Fort Myers Chapter 13 Bankruptcy Lawyers
Filing Chapter 13 in Fort Myers, Florida.
Filing Chapter 13 can provide you with the opportunity for a fresh start, free from crushing debt. It’s like hitting a reset button on your finances. This form of bankruptcy can help you recover your financial health if you have fallen behind. If you have concerns about losing your home, filing a Chapter 13 reorganization could allow you to avoid this devastating loss by making up the missed payments over time. From the moment you file, you are back in control of your finances and your budget. See what a reorganization of your finances can do for you.
What is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy is a federal law that allows you to reorganize and restructure your debts over the next three to five years. You can reduce your debts, restructure your debts and eliminate debt. The savings will allow you to catch your breath, get off of the hamster wheel and see the future, by allow you to catch up on late mortgage payments, reduce your monthly costs, and rebuild your financial health.
How Does Chapter 13 Work?
Filing Chapter 13 can be a difficult process if you are dealing with an inexperienced firm, as you are required to submit a reorganization plan that protects your most precious possession – your home, while providing forgiveness for unsecured debts. Most people who are considering filing for Chapter 13 bankruptcy get help from a Fort Myers bankruptcy lawyer to ensure all filings are correct, and to represent them in bankruptcy court. But, not all Fort Myers bankruptcy attorneys are the same. The Dellutri Law Group, PA has three Board Certified Consumer Bankruptcy Attorneys available to assist our clients.
Do You Qualify for Chapter 13?
To be eligible to file Chapter 13, you must meet several criteria:
- You earn a steady income from employment or self-employment.
- You have not received a Chapter 13 discharge in the previous two years and have not filed Chapter 7 and received a discharge in the previous four years.
- Your unsecured debt is not higher than $465,275 and your secured debts no higher than $1,395,875.
A Fort Myers bankruptcy attorney from The Dellutri Law Group, PA can help you navigate the bankruptcy legal system and enjoy the relief offered by the federal government for wage earners who have serious financial troubles.
What are the Benefits of Filing Chapter 13 in Fort Myers, Florida?
Filing Chapter 13 can be a lifesaver for many individuals and couples. The benefits include:
- You will have more time to pay overdue debts.
- All debt collection actions stop. No creditor can contact you by phone or other means.
- Unsecured debts, such as credit card bills, could be entirely forgiven.
- Filing Chapter 13 includes an “automatic stay” against home foreclosure or repossession of a vehicle, allowing you more time to manage late payments.
What is the Chapter 13 Process?
To file Chapter 13, it is strongly advised that you have legal assistance from a bankruptcy attorney in Fort Myers. The process takes about 150 days from initial filing of your bankruptcy petition to plan confirmation. The process has the following steps:
- You are required to attend a federally-approved credit counseling course prior to filing.
- Your bankruptcy petition is filed with the court.
- A repayment plan must be crafted, proposed, and submitted to the court within 14 days of filing the petition. The repayment plan proposes how much your creditors will receive each month and how long the plan will last.
- A hearing is held in which the court will ensure the repayment plan meets the standards set by federal law for approval by a bankruptcy judge. If a creditor protests, the repayment plan can be revised.
- Overdue mortgage payments and car payments can be arranged to be paid over time, allowing you to keep your home and vehicle.
Debts and Bankruptcy: Which Debts are Discharged?
Not every type of debt can be discharged when you file Chapter 13. The types of debts fall into three basic categories:
- Priority debts: These are the debts that are not eligible for discharge, such as child support, taxes, and student loans.
- Secured debts: Late mortgage payments, car payments, and other secured debt is paid off over time.
- Unsecured debt: Unsecured debt, such as credit card debt, may be reduced or forgiven completely when the approved repayment plan is complete.
When You Need Help you can Trust: The Dellutri Law Group, PA
If you are considering filing Chapter 13 bankruptcy, you deserve the support of a bankruptcy expert that is on your side, from start to finish. At The Dellutri Law Group, PA, we are focused on helping our clients achieve financial freedom and a better, brighter future.
Call (800) 391-4337 to speak with us about filing Chapter 13 bankruptcy in Fort Myers.
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