Filing Chapter 13 Bankruptcy in Florida
2 videos • 12 views • by Lanigan&Lanigan A Chapter 13 bankruptcy is a bankruptcy where you'll be able to keep property and will pay back debts over a three to five year period on a strict repayment plan. A Chapter 13 bankruptcy may work for people who: 1. Want to keep a home by proposing a feasible repayment plan that includes full repayment of missed payments. 2. Can get and stay current on a mortgage. 3. Need time to pay off some debts and who have the income to continue to pay according to requirements. You keep all of your property in a Chapter 13 bankruptcy regardless of its value but you will have to pay off your unsecured debts (courts, medical and credit cards). If you are facing foreclosure on your home you have to repay what’s owed to become current on the mortgage to qualify for Chapter 13. For a Chapter 13 bankruptcy you will have to disclose your economic transactions, your property and debts from the several years before you’ve filed. You have to show and prove your current monthly income and proof of your disposable income and whether it is more or less than the median income in your state. If you're considering bankruptcy in 2016, consult with an attorney so that your options remain open. You may reach Eric Lanigan and Roddy Lanigan of Lanigan and Lanigan in Winter Park, Florida by making an appointment. Call 407-740-7379.