1135 Pasadena Ave S.
  Suite 301
  St. Petersburg, FL 33707
  (727)381-8080
  FAX:(727)381-0234







 

Chapter 13 Bankruptcy

A Chapter 13 bankruptcy allows an individual or a family, with steady income to repay their debts over a period of time, according to a court approved plan. This repayment will, in most cases, be at 0% interest. A Chapter 13 bankruptcy will also immediately stop foreclosure proceedings and allow you 36 months (60 months in some circumstances) to catch up your delinquent home and auto payments.

A Chapter 13 bankruptcy may allow for the following:

  1. Immediately Stop Foreclosures
  2. Catch Up Missed Or Late Mortgage Payments
  3. Immediately Stop Automobile Repossessions
  4. Catch Up Missed Or Late Automobile Payments
  5. Restructure Automobile Loans
  6. Immediately Stop Wage Garnishments
  7. Reduce Some IRS Debts And Pay Others At 0% Interest And Penalty
  8. Repay Other Debts At A Fraction Of Their Balance

If the filing of a Chapter 13 bankruptcy is deemed to be appropriate in your situation, you and I will develop a plan to be filed with the court telling the creditors how much they will receive. This plan will be developed based upon your budget and the property you are keeping. In many cases, the bankruptcy court will approve a plan that provides for payments that are only 20% of your total unsecured debts and that are payable over a period of time up to five years. A Chapter 13 bankruptcy may also allow you to re-structure your car loans so that you repay only what the car is currently worth, not the entire balance claimed by the creditor.


Debt Reconsolidation Graphic Debt Reconsolidation Graphic