Chapter 13 Bankruptcy
The two most common forms of bankruptcy are Chapter 7 and Chapter 13. Whereas Chapter 7 bankruptcy is considered a liquidation chapter, Chapter 13 is considered a consolidation and repayment chapter.
In a Chapter 13 case, we can file a three or five year debt repayment plan with a bankruptcy court on your behalf. The Chapter 13 Plan details which secured debts you intend to pay and cure, if applicable, or if you are unable to pay the secured debt, that you intend to surrender the collateral.
The Chapter 13 Plan will also detail the amount of your unsecured debt obligations that you are able to repay. Any amount of your unsecured debt that you show you are unable to pay, and which are dischargeable under the U.S. Bankruptcy Code, may be discharged upon completion of your Chapter 13 Plan.
Benefits of Chapter 13 Bankruptcy
Chapter 13 bankruptcy can offer significant relief. Through a Chapter 13 bankruptcy, you may be able to:
- Gain additional time to repay your debts
- Discharge a portion of your debts
- Avoid home foreclosure
- Strip a second home mortgage lien
- Stop creditor harassment
- Stop a wage garnishment
- Stop an auto repossession
In addition, Chapter 13 bankruptcy enables you to keep valuable property that may have been taken in a Chapter 7 bankruptcy. Lastly, people with significant income who may be ineligible for Chapter 7 bankruptcy may still be eligible for Chapter 13 relief.
Get Help From an Experienced Bankruptcy Attorney
If you are struggling with debt and want to learn more about bankruptcy, contact B&B Law Group in Lutz, Florida. Our experienced bankruptcy lawyers serve clients throughout the greater Tampa Bay area.
At our firm, you can be confident that you will receive experienced and highly personalized representation. Our attorneys have extensive experience in Chapter 7 bankruptcy and Chapter 13 bankruptcy.
Contact Our Tampa Chapter 13 Bankruptcy Attorneys
We are pleased to offer a free consultation and case evaluation to help you determine if bankruptcy is right for you. We can also help you determine which type of bankruptcy is best for your situation. For help, contact one of our Tampa bankruptcy attorneys today at 813-333-9583 or contact us by e-mail.
