Brevard County Chapter 13 Bankruptcy Lawyer

Are you dealing with overwhelming debt and need the legal counsel of a trusted Brevard County Chapter 13 bankruptcy lawyer? If so, it may be best to contact Buchalter & Pelphrey, where we are devoted to helping individuals solve their financial difficulties.

Because we understand that sometimes situations leave us struggling to make ends meet financially, we have built a firm devoted to helping individuals overcome their tough times utilizing various tactics, including Chapter 13 bankruptcy business reorganization.

Why Clients Continue to Choose Buchalter & Pelphrey:

• Proven solutions backed by 50+ years of combined experience
• Passionate representation against the IRS
• Thousands of bankruptcy cases handled
• Creative & customized solutions for debt relief

What are The Benefits of Chapter 13 Bankruptcy?

Under Chapter 13, you can speak with creditors to develop a repayment plan that allows you to make one affordable payment rather than numerous payments.

Benefits of Chapter 13 bankruptcy include, but are not limited to:

• One payment
• Plan for 3-5 years, after which most debts are eliminated
• Mortgage modification monitored by the bankruptcy court
• Removal of junior mortgage liens in underwater properties
• Stop foreclosure sales
• Stop wage and bank garnishments

At Buchalter & Pelphrey, we help our clients understand the various benefits of Chapter 13 bankruptcy, explaining how it helps them relieve themselves of unwanted debt. We have more than 50 years of combined experience, during which we have helped thousands of clients reach the favorable outcomes they desire.

Understanding the Chapter 13 Bankruptcy Process

The process of declaring Chapter 13 bankruptcy can be complicated and daunting, but it also offers a new beginning for people burdened with significant debt. Our knowledgeable Chapter 13 bankruptcy attorney in Brevard County can assist you throughout the entire procedure, helping you comprehend the advantages and consequences of filing for Chapter 13 bankruptcy in Florida.

Some key aspects of the Chapter 13 bankruptcy process include:

• Creating a manageable repayment plan to consolidate and reduce debts over time
• It may involve a partial debt discharge
• Requires a consistent income and imposes debt limits
• Protection from foreclosure, wage garnishment, and creditor harassment
• Potential to keep your assets, including your home and car
• Opportunity to reorganize and restructure your finances for a more stable future

Our committed lawyer will collaborate with you to devise a customized plan that caters to your unique financial conditions and aids you in attaining a clean financial slate. Reach out to our Chapter 13 bankruptcy attorney in Brevard County at Buchalter & Pelphrey to initiate your journey toward improved financial stability.

Chapter 13 Bankruptcy & Car Repossession

When you file for a Chapter 13 bankruptcy, most creditors are instantly prohibited from attempting to collect from you. This is known as an "automatic stay." The automatic stay can also prevent your car loan lender from repossessing your vehicle. The automatic stay works in two different situations: after your car has been repossessed and before your car has been repossessed.

Car Repossessed Before Chapter 13

If you can file for bankruptcy before your lender has repossessed your car, the automatic stay can prevent them until the judge approves your repayment plan. Once your repayment plan has been approved, your car will be safe from your lender, provided you remain current on your payments.

Even though your lender cannot repossess your car after you have filed for bankruptcy, you must still make “adequate protection” payments from when you file for bankruptcy until your repayment plan is approved. These payments cover the depreciation of your car during this time period and are generally equal to the amount of your car payment. You must keep making car payments until your plan is confirmed.

Car Repossessed After Chapter 13

If your car was repossessed before you could file for bankruptcy, you may be able to get your car back. This will require you to provide for past-due payments, called arrearage, in your repayment plan. You must also be able to continue making your monthly payments. If your car is repossessed and you intend to file for Chapter 13 bankruptcy shortly, you should contact an experienced bankruptcy attorney immediately.

• Related: Understanding Your Rights in Repossession Cases

Will Chapter 13 Bankruptcy Take All My Money?

When you file for Chapter 13 Bankruptcy, you agree to commit all your disposable income to paying your debt over the life of the repayment plan. Disposable income is what you have left at the end of the month after paying for necessary living expenses.

Contact Our Brevard County Chapter 13 Bankruptcy Attorney

We understand how difficult it is to live paycheck to paycheck and still not have the opportunity to catch up on your debt. By filing for Chapter 13 bankruptcy and coming up with a more manageable repayment plan, you can catch up on the past dues owed and still afford your normal payments.

You can trust that our Brevard County Chapter 13 Bankruptcy Lawyers at Buchalter & Pelphrey will help you petition for Chapter 13 bankruptcy promptly and accurately. If you are dealing with financial distress and feeling overwhelmed, do not hesitate to contact our legal team. We have offices in Merritt Island and Melbourne.