CHAPTER 13 BANKRUPTCY ATTORNEY IN STUART
What is Chapter 13?
This form of bankruptcy, also known as “wage-earners bankruptcy,” is well-suited for individuals who earn a decent income. Under a Chapter 13 bankruptcy, individuals make scheduled payments to creditors over a three-to-five year period in an interest-free plan. Most Chapter 13 bankruptcies are filed to prevent foreclosure on a home or so that the filer can keep their personal assets. Unlike a Chapter 7 bankruptcy which liquidates non-exempt assets, the Chapter 13 bankruptcy restructures assets to allow a deb tor to pay off financial obligations.
Work with a Talented Stuart Bankruptcy Lawyer
One of the major considerations in a Chapter 13 bankruptcy is the amount of income that the debtor makes. You must able to have enough income after expenses to realistically repay your debt according to the schedule determined by the court. An experienced Stuart attorney from our firm can help you determine if you qualify for this type of bankruptcy so that you can avoid additional stress and hardship. Our legal team of bankruptcy attorneys is intimately familiar with the process involved with Chapter 13 filings, and we know how to protect your rights along the way.
By choosing to file a Chapter 13 bankruptcy, you may be able to save investment properties that would have been lost in a Chapter 7 claim. Here at Crary Buchanan, we walk you through the various benefits of filing a Chapter 13 claim and we work hard to save you time and money along the way. The Florida Bankruptcy Court states that a debtor may not have more than $1,081,400 in secured debt and $360,475 in unsecured debt if they are considering a Chapter 13 bankruptcy. Regardless of your situation, our firm will help you find the financial relief you desperately need and deserve.
Contact a Stuart Chapter 13 bankruptcy lawyer at our firm now to learn more about this type of bankruptcy.