Bankruptcy Lawyer in Ft. Lauderdale: Chapter 13

When your debts are piling up around you and you don’t see any possible way out, you may want to consider declaring bankruptcy.  Legally speaking, when you declare Chapter 7 or Chapter 13 bankruptcy, you are stating that you are incapable of meeting your debts and repaying your creditors as your financial situation currently stands.  In Chapter 13, you are able to reorganize your debts into a more manageable state. 

This type of bankruptcy can result in completely eradicating your credit card debt.  However, you will be required to pay on a repayment plan specifically crafted for your unique situation.  The relief of harassing calls and letters from credit card companies, foreclosure on your family’s home and other upsetting and traumatic experiences will end once you declare Chapter 13 bankruptcy. 

If your income is above the amount required for your fundamental needs, yet you still are unable to keep up on your mortgage, credit card, vehicle or other payments, you may qualify for Chapter 13.

South Florida Bankruptcy Lawyer

When you declare Chapter 13, you will have a record of such on your credit report for up to 10 years.  This can have its disadvantages.  However, the same disadvantages are often present if you have high debts.  You will also not be allowed to apply for or obtain additional credit without the express permission of the bankruptcy court.  If you want to get out of the looming crisis of never being able to catch up on your payments, you should contact a bankruptcy attorney immediately to see which chapter you qualify for. 

In this type of bankruptcy plan, you will have a schedule lasting 3-5 years listing out the amounts that you will pay to certain creditors/debt holders.  The creditor will be unable to pursue you or harass you for your previous debts unless they go through bankruptcy court.

If you are feeling overwhelmed and crushed by your debt, you need to speak with a bankruptcy lawyer.  Tiller Law has the experience and dedication to your case that you need when you are declaring bankruptcy.

Contact a South Florida Bankruptcy Attorney at Tiller Law to discuss your Chapter 13 declaration.