This page was written, edited, reviewed & approved by Emil J. Fleysher following our comprehensive editorial guidelines. Emil J. Fleysher, the Founding Partner, has 15+ years of legal experience as a bankruptcy attorney. Our last modified date shows when this page was last reviewed.
In Deerfield Beach, financial struggles can feel like a heavy weight that's hard to lift. But we have a solution that might work for you: … Chapter 13 bankruptcy.
At Fleysher Law, our experienced bankruptcy attorneys are here to guide you through this option, designed to help individuals reorganize their debt. Our goal is to provide you with a fresh start, helping you manage your debts in a way that fits your financial situation.
Our Deerfield Beach Chapter 13 bankruptcy lawyer understands the complexities of bankruptcy law. With a deep knowledge of navigating these challenging waters, we're committed to making the process as clear and straightforward as possible.
Whether you're facing foreclosure defense, overwhelming credit card debt, or just looking to restructure your finances, we're here to help. A free consultation with our team can set you on the path to financial recovery.
Navigating the Chapter 13 bankruptcy process requires careful planning and understanding. Our Deerfield Beach bankruptcy attorney is here to offer a comprehensive guide through each step. From filing for bankruptcy to creating a manageable repayment plan, we ensure you have all the necessary information. Our approach is personalized, recognizing that every financial situation is unique.
Chapter 13 bankruptcy is a path to regain control over your finances without losing your assets. It's a solution that allows you to consolidate your debts into a single monthly payment. Our law firm focuses on providing the support and advice you need to make informed decisions about your debt settlement. Let us help you find the path to financial stability.
Chapter 13 bankruptcy, often called the wage earner's plan, lets individuals with regular income craft a plan to repay all or part of their debts.
Under this plan, you propose a repayment plan to pay down your debt over three to five years. This type of bankruptcy is ideal for those looking to avoid foreclosure or repossession, offering a way to catch up on missed payments while staying current with ongoing obligations.
Unlike other forms of bankruptcy, Chapter 13 focuses on debt reorganization rather than liquidation. This means you can keep your property while working on your debt settlement. It's a powerful tool for those in Deerfield Beach looking to overcome financial hurdles without starting from scratch.
Our Deerfield Beach bankruptcy lawyer is ready to assist you in understanding and utilizing this option effectively.
Creating a viable repayment plan is crucial in Chapter 13 bankruptcy. Considering your income and living expenses, this plan outlines how to repay your debts. It's designed to be realistic, allowing you to maintain a basic standard of living while fulfilling your debt obligations. Our Deerfield Beach bankruptcy attorneys work with you to develop a plan that fits your financial situation and meets court approval.
The repayment plan's duration depends on your income level relative to the state median. You'll likely propose a five-year plan if your income is above the median. For income below the median, a three-year plan may suffice. We ensure your plan is structured effectively, maximizing the chance of court approval and successful debt settlement.
Restructuring your debts under Chapter 13 involves creating a repayment plan that consolidates your debts into a single monthly payment. This plan considers your income, living expenses, and debt obligations, aiming to make debt repayment feasible without sacrificing your basic needs.
Our Deerfield Beach bankruptcy lawyer ensures your plan is realistic and compliant with bankruptcy laws, giving you the best chance at financial recovery.
In crafting your repayment plan, we prioritize essential expenses like housing, food, and healthcare, ensuring you maintain a decent quality of life. We then allocate the remaining income towards your debts, focusing on secured debts and priority unsecured debts. Our approach aims to balance your needs with the requirements of the bankruptcy court, setting you on a path to debt relief.
Eligibility criteria for Chapter 13 include having a regular source of income sufficient to cover your monthly debt payments under the plan. Additionally, your total debt must not exceed the limits of bankruptcy law. Our Deerfield Beach bankruptcy attorneys assess your financial situation to determine if Chapter 13 is viable for you.
Understanding your eligibility is the first step in the process. Our team reviews your financial documents, including income, debts, and expenses, to ensure you meet the Chapter 13 requirements. If you're facing financial challenges but are unsure if you qualify, our free consultation can provide the answers you need.
A Chapter 13 bankruptcy lawyer helps you navigate the complex bankruptcy process. Our attorneys provide expertise and support every step of the way. We handle the legal paperwork, represent you in court, and communicate with creditors on your behalf. We aim to make the bankruptcy process as stress-free as possible for you.
Our Deerfield Beach bankruptcy law firm is committed to providing personalized service. We understand that each client's situation is unique, so we tailor our legal strategies to meet your specific needs.
Whether you're struggling with credit cards, worried about foreclosure, or simply seeking a better way to manage your finances, we're here to help.
At Fleysher Law, we believe in crafting personalized legal strategies for each client. Our approach considers your unique financial situation, goals, and challenges. We offer solutions beyond just filing for bankruptcy, including debt settlement and foreclosure defense. Our comprehensive services are designed to provide lasting debt relief and a path to financial stability.
Our team works with you to understand your financial picture and develop a plan addressing your needs. Whether it's through Chapter 13 bankruptcy or another form of debt relief, we're dedicated to finding the best solution for you. We aim to help you achieve financial freedom, allowing you to move forward.
Rebuilding your credit after bankruptcy helps you rebuild your financial health. Our Deerfield Beach bankruptcy attorney guides you through improving your credit score. From securing a secured credit card to consistently making on-time payments, we offer tips and strategies to help you rebuild your credit.
The process takes time and patience, but it's possible. Following a structured plan and adopting responsible financial behaviors can gradually increase your credit score. Our law firm supports you in this journey, offering advice and resources to ensure your success.
How long does a Chapter 13 bankruptcy case take in Deerfield Beach?
Chapter 13 bankruptcy typically involves a repayment plan that lasts 3 to 5 years, depending on your income and financial situation.
