Chapter 13 Bankruptcy
Florida Chapter 13 Bankruptcy Lawyers Helping You Reorganize Your Debt
A Chapter 13 filing may be right for you for a number of reasons, especially if you are fighting to pay your debt and you do not qualify for a Chapter 7 case. Chapter 13 bankruptcy can also help you if you own assets that would otherwise be liquidated in a Chapter 7 case, or if you want to restructure certain mortgages or car loans. A Chapter 13 debtor files a plan of reorganization that allows him/her to consolidate every bill into one monthly payment that is supervised by the court. A Chapter 13 debtor is allowed to keep his/her assets and pay creditors with lower or no interest accruing, and the process can stop foreclosures, collection lawsuits, and repossessions.
If you think Chapter 13 bankruptcy might be a beneficial choice for your financial situation, our firm is prepared to help. At LSS Law, we can thoroughly review your finances, assist you with reorganizing your debt in a manageable Chapter 13 plan, and are by your side every step of the way.
Chapter 13 Plans
The Chapter 13 plan sets forth how the debtor intends to fully or partially repay creditors. Beginning 30 days after the Chapter 13 case is filed, the debtor makes monthly payments to the Chapter 13 trustee, who is responsible for distributing the funds to the debtor’s creditors as set forth by the plan. All of the debtor’s “disposable income” must be used to pay the creditors. Disposable income is the amount left over after paying necessary expenses. The plan must also pay the unsecured creditors at least what they would have received if the debtor had filed a Chapter 7.
When is a Chapter 13 Filing the Best Option?
There are numerous circumstances where filing a Chapter 13 case may be the best option for you, including:
- If you have a large amount of non-exempt assets that you want to keep
- If you are past due on your mortgage or car loan payments and you need time to catch-up before foreclosure or repossession occurs
- If the value of your real or personal property is such that you can eliminate (“strip off”) or reduce (“strip down”) secured debts against the property
- If you have debt, such as certain tax obligations or student loans, that cannot be discharged, you can include these debts in your Chapter 13 plan and pay them off over time
- If you have a co-debtor on a personal loan that you want to protect (in a Chapter 13, the creditor is being paid under your plan, so the creditor must leave your co-debtor alone)
We help individuals take advantage of their rights under the bankruptcy laws to restart, rebuild, and recover. Let our knowledgeable bankruptcy lawyers help you determine whether a Chapter 13 bankruptcy is the best option for you.
Obtain Guidance and Advice from Our Experienced Bankruptcy Attorneys
Don’t jeopardize your home or your financial future by putting them in the hands of an inexperienced attorney. Hire our bankruptcy lawyers and trust your case to a team with a record of success. We have ample experience working with a variety of Chapter 13 bankruptcy issues, and we can help resolve complex debt issues to help you get back on track.
“Excellent company to work with providing timely advice and guidance.”
“.... very attentive, patient and knowledgeable”
“Well prepared, great attention to detail, and very empathetic to my needs.”
“I felt extremely well represented [by LSS Attorneys] during the whole process.”
“[A]n amazing attorney to work with, extremely thorough, hands on and always available for any questions or concerns that you have.”