Chapter 13 bankruptcy is significantly different from a Chapter 7 bankruptcy. A Chapter 13 is a reorganization of debt, allowing debtors to repay all or a portion of their debts through a Chapter 13 plan, while protecting property and personal assets. The concept is similar to debt consolidation, but unlike most debt consolidation programs, it permits debtors to pay unsecured debt (i.e., a debt that is not secured by property) down without accruing interest (student loans are an exception) and without having to deal with those annoying calls from debt collectors.
One of the biggest advantages of a Chapter 13 bankruptcy is that is many cases, we are able to eliminate home lines of equity and/or 2nd mortgages. To learn more, click here.
Under a typical plan, you make monthly payments to a court-appointed bankruptcy trustee for generally three to five years. The amount of your monthly payment is determined by several factors, such as the amount of debt you have, your ability to repay and the extent that you have assets.
The bankruptcy trustee distributes the money to your creditors. Please contact us if you would like more information about Chapter 13 bankruptcy. After all, the creditors have an army of lawyers. You deserve the same protection. To schedule your free consultation call us seven days a week, from 9am and 10pm, at 305-663-3281 or email at firstname.lastname@example.org. We look forward to helping in any way we can.
The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice, nor the formation of a lawyer/client relationship. The Bankruptcy Law Clinic has offices in both Miami, and Doral FL and assists clients with Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Foreclosure Defense and Debt Settlement in the areas of Miami, Doral, Miami Beach, North Miami Beach, Opa Locka, Hallandale, Hialeah and Hollywood Florida and the surrounding areas.