Chapter 13 Bankruptcy Lawyer In Palm Beach
Reasons To Choose Us
Free case consultations
After-hour & weekend availability
Affordable legal representation
Backed by more than a decade of experience
We help you establish realistic expectations
Everyone's financial situation is unique. Anyone who is contemplating
bankruptcy knows that this is a serious step that should not be taken lightly. One
person may wish to keep their car more than anything else, whereas another
may feel it is vital to retain possession of their house. Chapter 13,
often referred to as debt reorganization, offers this type of flexibility
which can make it a good fit for someone who wants more control over their
debt relief and assets.
Benefits of Chapter 13 Bankruptcy:
You get to keep most of your property
A manageable payment plan is put into place
Annoying calls and letter from collectors will stop
It allows for a safe, legal way to get out of debt
It addresses most types of loans and debts
The Process of Chapter 13
Eligibility for Chapter 13 depends upon having a regular income and the
ability to make timely payments according to your repayment plan. With
the assistance of our established Palm Beach bankruptcy attorney, you
can make sure you're able to keep all exempt assets and property.
repossession of your vehicle, you may be able to retain other assets as long as you
adhere to the plan and make your payments as scheduled.
For those who do not qualify for
Chapter 7 bankruptcy or who want to properly repay a majority of their debts, a skilled Chapter
13 lawyer from our firm can assist you. We will work with you to structure
your debt repayment plan so you can repay all remaining debts within a
three to five year period. Repayment of your debts begins approximately
30 to 45 days after the court approves your petition. Payments will be
made to a trustee who will administer your payment to creditors.
How does an Automatic Stay Help Me?
Once your case has been filed with the court, an
automatic stay prevents creditors from continuing any collection actions. No additional
interest can be added to your debt as long as you abide by the payment
schedule. This gives you breathing room and the opportunity to completely
resolve your financial problems. An additional advantage under this chapter
is that all undischarged debts can be included in your plan. That means
you can catch up on your mortgage payments, student loans, and personal
tax debts as well as others. At the end of your repayment plan is a new future.
When you are ready to take the first step toward financial relief, contact us
at the Law Offices of Carol D. Ellis, P.A.