Falling behind on a mortgage, car loan, credit card, or other obligation can make monthly finances difficult to manage. With help from a Fort Lauderdale Chapter 13 bankruptcy lawyer, you can develop a repayment plan to reorganize qualifying debts over a period that generally spans three to five years.
Chapter 13 can provide a structured way to manage your financial obligations while protecting important property, and the Werner, Hoffman, Greig & Garcia team can assess how Chapter 13 applies to your situation. A local bankruptcy attorney will guide you through the filing process and identify relevant Florida protections.
Chapter 13 allows an individual with a regular income to propose a plan for paying creditors over time. The debtor generally makes payments to a Chapter 13 trustee, who distributes the funds according to the confirmed plan. Several factors shape the payment amount, including the debtor’s income and reasonable expenses. The type of debt also matters, and the value of nonexempt property can affect the terms of the plan.
A workable plan requires careful review of the debtor’s financial circumstances. In a Chapter 13 bankruptcy in Fort Lauderdale, our legal team prepares the necessary schedules and addresses plan payments and creditor objections throughout the confirmation process. Under 11 U.S.C. § 1322, a plan generally lasts three or five years depending on income, although specific circumstances can affect the required term.
A Chapter 13 bankruptcy filing can help a debtor manage different financial obligations through one structured repayment plan, which may allow them to catch up on past-due mortgage payments over time while continuing regular payments. The plan can also address several types of obligations according to their legal classification, including:
Florida law also provides significant protections for certain property. Florida Statute § 222.20 establishes the state’s choice regarding the exemptions available to residents who file for bankruptcy. An attorney handling cases in Fort Lauderdale can review how those exemptions apply before filing Chapter 13 bankruptcy.
The automatic stay generally takes effect once the debtor files a bankruptcy petition. 11 U.S.C. § 362 establishes this protection, which restricts many forms of creditor collection activity. Exceptions apply, and prior bankruptcy filings can affect how long the stay remains in effect or whether it is available. Our legal counsel may explain how these protections apply to a debtor’s circumstances in a Chapter 13 bankruptcy.
The debtor must also submit the necessary documents and attend a meeting of creditors before the court considers whether the debtor’s plan meets confirmation requirements. Federal law specifies when the debtor must begin plan payments, and we can manage the filing process and address issues that arise if financial circumstances change.
The repayment period usually lasts three years and may extend to five. We may explain how federal requirements and household income affect how long the plan must remain in effect.
Chapter 13 may allow a debtor to cure mortgage arrears through the repayment plan while continuing regular mortgage payments. Our Chapter 13 bankruptcy attorneys in Fort Lauderdale may review the loan and case facts to determine the available treatment.
No. Some obligations are not dischargeable, and secured debts can receive different treatment. The discharge depends on the debts involved and successful completion of applicable requirements.
Chapter 13 can provide a structured path for addressing overdue obligations through a manageable repayment plan. A Fort Lauderdale Chapter 13 bankruptcy lawyer from our team will review your financial circumstances and help you pursue a plan that reflects your situation while protecting important property.
At Werner, Hoffman, Greig & Garcia, we guide you through the bankruptcy process and explain the next steps for your Chapter 13 case. Schedule a free initial consultation with our team to discuss your financial situation and repayment options.
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