Chapter 13 bankruptcy is a consumer reorganization and involves the use of your discretionary income to repay creditors over a period of 3 to 5 years. In a Chapter 13 petition, a debtor may be able to reorganize and discharge their financial obligations under the protection of the Bankruptcy Court while experiencing relief through an automatic stay, which requires all debt collection efforts to cease during the pendency of the bankruptcy case. Chapter 13 of the bankruptcy code may be found here.
Filing for Chapter 13 can offer a variety of advantages to a consumer looking to improve their financial affairs, including saving a home from foreclosure, additional time to repay or negotiate with creditors, and a discharge. Chapter 13 can provide a consumer with a fresh start without liquidation of assets which may be required in a Chapter 7 bankruptcy.
Is Chapter 13 right for you? Do you qualify? These are key issues that should be discussed with your attorney before you file. Our Miami Chapter 13 bankruptcy attorneys can provide you with the knowledge and focus required, drawing upon over 45 years of combined legal experience. At Edelboim Lieberman Revah Oshinsky PLLC, we want to help you make the right decision about bankruptcy. We want to help you experience all the potential benefits that Chapter 13 may have to offer.