Chapter 13 bankruptcy cases in Florida can be difficult, and putting your faith in a lawyer you can trust is important. For most people in Florida, a Chapter 13 may involve reorganizing your finances over a 3-5 year period, so you need to be able to count on your bankruptcy lawyer to be there with you through the entire case.
If you have assets you want to keep, and a steady income, a Chapter 13 bankruptcy may be the answer. Under a court-supervised repayment plan, you almost always get to keep your assets in exchange for sticking to a plan that takes place over 3-5 years.
Under Chapter 13, you’re reorganizing your finances, which is why it’s commonly called a “reorganization bankruptcy.” In Florida, this is one of the most common ways for people to possibly stop foreclosure of a home or repossession for a past due car loan, and catch up on the past due amounts.
Sounds good, but is it worth it?
The amount of your repayment plan will depend upon your disposable income. That is the income that your have left over after necessary expenses each month. For example, if you make $2,000 each month after taxes, and $1,500 of this is used for necessary living expenses, you would have $500 in disposable income that could be used to pay your monthly payment during your case.
It sounds good, but filing Chapter 13 bankruptcy in Florida isn’t the right move for everyone. There are a number of advantages and disadvantages, and it is important to understand these before you file your case. A bankruptcy lawyer can go over these with you and help you make the right decision.
You don’t need to hire a lawyer … but is it worth the risks?
You can file a Chapter 13 bankruptcy in Florida without hiring a lawyer, but there’s no legal requirement to have an auto mechanic fix your brakes for you either. You could get under the car and change the brake pads, rotors, and such … but it’s a pretty complicated job if you haven’t done it before. Get one thing wrong and you’ll likely end up smashing your car into a tree.
Same thing with filing a case in court. The paperwork is extremely complex, and if you miss one little thing you may jeopardize your entire case. If that happens you may not be able to file a new case and get the same level of protection.
It costs you nothing to sit down and talk with an experienced bankruptcy lawyer.
Some lawyers will charge an arm and a leg to give you the time of day, but not us. Make an appointment, come in and sit down to talk about your problems. We’ll map out all of your options (even the ones that don’t include bankruptcy) and put together a Plan to make your future better than your present.
You probably have a ton of questions, and I want to answer them. You can contact me by email or call (407) 749-0080 to set up a free, no-obligation consultation.
But before you talk to me, I’d like you to read these pages of this site:
And when you’re done with that, please take the time to read the Florida Bankruptcy Blog.
This photo of Flagler Beach was taken by afsilva.