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
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
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.