Chapter 13 Bankruptcy

West Palm Beach Chapter 13 Bankruptcy Lawyer

The decision to file for bankruptcy is a difficult one. So many people and organizations end up in crippling debt due to circumstances beyond their control. If you’re struggling to make ends meet, you need to speak with an experienced West Palm Beach Chapter 13 bankruptcy lawyer.

Stiberman Law is a bankruptcy law firm that’s helped hundreds of people and companies find a better path forward. There are many options available to you. Let our team of experts guide you through this. 

You can call us for a free bankruptcy consultation. We’ll go over all of the options available to you. You’ll receive real answers based on your specific circumstances. If filing for bankruptcy is your best path forward, we can handle the entire process on your behalf – from compiling all of your debts, to working with the bankruptcy court and your creditors to help you breathe again.

Is filing for Chapter 13 bankruptcy in Florida a good idea?

If you’re struggling to meet your obligations, and you don’t see your circumstances improving without some relief, filing for Chapter 13 bankruptcy could be a good option.

Filing for Chapter 13 bankruptcy halts all collection attempts by your creditors. This includes foreclosure proceedings. Many people choose to file for Chapter 13 bankruptcy because it allows borrowers to catch-up on their mortgage after they’ve fallen behind on payments. Chapter 7 and Chapter 11 bankruptcies do not offer this feature.

You will be required to establish a new, income-driven repayment plan. Your repayment plan will last three to five years, depending on your income level and the amount of debt you wish to discharge. 

During this period, all disposable income will be paid to the trustee. The trustee will ensure payments are made to your creditors. After you complete the repayment plan, the remaining balance on the original debt is discharged.

Choosing the right option for your financial circumstances can be difficult. You should consult a West Palm Beach Chapter 13 bankruptcy lawyer for their recommendation. There may be other options that fit your needs better.

Can I file for Chapter 13 bankruptcy in Florida on my own?

An experienced bankruptcy attorney can help you complete every step of filing for Chapter 13 bankruptcy in West Palm Beach. You can file on your own, but you’ll be required to complete complex paperwork with strict deadlines. A mistake could mean that some of your eligible debt is not discharged as part of your bankruptcy filing.

Our clients tell us that they appreciate having a partner they can trust through this difficult process. They also appreciate that we can attend important hearings on their behalf, giving them valuable time back.

How does Chapter 13 bankruptcy work?

The first step when filing for Chapter 13 bankruptcy in Florida is to make an accurate accounting of your current debts and obligations. Our West Palm Beach bankruptcy attorney will request copies of your most recent credit reports. This helps to ensure we present the court with accurate information.

Regular Income

We also need to look at your regular income. You report your regular income on IRS Form 1040 every year. This is the income that will help determine your income-driven repayment plan.

Your regular income will be compared with the median income of people that live in Florida. If your regular income is lower, your repayment plan with be a three-year plan. If your income is higher than Florida’s median income, you will need to complete a payment plan of five years.

Total of Secured and Unsecured Debts

To qualify for Chapter 13 bankruptcy, you must have less than $394,725 in unsecured debts and less than $1,184,200 in secured debts. 

Past Bankruptcy Filings

The bankruptcy court will also confirm whether or not you’ve filed for bankruptcy in the past. If you filed for bankruptcy in the past 180 days and it was dismissed because you chose not to appear before the court for your hearing, you will not be eligible to file for Chapter 13 bankruptcy. 

How much does it cost to file for Chapter 13 bankruptcy?

The bankruptcy court will charge a $310 filing fee. The U.S. Trustee may charge a fee as well. They play an important role in ensuring your creditors honor their agreements with you and the court.  

You might be worried about the cost of hiring a Chapter 13 bankruptcy attorney. The good news is you can speak with an experienced West Palm Beach Chapter 13 bankruptcy attorney for free.

Schedule a Free Consultation with an Experienced West Palm Beach Chapter 13 Lawyer  

During your free bankruptcy consultation, we’ll discuss your unique financial situation. Then we’ll look at all of the options available to you. Sometimes filing for Chapter 13 bankruptcy isn’t the best option. You may benefit from a combination of strategies to solve your financial challenges.

We’ll also discuss our attorney’s fees. Many clients tell us that our solutions cost a lot less than they were expecting. We also offer payment plans to make this process as affordable as possible. We don’t want to add to your financial burdens during this difficult time.

For a full breakdown of costs, you need to speak with a member of our friendly, compassionate team. We’re here to help.

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