Sometimes, debts get out of a debtor's control, making them hard to pay and manage. Bankruptcy gives them an option to remove some debts by liquidation through Chapter 7. If a debtor wants to pay their debt and keep assets, Chapter 13 allows them to use a payment plan...
The responsibilities of a bankruptcy trustee
If a debtor in Florida feels they can not manage their debts anymore, they commonly consider bankruptcy. Bankruptcy helps debtors remove certain debts legally by a liquation process in Chapter 7 and debt repayment under Chapter 13. Each bankruptcy type commonly...
What is chapter 13 bankruptcy?
Many individuals in Florida and across the U.S. unexpectedly get behind on bills. If you're in this situation, you might consider filing for bankruptcy. Although there are several options available to you, Chapter 13 may be a viable option to consider if you still...
What happens to a leased car after you file for bankruptcy?
If an individual is having trouble managing their debts, they can file for bankruptcy as a last resort. Filing for Chapter 13 bankruptcy in Florida gives an individual the chance to pay off their debts over a period of three or five years. If a leased vehicle is part...
What to expect when a Chapter 13 case ends
If you are struggling to pay your bills, it may be possible to file for a reorganization bankruptcy. When you file, you will be required to present a repayment plan to a Florida judge and agree to abide by that plan for up to five years. At the end of a Chapter 13...
What to know about Chapter 13 repayment plans
If you are going to file for Chapter 13 bankruptcy in Florida or most other states, you must submit a payment plan as part of the application. In some cases, you'll have 15 days from filing for reorganization bankruptcy to do so. Understanding the different types of...
Helping you successfully file for a Chapter 13 bankruptcy
Families in Florida and elsewhere work hard to provide for their family. And when financial problems arise, this does not cause them to stop. Whether it is growing medical debt, unemployment or an accident, financial hardships can hit a family hard, sometimes causing...
How Chapter 13 can assist businessowners
A previous post on this blog talked about how bankruptcy may be an important and even necessary step for Florida businessowners to take should they run into financial hardships.This post specifically talked about how Chapter 7 bankruptcy, in which a businessowner will...
Chapter 13 and foreclosure defense
This blog has discussed the difference between Chapter 13 and Chapter 7, which are the two types of bankruptcy most private residents of South Florida would file should they get into financial distress.Each type of bankruptcy has its advantages and disadvantages. In...
Basics of the Chapter 13 bankruptcy repayment plan
For people who are in financial duress but still hold a steady source of income, Chapter 13 bankruptcy is often the best form of debt relief. In a Chapter 13 bankruptcy filing, all the debts are combined, and the debtor makes regular payments to the bankruptcy case...
