DEBT CONSOLIDATION AND CHAPTER 13 BANKRUPTCY
A Chapter 13 bankruptcy filing is recommended if you are facing foreclosure of your home, or have many valuable assets that you want to protect. Or if your income exceeds certain minimum requirements. If you have regular income, Chapter 13 provides a method for you to repay your debts over a period of time, according to a court-approved plan. Chapter 13 allows to stop foreclosure proceedings and wage garnishments, catch up on your past due mortgage payments, and eliminate an existing second mortgage or home equity line of credit (HELOC).
Chapter 13 also allows you to restructure your car loan(s), and pay off other debts according to your ability to pay. In many cases, your monthly payments will be dramatically reduced. We will help you to understand which bankruptcy filing is the right option for your situation, and we will assist you throughout every aspect of the process.
IMPROVE YOUR FINANCIAL FUTURE
At the Stohlman Law Firm LLC, our attorneys have helped thousands of people just like you with a bankruptcy filing in Florida. We have more than 50 years of combined experience, and our goal is to evaluate your situation and provide you with the counseling you need to free yourself from the stress of debt and put you on the road to a bright financial future.
Stripping Away Second and Third Mortgage Debt Under Chapter 13
Not only does a Chapter 13 filing prevent home foreclosure and allow you to keep your home, it can also provide the opportunity for you to strip away a second mortgage or home equity line of credit (HELOC) in many situations. So even if you have one, two or even three additional mortgages or credit lines, your may be able to eliminate them COMPLETELY with a Chapter 13 filing. Our attorneys can quickly determine whether you are eligible for this unique process. Our experience is what you need to navigate the complex process of filing for bankruptcy and improving your life dramatically–and immediately!
Differences Between Chapter 7 and Chapter 13 Bankruptcy
There are significant differences between a Chapter 7 (Liquidation) and a Chapter 13 (Reorganization) bankruptcy filing. While both forms of bankruptcy can be very useful and life-changing or individuals in Florida, each type of filing contains unique advantages, and disadvantages based upon your circumstances.
Before making ANY decision as to which form of bankruptcy filing is best for your situation, we encourage you to contact us for a FREE, NO-OBLIGATION consultation. With ever-changing laws and your personal situation from day-to-day, you need immediate counsel regarding an out of control debt scenario. DON’T WAIT! Call our office today.