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Chapter 13 is special type of bankruptcy for reorganizing debts. It can be useful for people who are behind on their house or car payments to catch up and keep those items. It is a way to “strip”a second mortgage if the house is “under water” (you owe more than what the house is worth).
A Chapter 13 can take 3 to 5 years. It is debt restructuring. Payments are made more manageable and you keep your property. You pay some but not all of your unsecured debt based on what you can afford, not what you owe.
Unless your financial situation can improve quickly and significantly, a Chapter 13 remains one of the most reasonable, accessible and predictable ways to keep your house, your car, and your way of life for less money and less stress than almost any other method. In a Chapter 13 case, you will not pay your unsecured creditors more than what you owe on the day you file. Interest, late fees and penalties stop accruing. You will usually spend less on your debts in a Chapter 13 bankruptcy than any other legitimate option.
Phone: 407.481.2888
Mailing Address:
P.O. Box 520546, Longwood, FL 32752
Main Office:
(by appointment only)
2290 North Ronald Reagan Blvd., Suite 148, Longwood, FL 32752
***outside dropbox available***
Altamonte Springs Office:
(by appointment only)
631 Palm Springs Drive, Suite 114, Altamonte Springs, FL 32701
***door slot available***