Are You in Need of a Chapter 13 Bankruptcy Attorney?
Debt can sometimes get to the point where it feels overwhelming. There may come a point where you need to try and remove the debt to relieve yourself of your financial burden. However, you may be hesitant to file for bankruptcy, as you would like to retain many of your assets. If that is the case, then you may wish to file for chapter 13 bankruptcy. By working with chapter 13 bankruptcy lawyers in Palm Beach County, FL, you can get a better understanding of the relevant bankruptcy rules and begin to relieve yourself of your debts. So, consider contacting a chapter 13 bankruptcy attorney such as Natashia Sinckler. Call today to learn more about chapter 13 law.
Understanding the Chapter 13 Bankruptcy Rules
Chapter 13 bankruptcy, unlike chapter 7, allows individuals to keep many of their assets instead of liquidating them. To do this, they must restructure their debt so that it can be paid off within a 3—5 year period. According to the rules of chapter 13 bankruptcy, your unsecured debts can’t be greater than $394,725 and your secured debts can’t be greater than $1,184,200 in order to file. Additionally, you cannot file for chapter 13 if you had a bankruptcy case dismissed within 180 days of filing. For more information on chapter 13 bankruptcy rules, you may wish to obtain assistance from a qualified attorney.
Chapter 13 has several advantages over chapter 7 bankruptcy. It can allow individuals to keep their assets, and can even give them the chance to avoid concerns like foreclosure, while still helping them clear their debts. However, it does take a much longer time to become debt free when filing for chapter 13. As such, you may wish to consult with chapter 13 bankruptcy lawyers in Palm Beach County, FL in order to determine if this is the right solution for you.
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Chapter 13 Law
According to chapter 13 law, when filing, you must first submit a petition, take a pre-filing credit course, and pay a filing fee. Additionally, you will likely need to provide the court with several other pieces of information, such as what your current income is, a list of creditors that you owe money to, and what your monthly living expenses look like. After this is done, a trustee will be appointed to your case. You and your chapter 13 bankruptcy attorney will be required to determine a repayment plan for your debt, which must be submitted no later than 14 days after submitting the petition.
Within 21 and 50 days of filing your petition, your trustee will hold a meeting of creditors. This allows the trustee to learn more about your situation and payment plan. Additionally, your creditors may be present in order to ask questions about the plan. Should the plan be approved, your trustee will handle making sure that your monthly payments are given to your debtors. By the time the 3—5 year period is up, your debt will be discharged.
Consult with Chapter 13 Bankruptcy Lawyers Now
Obtaining lawyers familiar with chapter 13 bankruptcy law can be a beneficial first step when considering whether or not to file. A chapter 13 bankruptcy attorney likely understands the complications of filing better than you, and as such can provide guidance and support. So, consider working with an attorney such as Natashia Sinckler. She serves the Palm Beach County, FL area, including:
- West Palm Beach, FL
- Lake Worth, FL
- North Palm Beach, FL
- Boynton Beach, FL
- Palm Beach Gardens, FL
- Riviera Beach, FL
- Royal Palm Beach, FL
Chapter 13 bankruptcy attorney Natashia Sinckler is ready to help with your case. She can provide you with personal service to help ease the filing process. Consider calling today for more information.
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The Law Office of Natashia A. Sincklerhas lawyers who are experienced with a variety type of family law issues. If you want advice or are seeking legal support, please consider getting in contact. We’d love to help you with your case.
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