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He went on to gain some priceless and much needed work experience before setting up the Law Office Of Michael Levitis. He is also an eminent member of New York and New Jersey Bar Associations. Law Office Of Michael Levitis is reputed for providing the best legal and sympathetic advice regarding filing for bankruptcy under chapter 7, 9, 11, 13, and 15. Their clients range from big financial corporate to medium, small and closely held corporations. Mr. Michael Levitis Esq.

Posted March, 2011 by Admin

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If you are involved in a chapter 13 bankruptcy and decide to file for divorce during the repayment period, you can choose to cancel or restructure the bankruptcy plan. By canceling, you agree to stop the agreed upon payment plan; however, all debt you and your spouse have assumed will still be your responsibility. If you choose to restructure the plan, it divides the plan into two cases – one for you and one for your spouse; you can then handle the bankruptcy separately from your partner. These cases can become complex if not handled properly and can cause a lengthy divorce if anything goes awry. It’s always best to speak with a bankruptcy attorney to see the best course of action for your situation. This means you get to keep everything but you have to pay back a percentage of your equity. It is also used for people who are in foreclosure or behind on their mortgage and in fear of foreclosure. This type of bankruptcy is for people who have an income too high to allow them to utilize the traditional chapter 7 bankruptcy. A chapter 13 requires a payback plan from between three to five years. The payment is monthly. The amount is determined, again, by the amount of equity you have accumulated in your life.

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The bankruptcy trustee will seize the bank accounts.

For full resume: uzanne Hazard is a Deputy Assistant Director in the Office of Oversight, Executive Office for United States Trustees, where she has worked since 1992.

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Posted February, 2011 by Admin

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