Chapter 13 bankruptcy is significantly different from a Chapter 7 bankruptcy. A Chapter 13 is a reorganization of debt, allowing debtors to repay all or a portion of their debts through a Chapter 13 plan, while protecting property and personal assets. The concept is similar to debt consolidation, but unlike most debt consolidation programs, it permits debtors to pay unsecured debt (i.e., a debt that is not secured by property) down without accruing interest (student loans are an exception) and without having to deal with those annoying calls from debt collectors.

One of the biggest advantages of a Chapter 13 bankruptcy is that is many cases, we are able to eliminate home lines of equity and/or 2nd mortgages.  

Under a typical plan, you make monthly payments to a court-appointed bankruptcy trustee for generally three to five years. The amount of your monthly payment is determined by several factors, such as the amount of debt you have, your ability to repay and the extent that you have assets.

The bankruptcy trustee distributes the money to your creditors.  After all, the creditors have an army of lawyers.  You deserve the same protection. To schedule your free consultation call us seven days a week, from 9am and 10pm, at (305) 274-2922 or email at [email protected].  We look forward to helping in any way we can.