bankruptcy jacksonville fl

Let’s face it, bankruptcy is not the most exciting thing in the world. But, Chapter 13 can be one of the best ways to get out from under that mountain of debt you’re facing. Here are some tips to help make your experience in filing for bankruptcy in Jacksonville FL as painless as possible.

Chapter 13 Bankruptcy

A Chapter 13 bankruptcy does not eliminate debt, but it does help individuals catch up on past-due payments and get back on track with their finances. In most cases, creditors cannot force you to repay your debts using Chapter 13 bankruptcy because you must submit to a repayment plan approved by the court.

The ultimate goal of the Chapter 13 plan is to finish it accordingly, have the bankruptcy discharged, and ensure that all qualifying debt is wiped away.

8 Tips to Help You Get Back on Track

Chapter 13 bankruptcy is a great option for many people who want to restructure their debt. It’s popular because it allows you to catch up on your back bills and stop an impending foreclosure or repossession. If you’re facing a financial crisis, you should consult a Jacksonville bankruptcy attorney as early as possible to learn your options. We’ll take a look at some of the things you can expect when filing for chapter 13. Here are eight pieces of advice to help you get back on track.

1. Start a Support Network

Solid support is the key to your Chapter 13 bankruptcy success. A reliable professional can help you plan for the future and assist with the final steps of bankruptcy.

2. Pay Attention to the Paperwork

Filing for bankruptcy is a complicated process. You will need to have income tax returns, bank statements, and pay stubs. Documents required to file bankruptcy papers can be approximately 50 pages in length. Each page must be completed accurately, honestly, and completely. Bruner Wright’s dedicated team of staff is available to assist you in obtaining the documents required and provide support every step of the way.

3. Stick to Your Budget

You will need to budget carefully and eliminate unnecessary expenses in order to follow a Chapter 13 plan. The monthly payments to the bankruptcy trustee will be calculated by subtracting your expected income from costs. To help cover unexpected expenses, your Jacksonville bankruptcy attorney will offer some flexibility in the repayment plan. To make your repayments on schedule, you must stick to a strict budget during bankruptcy. We will work with you to determine your budget before you file your case. This will ensure that your case has the best chance of success.

4. You Must Pay Your Bills on Time

Chapter 13 bankruptcy allows you to make timely payments and get back on track. This includes child support and alimony, taxes, insurance, and house or car payments that are not covered by the Chapter 13 plan. Failure to pay your plan on time, or default could lead to severe consequences. This could lead to repossession or foreclosure. Debts may not be paid and creditors can start calling you for collection.

5. Keep Up to Date With Notifications

It is important to keep track of court filings and reports throughout the bankruptcy process. Your case may change and you won’t be able to resolve it until your Chapter 13 plan is approved.

Letters from Creditors

Once you file for Chapter 13 bankruptcy, creditors are not allowed to contact you. They must respect the automatic stay. Any correspondence or letters you receive from creditors during this period may be considered a violation of the order. If creditors contact you, let your Jacksonville bankruptcy attorney know so that appropriate action can be taken.

Evidence of Claims

You should receive proof of claims within 90 days after meeting creditors. These claims may be challenged if they are incorrect. A bankruptcy lawyer in Jacksonville FL can assist you in filing the correct paperwork.

Trustee Reports

Regular statements will be sent by the bankruptcy trustee. These reports will show that the amounts disclosed in Chapter 13 are correct and that the creditors’ claims debt doesn’t rise. If you find any inconsistencies, contact Bruner Wright’s Jacksonville FL bankruptcy attorney.

Court Filings

You may be sent letters during bankruptcy about any issues you have with your Chapter 13 paperwork, creditor disputes, or filed legal motions. All legal notifications should be sent to your bankruptcy attorney. Remember that court documents often have strict deadlines that must be adhered to.

6. Keep Your Lawyer Up-to-Date

Your bankruptcy attorney is essential to your ability to survive Chapter 13 bankruptcy. To help you complete a repayment plan successfully, your lawyer must have a clear understanding of your financial situation.

If your income or expenses have changed, let your bankruptcy lawyer know. Your attorney can adjust your plan if you have lost your job, or accumulated medical expenses. Talk to your attorney before you sell or dispose of any assets. If necessary, the Bankruptcy Court may modify your Chapter 13 plan.

7. Complete Credit Counseling and Debtor Education

Before filing for bankruptcy, individuals must complete credit counseling and a debtor education program before they can be discharged. These consultations will help you understand your financial situation and show you how to achieve financial stability. The debt counselors can help you make a realistic plan to manage your debt payments and expenses even after bankruptcy. 

8. Do Not Create New Debt

It is important to contain and minimize debt in order to be able to go through Chapter 13 bankruptcy in Jacksonville FL. Your attorney should be contacted immediately if you need to incur additional debt during the bankruptcy process. Your case could be dismissed if you fail to get court approval or trustee approval before you incur new debt.

Get Legal Advice You Can Trust

The article above can help you get started on your Chapter 13 bankruptcy proceedings. Remember to choose an attorney that is experienced and cares about you, your family, and how these proceedings will impact your future. You are not alone when it comes to dealing with bankruptcy issues so reach out and find the help you need. 

If you’re facing a bankruptcy filing, don’t be afraid to reach out to the professionals at Bruner Wright P.A. They’ve been serving the Florida Panhandle for many years. They can help you make the most of your situation with some good solid information and well-crafted legal counsel. They’ll be there every step of the way until everything is resolved in a way that best suits your needs. Contact us today!