Filing for Chapter 13 Bankruptcy?
We can help you retain your assets!
The benefits of filing for bankruptcy are numerous, but it all depends
on the chapter you choose. Chapter 13 can be especially advantageous for
those with assets they wish to hold on to even after filing. Before you
file, however, don't hesitate to contact our firm.
As a Boca Raton bankruptcy attorney with 25 years of experience, our firm's
founder has seen far too many individuals lose precious assets because
of small mistakes. We can assess your circumstances and assist you in
the filing process to ensure that you come out on top.
Fill out our free case evaluation form today!
How is Chapter 13 different than Chapter 7?
Chapter 13 bankruptcy is also known as reorganization bankruptcy, because
debtors are required to pay off a certain portion of their debt. This
is referred to as a repayment plan and must be completed within three
to five years of filing.
Most secured claims must be paid, which include:
- Mortgage debt
- Property taxes
- Car payments
Paying these debts allows you to keep a majority of your assets, even though
you filed for bankruptcy. Another key difference is that there is no means
test associated with Chapter 13. The only form of criteria is that if
your secured debts exceed $1,149,525 and/or your unsecured debts are more
than $383,175, you are ineligible.
Each person's repayment plan is different based on their circumstances.
One individual might be required to pay a higher amount based on their
disposable income, while another is only responsible for a very small
number of debts.
Reach Out to Our Boca Raton Bankruptcy Attorney
We recommend getting in touch with our firm before you submit any paperwork.
The entire process can be long and confusing, but is simplified when you
have a dedicated advocate on your side. Whatever the details of your financial
crisis, we are prepared to help.
A complimentary consultation is the first place to begin.
contact us right away for a team that always assumes a proactive approach!