A Chapter 13 bankruptcy attorney can help you decide if a Chapter 13 is right for you. We offer free consultations in Miami-Dade, Broward and Palm Beach with our Chapter 13 bankruptcy attorneys. A Chapter 13 bankruptcy reorganizes your debt and is very different from a Chapter 7. A Chapter 13 bankruptcy usually takes 5 years to reorganize your debt, but you should be a great position once the bankruptcy is finished. You create a realistic payment plan based on your "disposable income" that you have at the end of the month, money left over after payment of qualified living expenses. It is wise to seek the advice of a Chapter 13 bankruptcy lawyer as soon as possible, because a qualified bankruptcy lawyer has detailed knowledge of the best way to protect your assets in a bankruptcy. We have offices for you to meet our Chapter 13 bankruptcy attorneys in Fort Lauderdale / Plantation, North Miami Beach, Coral Gables, and Delray Beach.
There is no income limitations for a Chapter 13 bankruptcy. You could theoretically earn $10million per year and still qualify for a Chapter 13 bankruptcy from an income perspective. However, if your debts are too high, you may not be able to qualify for a Chapter 13 and you may be pushed into a Chapter 11. This is not where you generally want to be. Chapter 11 bankruptcies are very expensive, time consuming, and difficult to achieve. A Chapter 13 bankruptcy attorney can advise you of the best way to accomplish your goals in a Chapter 13 bankruptcy. To qualify for a Chapter 13, your unsecured debt (such as credit cards and medical bills) can not exceed $360,475. Your secured debts (such as mortgage payments) may not exceed $1,081,400. These number are subject to change from time to time, so you must contact a Florida Chapter 13 bankruptcy lawyer to determine what debt limits will apply to you. Our bankruptcy lawyers are located in Palm Beach, Broward, and Miami Dade.
So, if you do not qualify for a Chapter 7 bankruptcy because your income is too high and your debt limits are less than those listed in the previous paragraph, you will be filing a Chapter 13 bankruptcy. Chapter 13 bankruptcies allow for much more flexibility in what you are able to accomplish. For example, you may be able to cram down loans on some personal property, such as motor vehicle, meaning you will be pay what the vehicle is worth instead of what you owe. Our Chapter 13 bankruptcy attorneys in Miami Dade, Broward, and Palm Beach counties are ready to answer whatever questions you may have. We have bankruptcy law offices located in Fort Lauderdale / Plantation, North Miami Beach, Coral Gables, and Delray Beach.
Homeowners may be able to save their homes in Broward, Miami-Dade, and Palm Beach using a Chapter 13 bankruptcy
If you are a homeowner that is trying to save your home in a Chapter 13 bankruptcy, there are many tools that a Chapter 13 bankruptcy lawyer may be able to use for you. For example, you may be able to strip off (eliminate) a second or third mortgage or other lien on your home, You may be able to cram down a first mortgage on an investment property to pay what the property is worth instead of what you owe. You may also be able to catch up on missed payments by spreading them out over 5 years to bring your mortgage current. For more Chapter 13 bankruptcy information for homeowners please visit our site for homeowners trying to save their homes.
At Loan Lawyers, LLC, we offer free consultations with our Chapter 13 bankruptcy lawyers in our various South Florida locations in Palm Beach (Delray Beach), Broward (Plantation / Fort Lauderdale), and Miami Dade (Coral Gables, North Miami Beach). Call us now a 1-888-FIGHT-13 for your free Chapter 13 consultation with one of our bankruptcy attonrneys.