If you are an individual or business owner dealing with debt, your income will not realistically allow you to repay. You could find the relief you need by filing for bankruptcy. Our Daytona Beach Chapter 13 bankruptcy lawyers can describe the process in detail, including timelines, required documentation, the means test, and court appearances. We also clarify the various benefits of the automatic stay.
You do not have to navigate bankruptcy’s legalities on your own. Our Daytona Beach bankruptcy lawyers can help you understand this beneficial form of debt relief and weigh your options. At Bogin, Munns & Munns, we have served central Florida for over 40 years—we are here for Florida and here for you. Contact our consultation team today to learn more about your potential debt relief options.
Get Legal Support From our Daytona Beach Chapter 13 Bankruptcy Lawyers
Bankruptcy can be the right choice to help you get out of debt and start over, but you must weigh your options before making a decision. Filing for bankruptcy is a complex legal matter—even U.S. Court guidelines recommend getting legal support. When we manage your team, we will:
- Carefully examine your existing debt in detail, including gathering information that ensures no qualifying debt is overlooked
- Create a complete list of your creditors and any correspondence, including bills and other demands for payment
- Identify any Chapter 13 exemptions and enforce the automatic stay, where applicable, for its immediate relief
Our Daytona Beach commercial law lawyers also negotiate the amount of debt you owe with your creditors and work with you and them to create a manageable repayment plan you can realistically abide by. Our firm knows that this is a difficult time for you emotionally, so we vow to treat you like family by offering open, easy, fast communication with our team. Our firm strives to give representation based on respect, dignity, and fairness.
We Can Help Determine Your Eligibility for Chapter 13 Bankruptcy
Bankruptcy has many different options for financial relief, each dependent on your financial circumstance and whether you are filing as an individual, business, or other entity. To qualify for Chapter 13, you must:
- Be a wage earner with a regular source of income
- Self-employed and sole proprietors can also qualify for this chapter
- Your debt does not exceed $2,750,000 in its totality
- Have not filed for bankruptcy in the 180 days preceding this filing and had the case dismissed under certain circumstances
- Have undergone mandatory credit counseling from an approved agency
There are limited exceptions available for emergency circumstances. The best way to figure out if you are eligible for bankruptcy or any exceptions is to let our bankruptcy team manage the details of your case. We start by having you complete our bankruptcy questionnaire to gain a clear picture of your finances to guide you toward a much-needed financial reprieve.
To consult with an experienced chapter 13 bankruptcy lawyer serving Daytona Beach
855-780-9986
Our Chapter 13 Bankruptcy Lawyers Describe Its Debt Relief Advantages
If you are looking for relief from significant debt, bankruptcy can provide it. According to U.S. Courts guidelines, Chapter 13 bankruptcy offers many advantages for wage earners. Its pros include:
- The ability to repay debt on terms you help design and that work for you
- A smaller impact on your credit rating than other bankruptcy Chapters
- Stops foreclosure and gives you the chance to catch up on mortgage payments
Chapter 13 has an additional benefit—the automatic stay—that can provide immediate relief from harassing and intrusive creditors and their demands for payment. Our lawyers can notify creditors and help you reap its benefits, where applicable.
What You Should Know About Chapter 13 Bankruptcy’s Disadvantages
There are some cons to Chapter 13 that you should be aware of. Its repayment plan alone can take up to five years, effectively tying up a large portion of your disposable income for its duration.
Additional cons include the loss of all existing credit cards and the inability to obtain new ones. With this plan, you will still have to meet your spousal and child support obligations.
There are some alternatives to Chapter 13, and our Daytona Beach Chapter 13 bankruptcy lawyers will go over them with you to ensure you make a well-informed bankruptcy decision. You may be able to file under Chapter 7 or you could attend credit counseling that can help you get your debt under control. Contact our consultation team at Bogin, Munns & Munns to learn more about your options today.
What to Expect During the Chapter 13 Bankruptcy Process
Filing for Chapter 13 is an involved process that includes a means test. According to U.S. Courts information, the means test is how your disposable income is assessed. We guide you through completing the required forms and work with a trustee to ensure your assets are categorized accurately.
The Role of the Bankruptcy Trustee
The bankruptcy court will appoint a trustee to your case. They serve as an impartial party who takes an objective look at your income, assets, and debt. They will monitor your proceedings, look for fraud, and conduct a meeting of your creditors. Our lawyers work closely with you and your appointed trustee to clarify goals and obtain necessary certifications.
We Support You at the Meeting of Creditors
Your trustee will schedule this meeting with any creditors who choose to attend. Your identification will be verified, and you will answer questions under oath. The trustee will ensure all your disposable income is going toward your debt repayment plan.
We know it can sound intimidating, but this meeting is straightforward, and you will probably not have to attend another. We will be with you and the trustee will make his final decision about your bankruptcy filing.
Credit Counseling is Mandatory
Chapter 13 filers must attend credit education classes and debtor education classes. We will help you find an approved course and establish its completion to the court’s satisfaction.
Daytona Beach Chapter 13 Bankruptcy Lawyer Near Me
855-780-9986
Get a Free Chapter 13 Bankruptcy Review in Daytona Beach Now
Getting out from under the weight of overwhelming debt can be incredibly beneficial, but it can feel difficult to begin. Our Daytona Beach Chapter 13 bankruptcy lawyers can clarify your options and describe the filing process, timeline, and benefits.
Find out how the right bankruptcy filing can give you a fresh financial start. Contact our consultation team at Bogin, Munns & Munns to get your free bankruptcy review today. We can conduct your consultation over the phone or through a video call.
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