Basic Facts about Chapter 13 and Why It May Be a Good Choice
As your chapter 13 bankruptcy lawyer in Tampa can explain, Chapter 13 filings represent the second most frequent types of filings behind Chapter 7. Where Chapter 7 is aimed at providing a clean slate for those who qualify, it’s often not a viable option for several reasons. Chapter 13 can provide debt relief for individuals who have an income high enough to preclude them from Chapter 7 and for those who have filed recently.
Like Chapter 7, a Chapter 13 filing can provide critical immediate relief from collections actions. Additionally, the ability of the debtor to hold on to more property when all is said and done is often an appealing aspect of this type of filing.
Our Chapter 13 Bankruptcy Lawyer in Tampa Will let You Know What to Expect from the Chapter 13 Process
Your chapter 13 bankruptcy lawyer in Tampa can help evaluate whether you qualify to file for Chapter 13. Then, your attorney can walk you through the significant amount of paperwork and schedules required to properly file. Chapter 13 is aimed at developing a workable repayment plan for a debtor to be completed over a period of years. Therefore, the focus is not on liquidation as it is in Chapter 7, but more on restructuring how the debtor pays his or her bills. This does put the debtor and his or her personal finances within the supervision of the bankruptcy court for a longer period of time. For many debtors this is not desirable.
The first step in making a strategic debt management plan is to talk to a knowledgeable attorney.
With one of our skilled chapter 13 bankruptcy lawyers in Tampa as your advocate, you can take advantage of bankruptcy laws and begin rebuilding your life. To schedule an appointment with the offices of Savage Villoch Law, PLLC, call 813-251-4890. Begin the process of taking charge of your financial life again. Call us today.