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FILE A FLORIDA BANKRUPTCY

Fort Lauderdale Bankruptcy Attorney Donnie Goodwin

954-768-9940 | FileAFloridaBankruptcy.com
200 SE 6th Street • Suite 507 • Fort Lauderdale, FL 33301

WHO CAN FILE FOR CHAPTER 13?
FLORIDA BANKRUPTCY LAYWER
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Donnie Goodwin: A Fort Lauderdale bankruptcy attorney who can help you understand your financial options.

 

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KEEP YOUR HOME
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So many people are upside-down on their home mortgages these days. Before you walk away from your home, read this!

 

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BANKRUPCY MYTHS
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Read the FAQs about bankruptcy myths, and learn why bankruptcy may help give you a fresh start.

 

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CAN I FILE A CHAPTER 13 BANKRUPTCY?

From Goodwin Law Offices, Florida Bankruptcy Lawyer

 

BEFORE YOU READ THIS PAGE, PLEASE SEE THE BASICS OF CHAPTER 13 BANKRUPTCY

 

Who is eligible to file Chapter 13 Bankruptcy?

 

Any individual, including those who are self-employed or operating an unincorporated business, can be eligible for relief as long as the individual's debts are less than specific dollar amounts defined by the U.S. Bankruptcy Code. The eligible dollar amount limitations are fairly large and don't apply to most individuals. These limitations change periodically to reflect changes in the consumer price index.

 

A corporation or partnership may not become a Chapter 13 bankruptcy debtor. These and other types of business organizations must qualify under another provision of the U.S.Bankruptcy Code, usually Chapter 11 Bankruptcy. An individual cannot file under Chapter 13 or any other chapter of the U.S.Bankruptcy Code if, during the preceding 180 days, a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court.

 

 

What debts are eliminated & what debts are paid in a Chapter 13 bankruptcy?

 

When you file a Chapter 13 bankruptcy the law requires that you list all of your debt. Your debt is separated into three categories for classification in a Chapter 13 bankruptcy repayment plan. The first category is secured debt that you are going to continue paying yourself, outside of the bankruptcy plan. These debts can include property you would like to keep, like your home or car. The second category is a class called unsecured debt you will pay through the Chapter 13 repayment plan. The most common examples would be past due mortgage payments, your financed furniture or even delinquent IRS taxes and past due child support.

 

The last category is the class of debt that you will repay a part of, if any, of the amount owed and the remaining amount will be eliminated in the discharge of your case under the court ordered plan. This third type of debt includes, credits cards, medical bills, payday advance loans, personal loans, legal judgments from repossession deficiencies and most other other unsecured debts.

 

 

How long does a Chapter 13 bankruptcy last?

 

A Chapter 13 bankruptcy plan generally calls for a repayment period of three to five years. You are required to to make a monthly payment under the plan for your case. The Chapter 13 bankruptcy plan's duration depends on the amount of debt that you have, the class of debt and your ability to pay. This court-approved and court-supervised repayment plan will vary depending on each individual's situation. To learn more about how this provision of the U.S.Bankruptcy Code may work for you, start your free consultation at the top of this page.

 

What amount do I have to pay each month, in Chapter 13 bankruptcy?

 

The amount you are required to pay under your Chapter 13 repayment plan is determined by your situation. This calculation may include the the past due payments owed on secured debt and the amount of secured debts that you decide to pay through your Chapter 13 plan. It is important to consider that your ability to pay those debts is based on your individual income and budget.

 

 

Goodwin Law Offices offers legal help in the following areas:

 

 

 


 

STOP CREDIT CARD COLLECTION CALLS!

If You Chose A Bankruptcy Option, The Collection Calls Will Be Halted

 

Creditors are not allowed to contact you once you have filed for bankruptcy. They must stop all collection calls. If they do call, they'll have to answer to the U. S. Bankruptcy Court judge and will probably have to pay fines as a result. Of course, you must go through the legal process of bankruptcy under the U. S. Bankruptcy code.

 

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ARE YOU FACING FORECLOSURE?

Read about foreclosure defense versus bankruptcy

 

Just because you are facing foreclosure does not mean a bankruptcy is the way to resolve the situation. Depending on your financial and legal situation, a direct foreclosure defense may suffice, in lieu of a bankruptcy. Goodwin Law Offices is ready to help you determine which option may be best for you.

 

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