Expert Chapter 13 Bankruptcy Solutions for Rockland County Residents

Facing overwhelming debt but don’t qualify for Chapter 7? Chapter 13 bankruptcy offers powerful reorganization tools to protect your Rockland County home, car, and future. At The Silk Cooper Law Firm, P.C., Attorney Paul Silk Cooper brings over 28 years of experience successfully guiding individuals through Chapter 13 proceedings. Unlike Chapter 7 liquidation, Chapter 13 lets you keep your assets while repaying debts through a 3-5 year court-approved plan. Located at 151 N Main St, New City, NY 10956, we’re your trusted local partner for Chapter 13 bankruptcy in Rockland County. Contact us today to stop foreclosure and wage garnishment.

Why Choose Our New City Chapter 13 Bankruptcy Attorney?

  • Proven Timing Expertise: 28+ years perfecting filing strategies to maximize debt discharge and mortgage modification eligibility.

  • Second Mortgage Stripping: Successfully convert underwater second mortgages to unsecured debt, saving clients thousands.

  • Student Debt Solutions: Expert arguments to exclude student loans from debt limits, keeping you eligible for Chapter 13.

  • Local Rockland County Knowledge: We understand Rockland County courts, trustees, and community financial challenges.

Understanding Chapter 13 Bankruptcy vs Chapter 7

Chapter 13 = Reorganization | Chapter 7 = Liquidation

  • Income Too High for Chapter 7? If you fail the means test, Chapter 13 is your path to debt relief while keeping assets.

  • Recent Chapter 7 Discharge? Wait 4 years, then file Chapter 13 to discharge new debts.

  • Keep Your Home & Car: Secured creditors receive full payments outside the plan—no repossession threats.

  • 3-5 Year Repayment Plan: Budget necessities first, then pay unsecured creditors pro-rata through the Trustee.

Debt Limits: $1.15M secured debt | $465K unsecured debt (we solve student debt limit issues)

When Rockland County Residents Need Chapter 13 Bankruptcy

Chapter 13 becomes essential when:

You Fail the Chapter 7 Means Test

  • Household income exceeds Rockland County median ($95K single, $125K family of 4)

  • Disposable income available for creditor repayment

  • Solution: Our attorney builds a budget prioritizing family necessities, minimizing creditor payments

Protect Your Assets from Liquidation

  • Home equity exceeds homestead exemption ($170,825 in NY)

  • Multiple vehicles or valuable personal property

  • Business equipment needed for employment

Stop Foreclosure & Repossession Immediately

  • Automatic Stay halts all creditor actions upon filing

  • Secured creditors paid directly—no risk of losing home or car

  • Cramdown options reduce car loan balances to current value

Our Chapter 13 Bankruptcy Services for Rockland County Clients

The Silk Cooper Law Firm, P.C., provides comprehensive Chapter 13 representation tailored to your financial situation:

Second Mortgage Stripping

Convert underwater 2nd mortgages to unsecured debt:

  • If 1st mortgage = 100%+ of home value, 2nd becomes unsecured

  • Pays only pro-rata share through 3-5 year plan (often 0-10%)

  • Saves Rockland County homeowners $50K-$200K

Student Debt Limit Solutions

90% success rate excluding student loans from unsecured debt limits:

  • Legal arguments based on non-dischargeable debt treatment

  • Keeps clients under $465K unsecured debt threshold

  • Preserves Chapter 13 eligibility when over limits

Strategic Filing Timing

Maximize benefits through perfect timing:

  • Post-Chapter 7: File after 4 years for new debt discharge

  • DTI Reduction: Discharge unsecured debt first to qualify for mortgage modification

  • 3-Year vs 5-Year Plans: Higher repayment % = shorter plan duration

Plan Length Optimization

  • 3 Years: Above-median income, 100% repayment

  • 5 Years: Below-median income, lower % repayment, or valuable assets to protect

  • Court Preference: Longer plans when discharging large debt while keeping nice residences

Debt Limit Challenges & Solutions

Common Problems We Solve:

Issue

Limit

Our Solution

Student Loans

$465K unsecured

Exclude via legal argument

2nd Mortgage Strip

Pushes over limit

Strategic timing or Chapter 11 conversion

Business Debt

$1.15M secured

Separate personal vs business filings

Chapter 13 vs Chapter 11 Decision: When debt limits exceeded, we analyze creditor-favorable Chapter 11 rules vs Chapter 13 protections to maximize your benefit.

The Chapter 13 Repayment Plan Process

  1. Budget Development: List family necessities (housing, food, transportation)

  2. Disposable Income Calculation: Remaining funds after necessities

  3. Pro-Rata Distribution: Unsecured creditors receive equal % share

  4. Secured Creditor Payments: Mortgage/car paid directly to avoid repossession

  5. Trustee Oversight: Monthly payments to Trustee for distribution

  6. Court Confirmation: 45-60 days after filing

Result: Debt restructured, assets protected, fresh financial start

Why Attorney Experience Matters in Chapter 13

Common Mistakes Inexperienced Attorneys Make:

  • File too soon after Chapter 7 (no discharge)

  • Miss student debt exclusion opportunity

  • Poor budget preparation (overpay creditors)

  • Fail to strip eligible second mortgages

  • Ignore DTI reduction for mortgage modification

Our 28+ Years Advantage:

  • Multiple successful student debt exclusions

  • Dozens of second mortgage strips

  • Perfect timing for maximum debt discharge

  • Rockland County court familiarity

Start Your Chapter 13 Reorganization Today

Don’t let high income or student debt block your fresh start. The Silk Cooper Law Firm, P.C., specializes in Chapter 13 bankruptcy for New City and Rockland County residents. Contact Attorney Paul Silk Cooper for a confidential consultation. We’ll:

  1. Run Your Means Test immediately

  2. Identify Second Mortgage Strip Eligibility

  3. Exclude Student Debt from limits

  4. Build Your Optimal 3-5 Year Plan

Call now—before foreclosure or repossession. With 28+ years perfecting Chapter 13 strategies, we’re ready to protect your Rockland County assets today.

Family Court

Practice Areas