As a family continues to struggle financially in Florida, there could be a lifeline available to the average Florida family stuck in debt with the help of chapter 13 bankruptcy repayment plan. Deciding to file for bankruptcy is not a decision that should be taken lightly and the ideal type of bankruptcy will have to be decided based on the family as well.
One of the best options for ending the financial struggle and establishing a long-term plan for repayment is the option of a Chapter 13 debt repayment plan. Deciding to start filing for bankruptcy is only the first step to establishing a better financial future. Working to submit the paperwork and making sure that you qualify for Chapter 13 bankruptcy is the next step to ensuring that you can be debt-free.
Why Chapter 13 Can Work For Many
Chapter 13 bankruptcy can be an excellent option for many people in Florida that do not qualify for Chapter 7. Chapter 7 bankruptcy requires a specific type of financial need and in the family exceeds this financial need as a result of their income and assets, chapter 13 bankruptcy could allow them to protect items like property or required vehicles. Rather than families having to depend on financial qualifications, chapter 13 gives a second option to many families who have simply had their debt spiral out of control.
Chapter 13 is often chosen over other types of bankruptcy because it gives petitioners a bit more control. Rather than having creditors divide up assets in order to settle the debt, petitioners for bankruptcy will be able to choose what is essential to them and the types of property that they might want to protect under their portfolio. Having access to more control in the settlement can be highly beneficial especially for families undergoing a divorce or facing other difficulties.
The Repayment Plan
Chapter 13 bankruptcy starts with a repayment plan that can assist families in repaying their debts with organized payments over 3 to 5 years. If families are able to repay their debts over three of five years in an agreed-upon amount, they can often get back to a position of financial security. The opportunity to erase some of the debt and harassment from creditors can lead to less stress and he will also ensure that families can enjoy rebuilding their credit in the future.
Repayment plans are essential for families that are interested in keeping hold of their assets that would typically be sold under a Chapter 7 bankruptcy settlement. Many families undergoing chapter 7 have been forced to purchase second-hand vehicles, give up their homes and more.
Is Chapter 13 Bankruptcy The Right Solution For Me?
Chapter 13 bankruptcy may not be the best financial path for your family. If you are deep in debt and, you don’t know how you’ll be able to pay it back chapter 13 does represent an excellent lifeline that you could access. The debt repayment plan that you can use under Chapter 13 needs to be negotiated properly and working with a legal team that has over 30 years of experience in chapter 13 bankruptcy claims can offer you peace of mind.
Working with Bruner Wright today will be an ideal solution for establishing a debt repayment plan that will work for you and your family’s lifestyle.
Our team will provide you with insight into the process of chapter 13 bankruptcy claims. We work with families across Florida and we will assist you in the process of establishing your chapter 13 bankruptcy claim. We will provide you with more information as well as an organized consultation on preparing chapter 13 bankruptcy. As our team, has over 30 years of experience in this field we can help you to move forward with a better understanding of the process of bankruptcy. We want to make sure that you can make an informed decision on whether chapter 13 bankruptcy will be an ideal choice for your future.
At our firm, we will also work to make sure that you can have proper advocates in managing your debts for the future. We will help to establish a repayment plan that will work for you and your family. We will ensure that you can protect the assets that are most dear to you and have a plan that you can follow for 3 to 5 year debt repayment.
If you are considering bankruptcy or you feel lost in the debt that you have taken on, contact our team today. We will layout the process of your debt repayment plan and work with your creditors to stop the phone calls. You could be living without debt in three of five years with the help of Bruner Wright.
If you have fallen into debt and not sure how to move forward contact us today for a free consultation!