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Chapter 13 Archives

What does a Chapter 13 confirmation hearing entail?

Filing for bankruptcy requires careful attention to detail as a debtor and his or her attorney compile information about a debtor's assets and outstanding debts. The filing of a bankruptcy petition sets a number of events into motion. Specifically, for a Chapter 13 bankruptcy filing, a debtor must file a repayment plan with the court.

Student loan, credit card debt part of Chapter 13 bankruptcy

Chapter 13 bankruptcy offers an excellent option for those who wish to gradually eliminate their debts. Known as reorganization bankruptcy, approved Chapter 13 bankruptcy filings will involve plans for debtors to pay off their eligible debts. For some Florida debtors, this may include student loan debt and credit card debt.

Credit counseling, debtor education are part of bankruptcy

Bankruptcy proceedings have numerous specific requirements, which must be followed closely and carefully. The requirements are designed for the protection, and sometimes education, of those persons filing for bankruptcy protection. Two requirements that aim to educate bankruptcy filers who are filing for personal bankruptcy protection, such as Chapter 13 bankruptcy, are that of credit counseling and a debtor education course.

Florida court's bankruptcy decision may affect Chapter 13 filers

A recent decision by the U.S. Bankruptcy Court for the Middle District of Florida may affect the outcome of some Florida debtors' Chapter 13 bankruptcy cases. The Court considered both a Chapter 7 and a Chapter 13 bankruptcy case in its decision, and ultimately held that a debtor who has surrendered property cannot take overt action to impede secured creditors from foreclosing on the creditors' interests in secured property.

Chapter 13 bankruptcy eligibility requirements are specific

Chapter 13 bankruptcy is a great option for Floridians who have regular income and want to repay their debts over time. Known as the wage earner's plan, this type of bankruptcy allows a debtor to pay his or her creditors over a period of three to five years under a specified plan, thereby obtaining reasonable and manageable debt relief.

Florida attorney helps clients claim bankruptcy exemptions

Florida bankruptcy is a tool through which a person or business can start over financially. By going through a court-sanctioned process that allows a person or business to eliminate or reorganize debt, a person may have the opportunity for a fresh financial start in Florida.

Keeping your Florida home after Chapter 13

Purchasing a Florida home is often a very proud day for a Floridian. A family's home is not only where they live, but may also be a symbol of the American dream for many. Therefore, the possibility of losing that home in a bankruptcy proceeding may be upsetting. Fortunately, however, there are ways that a family can keep their home even after filing for bankruptcy.

Many advantages of a Chapter 13 automatic stay

One of the advantages of filing for Chapter 13 bankruptcy in Florida is the issuance of an automatic stay. An automatic stay prevents a debtor's creditors from taking any further action to collect on the debt. The automatic stay starts when the debtor files the petition for bankruptcy. Judicial action is generally not needed for an automatic stay - as the name indicates, it happens automatically.

A Chapter 13 bankruptcy filing may be the smart way to go

Bankruptcy is a choice that many people make as a way to attain financial freedom. In this day and age, financial freedom is important because it gives people a sense of clarity and direction when it comes to their finances. Now, financial freedom means different things to different people. Some people do not like having any type of debt and will do anything to ensure that their debts are paid in a timely fashion. Normally, these are the same people that have a good understanding of how to handle their debt. Then there are the rest of us, who constantly are battling creditors and trying to find ways to live that debt-free existence. For those who fall into the latter category, bankruptcy is a viable option, because it gives individuals who are drowning in debt a way out, so to speak.

Is Chapter 13 the right filing for me?

Many Americans are often looking to find ways to manage their finances. There are a plethora of ways to do this depending on how you want to go about it. For some, managing money and handling debt is as simple as making a budget and sticking with it. For others, however, more forceful measures are required to get the debt under control. Since the goal is to be debt free or as close to debt free as possible, finding ways that allow you to do this efficiently and effectively is key.