Can I keep my house if I file for Chapter 13 bankruptcy?
Yes, one of the primary benefits of Chapter 13 bankruptcy is preventing foreclosure and keeping your home by incorporating mortgage arrears into your repayment plan.
How does filing for Chapter 13 affect my credit score?
Filing for Chapter 13 bankruptcy will impact your credit score initially, but it also provides an opportunity to rebuild your credit over time through consistent repayment and financial management.
If you're considering Chapter 13 bankruptcy or seeking ways to manage your debt, our Deerfield Beach, FL, bankruptcy lawyers are here to help.
At Fleysher Law, we proudly serve the Fort Lauderdale and Boca Raton areas and have experience with consumer bankruptcy cases. Contact our Deerfield Beach chapter 13 bankruptcy lawyers today to schedule a case consultation. We can see if the decision to file bankruptcy is right for you.
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How does Chapter 13 bankruptcy work in Florida?
Chapter 13 bankruptcy provides a structured approach to managing debt for individuals with a consistent income. It entails developing a repayment plan to satisfy creditors via scheduled installments over a three-to-five-year period..
What is the income limit for filing Chapter 13 in Florida?
Chapter 13 bankruptcy does not impose an upper income limit; however, there are restrictions on the permissible amount of debt. It is advisable to seek counsel from legal professionals, such as the Florida bankruptcy attorneys at Hoskins, Turco, Lloyd & Lloyd, to ensure a more efficient and orderly process.
How much does a lawyer charge for Chapter 13 in Florida?
Within the Middle District of Florida, the customary attorney fee for Chapter 13 bankruptcy proceedings is $4,500, which is the amount generally billed by legal practitioners. The cost of legal representation in these matters usually fluctuates between $3,000 and $5,000.
How many times can you file Chapter 13 in Florida?
In the state of Florida, there exists no statutory limitation on the frequency with which an individual may file for bankruptcy. Notwithstanding any prior discharge received, individuals retain the legal right to initiate subsequent bankruptcy proceedings should they encounter subsequent financial adversity.
Is it hard to get credit after Chapter 13?
Following the completion of a Chapter 13 bankruptcy discharge, credit scores generally fall within the poor to fair range (300-659). However, many individuals experience an improvement in their credit rating within one to two years by consistently implementing sound financial practices.
Is it hard to get credit after Chapter 13?
Following the completion of a Chapter 13 bankruptcy discharge, credit scores generally fall within the poor to fair range (300-659). However, many individuals experience an improvement in their credit rating within one to two years by consistently implementing sound financial practices.
How long does a chapter 13 stay on your credit?
Chapter 13 bankruptcy is usually automatically deleted from your credit report seven years after you file.
How long does it take to clear Chapter 13?
Chapter 13 bankruptcy, officially designated as a wage earner's plan, offers a structured method for individuals with stable income to implement a debt repayment schedule. The period of this repayment, which is determined by the debtor's income level and the plan's particular details, extends between three and five years.
How much do you pay monthly for bankruptcies?
Bankruptcy proceedings typically involve a consistent monthly outlay of approximately $200, maintained for a period of nine months. However, should an individual's income surpass established Low Income Cut-Offs, a proportion of said income may be required to be disbursed to creditors throughout the bankruptcy period. The final duration of the bankruptcy is contingent upon the specific circumstances of each individual case.
How much will my monthly payment be for Chapter 13?
Determining the required monthly payment in Chapter 13 bankruptcy necessitates the initial computation of the total income for the six months prior to the filing. Following this, authorized expenditures will be subtracted to ascertain the disposable income. This resultant disposable income will be employed to address priority debts and any secured debts the debtor aims to maintain after bankruptcy proceedings.
Do you have to close all credit cards in Chapter 13?
Despite the common voluntary relinquishment of credit cards by debtors, which are frequently deactivated by issuing companies upon the filing of bankruptcy, neither the bankruptcy court nor the trustee possesses the legal authority to compel such surrender.
Do late payments go away after bankruptcies?
An individual's credit history may indicate previous instances of payment delinquency or bankruptcy. Therefore, all debts discharged during a bankruptcy proceeding will remain documented on the individual's credit report as a matter of record.
How do you convince a creditor to remove late payments?
Try Writing a Goodwill Letter to Remove It From Credit Reports. A goodwill letter explains why you had a late payment and asks the creditor to take it off your credit reports.
Can you start over after bankruptcies?
It is comprehensible that one might presume their credit is irreparably harmed following bankruptcy. Nonetheless, the immediate phase succeeding discharge presents an opportunity to restore creditworthiness, frequently at an accelerated rate.
What is the minimum debt for Chapter 13?
The debt limitations prescribed by Section 109(e) for Chapter 13 bankruptcy, promulgated on April 1, 2019, will persist throughout the years 2019, 2020, and 2021. Consequently, the debt ceilings applicable to Chapter 13 cases in 2020 are established as $465,275 for unsecured debt and $1,395,875 for secured debt.
How much will my monthly payment be for chapter 13?
In Chapter 13 bankruptcy proceedings, the determination of monthly disbursements necessitates the initial calculation of total income earned in the six-month period preceding the filing date. Subsequently, authorized expenditures are deducted from this total to ascertain disposable income. The subsequent phase requires the settlement of priority debts and any secured debts the debtor intends to retain post-discharge.
Emil specializes in consumer bankruptcy, debt settlement, and mortgage modification, offering a holistic approach to solving mortgage and debt problems. Emil listens to clients, understands their circumstances and goals, and helps them make the right choices by presenting all options and contingencies.
He is dedicated to helping South Floridians regain their financial freedom from overwhelming debt caused by high interest credit cards, bad mortgage loans, and uninsured medical expenses.
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