Orlando Chapter 13 Bankruptcy Attorney

Filing for Chapter 13 Bankruptcy in Orlando, Florida

Chapter 13 bankruptcy can allow you to overcome a crushing debt load without having to forfeit any assets to creditors. It takes between three and five years to complete, and it is available for both indebted individuals and sole proprietorships.

At James H. Monroe, P.A., we help clients find their way to debt relief by navigating the complex bankruptcy process. Attorney Monroe has over 25 years of experience handling bankruptcy. He has published articles on bankruptcy law and he served for over six years on the Central Florida Bankruptcy Association board of directors.

To schedule an appointment for a free consultation to discuss Chapter 13 bankruptcy, call 407-872-7447 or contact our firm online today. We are ready to help you.

Debt Relief for Individuals and Sole Proprietorship Businesses

In Chapter 13 bankruptcy, legally referred to as an "adjustment of debts of an individual with regular income," all your debts are reorganized into one monthly payment. This occurs through negotiations during a Chapter 13 bankruptcy court hearing where you, your attorney, your creditors and a Chapter 13 trustee can negotiate a fair reorganization plan.

For three to five years, you will make you monthly payments to the Chapter 13 trustee, who will distribute payments to your creditors. At the end of the three to five year period, all your debts will be wiped clean. Because you need an income to file for chapter 13 bankruptcy, it used to be called a "wage earner" bankruptcy.

Dealing with Secured Debts

Secured debts — like back liens taxes, mortgages or car payments — can sometimes be altered under this plan. However, the amount owed on most home mortgages and consumer auto loans can not be lowered. But, by paying only a percentage owed on unsecured free up income and allow yourself to catch up on payments to avoid foreclosure or repossession.

Certain restrictions apply to those who wish to file a Chapter 13 bankruptcy. You may not be eligible if your debt exceeds a certain amount. If you are not eligible to file under Chapter 13,  for consumer Chapter 7 bankruptcy, you may need to consider business Chapter 7 bankruptcy or Chapter 11 bankruptcy. An experienced attorney can help you determine which approach is best for you.

Learn your options today. Schedule an appointment for a free initial consultation with attorney James H. Monroe in Orlando, Florida by calling 407-872-7447 or by contacting us online.