Tampa Chapter 13 Bankruptcy Attorney

Bankruptcy Lawyer Serving Greater Tampa

An individual who fails to qualify for a Chapter 7 may file a Chapter 13 bankruptcy. In a Chapter 13 case, the debtor submits to the court a plan for the repayment of all or a portion of his debts. This type of bankruptcy is useful for those who have fallen behind on mortgage or car payments and want to catch up without losing their assets. When a Chapter 13 petition is filed, an automatic stay is imposed, which stops collections such as foreclosures and repossessions. The arrears on these debts are made up by placing them into a repayment schedule. Regular payments along with payments included in the repayment schedule must be made by the debtor.

If you need assistance with a Chapter 13 bankruptcy in the Tampa area, please contact my firm to schedule a consultation as soon as possible. As a Tampa Chapter 13 bankruptcy lawyer, I concentrate on Florida bankruptcy cases. Because of this, my firm is well-versed in all aspects of bankruptcy and I can provide the in-depth knowledge and resources you need to navigate the bankruptcy process.

Chapter 13 Bankruptcy

The debt repayment plan that the debtor submits to the bankruptcy court must be approved by the court for it to become effective. If the court approves the plan, most creditors will be prohibited from making collection attempts from the debtor. The debtor will be required to make regular payments to the Chapter 13 trustee, who collects the money paid and disburses it to the creditors per the repayment plan. When all of the payments called for in the plan have been completed, the debtor is released from liability for the remainder of his dischargeable debts. 

Chapter 13 can only be used by individuals.