thing I learned about rich Just let him do his Job !! He will get back to you if he needs you . My case would have crashed and burned with out His Experience
in navigating a very difficult chapter 13 case to confirmation . Thank You Rich !!!!!!!!
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Anonymous

Anonymous Richard is representing us in a Chapter 13 bankruptcy, something that we never anticipated going through. He quickly eased our feelings of embarrassment and reassured us that our decision was okay. He has handled everything very efficiently and is professional, compassionate, and a gentleman. We quickly realized that he is 100% sincere in his desire to help people in our situation. There is no judgment, no condescending comments-only compassion, reassurance, and, most importantly, education. He provides thorough explanations of each step as travel on this journey. We have sent him many emails (most were unnecessary) with simple questions and he always gets back to us right away. We would recommend him to anyone who needs help as we did. He is an outstanding attorney.
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John DiVello

Did exactly what he told me, very straightforward and honest. Would recommend for anyone trying to get over a chapter 7 bankruptcy.
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Keith

Feinsilver The Finest Attorney Available Mr. Feinsilver has worked on our bankruptcy back in 2007, was very professional,helpful, and kept us updated all the way. He explained our situation to us and what our options would be and gave us the best option for our situation. He stopped all the phone calls and after visiting several other attorney's Mr Richard Feinsilver was the best option the other attorneys did not give us the full information and fee's involved, Mr. Feinsilver went the distance and gave us a break down on pricing and it was itemized so MR. Feinsilver thank you for all your help, we would defiantly recommend you.
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Steve

One Efficient Lawyer! People were telling me how long and complicated a bankruptcy process could be, but when I met with Rich, I felt comfortable from the start and contrary to what people were telling me, Rich made this process go as smoothly as possible. There were no complications. I would highly recommend Rich Feinsilver if you are looking for a bankruptcy attorney in Long Island!
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Jessica

Fair and honest I found Mr. Feinsilver to be a very fair and honest lawyer. I consulted Mr Feinsilver regarding a bankruptcy for my business and he was very honest about the challenges that I would face and what the bankruptcy can and cannot achieve. I was convinced that this was the only way forward but after consulting with Mr. Feinsilver I have decided to hold off on bankruptcy. He could have easily taken my money and just filed the bankruptcy but instead he counseled me on what is in my best interest. Strongly recommend.
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William

Resolved a problem that everyone else could not!!!! After my case was confirmed for around six months I had a tax problem come up. I had endless calls with NYS Tax dept and trustee and all kept pointing the finger to each other !!!!
And i was stuck in the middle . I contacted Rich he made a few calls and resolved this in one day after I been trying for weeks and no other involved party had a clue on how to resolve this !!!!!!
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Should You File for Chapter 13 Bankruptcy?

For over 30 years, Richard S. Feinsilver, Esq, a reputable bankruptcy lawyer, has been helping clients throughout Long Island’s Nassau and Suffolk Counties, as well as Queens, take control of their finances and improve their monetary situations. If you’re considering filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy, you can count on the guidance of Mr. Feinsilver. His extensive experience and commitment to excellence, coupled with personalized attention to detail, are what set him apart from any other bankruptcy attorney in the area. With the representation of Richard S. Feinsilver, Esq, you can have confidence knowing that your finances will be directed back on the right track.

After searching “bankruptcy attorney near me” countless times and doing extensive research, you’ve found someone whom you would like to work with. When filing bankruptcy, one of the first things you and your attorney will discuss is which plan you should choose: Chapter 7 or Chapter 13. Many people opt for the former, as it fully wipes out any qualifying debts; however, for some, the latter may be a better option.

Could Chapter 13 bankruptcy be the right choice for you? Read on to learn more about this bankruptcy plan to determine if it’s the right choice for you.

Chapter 13 Bankruptcy Explained

Chapter 13 bankruptcy, also referred to as the wage earner’s plan, allows consumers to repay their debts. Together with your attorney, you will devise a plan to pay creditors all or some of the money that you owe them. These payments will be made in installments over a period of 3 to 5 years. Once your proposal is accepted, you will automatically be granted a stay, which legally prevents creditors from contacting you in an attempt to collect.

Benefits of Chapter 13

There are a number of reasons why consumers can benefit from Chapter 13 over the total liquidation of Chapter 7. Some of the advantages include:

You can retain your property. Perhaps the most notable benefit of the wage earner’s plan is that it can help debtors avoid foreclosure. Typically, lenders require borrowers to pay delinquent mortgage payments in-full; if they don’t, foreclosure proceedings will commence. If you are struggling financially and have amassed several late payments, paying the full amount probably isn’t possible. Through Chapter 13, you can establish a plan to repay your past-due payments, thus, you will be able to avoid foreclosure. You will be required to make the agreed upon monthly payments over the life of your wage earner’s plan, which will bring your payments current The same scenario can be applied toward car loans. This option is not possible under the Chapter 7 plan, as it does not permit consumers to make up delinquent payments.
Flexibility for unsecured debt. Under this plan, repayments for any unsecured debts are more flexible. For example, if you have any outstanding balances on your credit cards, they may be reduced under Chapter 13, and once the plan is complete, any balances that remain may be forgiven.
Manageability.The Chapter 13 plan is similar to a debt consolidation loan in that all of your debts are managed by a trustee. You will make a single payment, which will encompass all of the money you owe, to the trustee, who will then distribute the money accordingly. Many people find that it’s easier to manage a single payment than it is to juggle multiple payments.
Protection from creditors. As soon as your Chapter 13 plan is accepted, you will be granted an automatic stay. This stay prevents creditors from contacting you over the period of your bankruptcy plan. Furthermore, you will not have to contact creditors to make payments, as your trustee will handle them for you.

Eligibility Requirements

Only individuals may file for the Chapter 13 plan; businesses cannot. In order for consumers to apply for this bankruptcy plan, they must meet specific eligibility requirements. You will be eligible for this plan if:

You have steady income (retirement benefits and/or family assistance is acceptable), and it’s enough to cover the monthly payment that has been proposed over the duration of the plan.
Your income tax filings are current.
Your debts are within the limitations

You will need to submit official paperwork to verify that you meet these eligibility requirements. If you do, then you will be considered eligible and as long as the proposed plan is accepted, you can proceed with your repaying your debts.

In Chapter 13 the Right Option for You?

If you are interested in filing for bankruptcy but aren’t sure if Chapter 13 is the better option for you, contact Richard S. Feinsilver, Esq. With more than two decades of experience, he will help you weigh your options and make the best decision for your financial future. To schedule a consultation, call 516.873.6330 today!

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Should You File for Chapter 13 Bankruptcy?

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