What exactly is Chapter 13 Bankruptcy?

Chapter 13 Bankruptcy laws can offer a great relief for an individual who has a regular income paying job but still facing some financial difficulties. With this law, you don’t have to liquidate your possessions , rather you can re-organize your debt and make a fresh start which you are hoping for without losing your valuable properties. Chapter 13 Bankruptcy is the most ideal for you especially if you don’t qualify for the Chapter 7 bankruptcy protection law. If you would like to know more about Bankruptcy chapter 13 laws, you can contact our office and schedule a free consultation where we can give you all the information necessary to know if chapter 13 bankruptcy is right for you and how you can benefit from it.

Orlando Bankruptcy attorneys at our office are capable of handling all your bankruptcy cases at a competitive rate. You only need to understand that there are numerous benefits of filing a bankruptcy under the Florida Chapter 13 Bankruptcy law. Our legal service is to ensure that clients’ rights are protected and helping them get the second chance they deserve in their situation.

Mortgage foreclosure and car repossession can be stopped by the Chapter 13 Bankruptcy law. With this law, you as an individual can even have your driver’s license reinstated especially if such a license has been suspended due to your inability to pay for accumulated parking fees. Chapter 13 can protect your home even when you have substantial equity. With Chapter 13 bankruptcy, you can pay back your unsecured loans based on the amount of unprotected equity you have in your home. If you make a significant amount of income from your regular job, then Chapter 13 is also ideal for you.

In most cases a Chapter 13 bankruptcy case may last up to 5 years especially as you the debtor makes continuous and regular monthly payments which has been worked out for you by the Bankruptcy court. One of the greatest advantages of chapter 13 bankruptcy is that it will offer a sound protection against the sale of your property and car and then you will be offered to make a reduced and affordable regular monthly payment which will be subjected to your won conviniency as well as your own budget. You will be allowed to pay as little as 10% of what you originally owe your creditors on a regular basis. One other advantage of using the chapter 13 bankruptcy is that the interest rate in your payments are massively lowered if not eliminated completely. You can get more information on the use of Chapter 13 bankruptcy by contacting our office today. A skilled Orlando Bankruptcy Attorney will be at hand to explain more to you.

Contact an Orlando Bankruptcy Attorney today and you will be glad you did.