Central Florida Bankruptcy Lawyer
A Chapter 13 bankruptcy is often referred to as a debt reorganization or debt restructuring bankruptcy. Unlike a Chapter 7 bankruptcy, in which most types of debts are completely eliminated, a Chapter 13 bankruptcy allows people with debt problems to pay their debts in a more gradual fashion through a debt repayment plan.
A person filing for Chapter 13 relief will propose a debt repayment plan to a bankruptcy judge. Typically the plan is a three- or five-year plan. If the plan is approved by the court, there are a number of benefits that can be achieved.
Depending on the facts of your case, a Chapter 13 bankruptcy may allow you to:
- Stop a home foreclosure
- Protect your assets
- Stop creditor harassment
- Reduce certain debts
- Pay back debts in a more gradual fashion
At the Price Law Firm in Altamonte Springs, Florida, we help people throughout Central Florida find solutions to difficult financial challenges. To speak with a bankruptcy and debt relief attorney at our firm, call 407-834-0090. We offer a free consultation and offer convenient payment plans.
Home Foreclosure Avoidance
A Chapter 13 bankruptcy is often used by people seeking to prevent a home foreclosure. A Chapter 13 bankruptcy may allow you to have up to three or five years to pay back mortgage arrears and avoid a home foreclosure. If you do not wish to file for bankruptcy, we are pleased to assist with loan modifications and foreclosure defense.
Do You Have a Second Mortgage?
One of the little known facts about Chapter 13 bankruptcy is that it can – in limited circumstances – eliminate the debt of a second mortgage. Depending on the facts of your case, this benefit may be available to you. Contact us to learn more.
The Price Law Firm is located in Altamonte Springs, in the Orlando-Kissimmee metro area. If we can be of help to you, contact us today at 407-834-0090.