Coral Springs Chapter 13 Bankruptcy Lawyer
Have you fallen behind on your mortgage or car payments? Or possibly you don't qualify for a Chapter 7 bankruptcy ? From home mortgages to car loans, and even tax debt, we can help you get the relief you need. At the law offices of attorney Michelle Armstrong, P.A., we will help you determine whether a Chapter 13 bankruptcy is right for you.
The new bankruptcy law has made it more complicated to file a bankruptcy case. The law is being interpreted every day by the bankruptcy courts nationwide. Luckily, Coral Springs attorney Michelle Armstrong keeps close watch on every new court decision so that she understands how the rulings may affect your case.
Contact our Coral Springs Chapter 13 bankruptcy attorney at the law offices of Michelle Armstrong, P.A. today to secure a debt-free tomorrow. Call 954-509-3736.
Sometimes called "debt adjustment" or “debt reorganization,” Chapter 13 bankruptcy requires that you file a payment plan with the bankruptcy court to pay all or a portion of your debt over a period of three to five years. Chapter 13 bankruptcy will allow you to keep valuable property that might be lost in a Chapter 7, as long as you are able to make the plan payments as required.
Who, When, and What Do I Pay?
Your Chapter 13 repayment plan is usually based on the funds you have remaining at the end of every month, after you pay all of your living expenses. If you do have sufficient funds available, called disposable income, then the bankruptcy law provides, in essence, that it would not be fair for you not to pay some portion of your disposable income to your creditors.
The payments you make to your creditors in a Chapter 13 bankruptcy are based on this disposable or leftover income. Sometimes, the payment may be based upon the value of your non-exempt assets. Either way, payments are made to the Chapter 13 trustee, who then distributes the funds to your creditors. Once you have completed all the payments as provided in your Chapter 13 plan, you will be discharged of all remaining debts.
South Florida Foreclosure Attorney, Helping to Rebuild Your Credit
If you are considering the possibility of filing for bankruptcy, you owe people money, which means you probably don't have very good credit. By filing for Chapter 13 bankruptcy and entering into a payment plan, you can actually start to rebuild your credit. When you have reached the end of your plan, all your debts will be discharged and your credit will be stronger than it has been in years. Even with a Chapter 7, you will exit bankruptcy without any debt and can begin rebuilding your credit immediately.
Contact Us at Our Debt Consolidation Law Firm Serving Coconut Creek
Contact our South Florida foreclosure lawyer at the Coral Springs, Florida, law offices of Michelle Armstrong, P.A. today for a free initial consultation.
For your convenience, we work with an associated bankruptcy attorney in Plantation.
We are a federally designated Debt Relief Agency under the United States bankruptcy laws. We help people find solutions to their debt problems, including, where appropriate, assisting them with filing for bankruptcy relief under the United States Bankruptcy Code.