Chapter 13 Bankruptcy in Fort Lauderdale
Experienced Attorneys with 80 Years of Combined Legal Experience
Are you facing insurmountable debt? Financial troubles can be extremely stressful and may bleed into other aspects of your life, leaving you caught in a tangled web with no clear path out. Thankfully, you may be able to utilize bankruptcy as a useful tool to resolve your unpaid debts and move forward with your life.
If you are dealing with hefty debts and wish to retain your assets, Chapter 13 bankruptcy could help you repay a portion of your debts and start again with a clean slate. To find out if Chapter 13 bankruptcy is a viable option for you, seek legal counsel from our skilled attorneys.
Why Choose LSAS?
At Leiderman Shelomith Alexander + Somodevilla, PLLC, our team has more than 8 decades of combined legal experience, and we work primarily on bankruptcy and debt resolution cases. We have extensive hands-on practice with complex bankruptcy cases, and we are committed to providing each of our clients with the personalized legal strategy they need and deserve. We understand no two cases are alike, and we want to find a resolution that puts you back on track for a better financial future.
Contact LSAS today to discuss your case with our Fort Lauderdale bankruptcy attorneys.
What is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy allows individuals and couples with substantial debt to reassess their financial situation and regain a solid footing through an approved repayment plan. Individuals facing home foreclosure can use Chapter 13 to stop the foreclosure proceedings and obtain a payment plan to repay a portion, or all, of their debts.
The Chapter 13 Bankruptcy Process
Once the bankruptcy case is filed and the repayment plan is approved, you, the debtor, will be responsible for maintaining the monthly payments you’ve committed to under the bankruptcy terms. Payments will typically go to a Chapter 13 bankruptcy trustee, not the creditors directly. Those repayments typically last between 30-60 months, or 3-5 years. The trustee will then disperse the payments to the appropriate creditors.
Chapter 13 vs. Chapter 7 Bankruptcy
Though Chapter 7 bankruptcy is more popular for individual debtors, Chapter 13 may be a more appealing choice under certain circumstances. In Chapter 7 bankruptcy, also called liquidation bankruptcy, the debtor will use properties, assets, or other funds to repay a portion of their outstanding debts. For those who wish to retain their assets, especially their home, Chapter 13 might be a better option. Also, for those who earn more than the predetermined limit for Chapter 7 bankruptcy, Chapter 13 may be their only viable choice.
Whatever the reason, if you are considering Chapter 13 bankruptcy to resolve your debts, make sure you get in contact with our experienced legal team for help.
Customized Financial Strategies in Fort Lauderdale
Our attorneys at LSAS are committed to providing our clients with the best possible legal plan for their situation. We understand that no two cases are alike, which is why we provide each of our clients with the one-on-one attention they deserve during this difficult time. Our ultimate goal is to find a beneficial bankruptcy strategy that helps you and your family find a workable repayment plan so you can get back on your feet as soon as possible.
Ready to get started? Contact Leiderman Shelomith Alexander + Somodevilla, PLLC to discuss your situation with our team.
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