Chapter 13 Bankruptcy Lawyer In Palm Beach

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Chapter 13 Attorney Reasons To Choose Us

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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:

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. Besides avoiding foreclosure or 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?

Chapter 13 Attorney 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.

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