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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

CHAPTER 13 BANKRUPTCY BASICS
FLORIDA BANKRUPTCY LAYWER
Bankruptcy News

Donnie Goodwin: A Fort Lauderdale bankruptcy attorney who can help you understand your financial options.

 

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KEEP YOUR HOME
Bankruptcy News

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
Bankruptcy News

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

 

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WHAT IS CHAPTER 13 BANKRUPTCY?

From Goodwin Law Offices, Florida Bankruptcy Lawyer

 

CAN I FILE FOR CHAPTER 13 BANKRUPTCY? ANSWERS TO YOUR QUESTIONS

 

Chapter 13 Bankruptcy lets a person reorganize his / her debts. Chapter 13 is not like Chapter 7 Bankruptcy, because Chapter 13 Bankruptcy is not a liquidation. Filing a Chapter 13 Bankruptcy invokes an automatic stay against collections and lawsuits, just like the stay provided by a Chapter 7 for the debtor. And filing a Chapter 13 Bankruptcy petition can also stop creditor actions against a co-debtor, someone who has co-signed or guaranteed the consumer debt. As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even make telephone calls demanding payments.

 

A Chapter 13 bankruptcy is a court-ordered plan to pay creditors. The terms of the payment plan, made in accordance with the provisions of the law, are designed to accommodate you and not the creditors.

 

Chapter 13 bankruptcy is not a complete liquidation and it allows you to keep property that has delinquent payments. After a plan is confirmed by the court, your creditors are bound to that plan. By filing a Chapter 13 bankruptcy you may be able to stop the foreclosure of your home or repossession of the tools of your trade or business and a vehicle.

 

The Chapter 13 repayment plan allows you to pay off any past due mortgage or property taxes over a three to five year plan period. A Chapter 13 bankruptcy plan provides you an opportunity to pay creditors on your terms and not theirs.

 

Also, there are certain debts that you cannot discharge in a Chapter 7 bankruptcy liquidation, but these debts may be restructured in a Chapter 13 bankrupcy. These typically include delinquent income taxes and past due child support. A Chapter 13 bankruptcy can usually include these and make them payable over the life of your plan to pay. Finally,

 

Chapter 13 bankruptcy acts like a consolidation loan under which the individual makes the plan payments to a trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under Chapter 13 bankruptcy protection.

 

 

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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