Jacksonville Chapter 13 Bankruptcy Lawyer

Don’t Let Debt Control Your Life – Call Owenby Law, P.A. for Help!

Just because you have fallen behind on your mortgage payments and other bills doesn't mean that you have to lose your house. At Owenby Law, P.A., we assist Florida homeowners and other borrowers in reorganizing their debt under Chapter 13 bankruptcy. Unlike Chapter 7 bankruptcy, Chapter 13 allows the petitioner to submit a three to five-year plan to the bankruptcy courts for the repayment of his or her debt.

As long as the terms of the repayment plan are followed, a debtor can emerge from Chapter 13 bankruptcy with a full discharge of all remaining debts. Our Jacksonville bankruptcy attorneys are intimately familiar with the state laws and legal requirements that govern Chapter 13 bankruptcy, so please don’t wait to find out how we can put this knowledge to work for you. Contact our firm today for a free initial consultation.

Need debt relief? Request a free initial consultation online or call us at (904) 770-3141!

Can Chapter 13 Bankruptcy Save My Home from Foreclosure?

If your home is in foreclosure or you are aware that foreclosure is imminent, you may be able to save your house through Chapter 13 bankruptcy. You will not be able to delay foreclosure indefinitely with the automatic stay, and at some point it will be necessary to bring your mortgage current and keep it current, but you may be able to keep your home as part of your restructuring plan. While both Chapter 7 and Chapter 13 allow you to retain certain exempt assets because you are working to repay your debts, Chapter 13 would allow you to retain a higher level of equity.

There are several other benefits to Chapter 13 bankruptcy, which include:

  • You pay what you can afford over three to five years
  • The automatic stay will protect you from debt collections
  • Second or third mortgages can be removed or stripped
  • You may be able to “cram down” on an automobile loan
  • Any debts you do not pay will be discharged in full

Orders of Payment in Chapter 13 Bankruptcy

When you file for Chapter 13 bankruptcy, you will be required to make monthly payments to a trustee, who will then disperse that money among your creditors. Because the creditors have been forced to modify their existing agreement to accommodate the plan, bankruptcy courts emphasize the importance of making payments to the trustee according to the schedule. If you miss a payment, make a partial payment, or are delinquent, the court may issue an "order of payment," which will result in the garnishment of your wages, or it may dismiss your bankruptcy altogether.

If you fail to make required payments, our firm can assist you with:

  • Hardship discharge requests
  • Monthly payment plan modifications
  • Chapter 7 bankruptcy conversions
  • Chapter 13 bankruptcy refiling

Be Proactive! Contact Owenby Law, P.A. for Smooth Debt Restructuring.

When it comes to dealing with creditors, the more proactive you are, the smoother the debt restructuring process will be. If you are a Florida resident who has fallen behind on your monthly bills but still has some income, Owenby Law, P.A. can help you get back on track. Our Jacksonville bankruptcy lawyers help people file for bankruptcy relief under the U.S. Bankruptcy Code. Payment plans are available for those who qualify.

Please contact our legal team today to learn more about Chapter 13 bankruptcy.