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Filing Chapter 13 Bankruptcy in Florida

Experienced Jacksonville attorneys guide you through the process

If you are a Florida homeowner struggling under crushing debt, Chapter 13 bankruptcy may allow you to hold onto your home while shedding a significant amount of your debt. But what does the process entail? And what kind of a commitment would you be making? Law Offices of Carol M. Galloway, P.A. can provide reliable guidance to get the relief you need from a Chapter 13 filing. Since 2013, we have helped debtors throughout the Jacksonville area, and we are ready to assist you.

The Chapter 13 bankruptcy process in Florida

Before committing to bankruptcy or any other debt relief plan, you should consult a reputable attorney to learn about your full range of options. Bankruptcy is not for everyone, and different forms of bankruptcy yield different results. When you arrange to meet with one of our knowledgeable bankruptcy attorneys, here are the steps that may follow:

  • Preparation for your first consultation — You must gather all documentation related to your income, your income taxes for the last two years, all types of assets, and your debt, and create a budget of your monthly living expenses.
  • Consultation — Bring all of the above materials to your consultation, so we can accurately assess your options. If you are a candidate for bankruptcy, we can advise you whether Chapter 7 or Chapter 13 is appropriate.
  • Filing — We help you prepare and file your bankruptcy petition and all the related forms.
  • Automatic stay — As soon as you file for bankruptcy, the court issues an order to your creditors, forbidding them from contacting you in an attempt to collect on your debt.
  • Creating your payment plan — Chapter 13 bankruptcy requires you to create a payment plan based on your disposable income. You are required to make one payment per month to the bankruptcy trustee, who distributes the proceeds to your creditors. Depending on your level of income, your payment plan lasts from three to five years.
  • Your §341 Meeting of Creditors — Although this meeting is largely a formality, creditors sometimes appear to object to your payment plan or the dischargeability of your debt.
  • Court approval of your plan — If there are no valid objections to your payment plan, the court grants approval.
  • Plan completed — You must successfully complete your plan by making monthly payments for three to five years.
  • Court discharges remaining eligible debt — At the completion of your plan, the court discharges the remaining eligible debt, such as medical bills, credit card debt, and unsecured personal loans.

Chapter 13 is not the quickest route to debt relief, but for debtors with significant assets and higher than median income, it is often a viable solution, especially when a knowledgeable and concerned attorney guides you through the process.

Contact our experienced attorneys about filing for Chapter 13 bankruptcy

If you have significant debt and a steady income, Chapter 13 bankruptcy may be the best way to keep your home and discharge eligible debt. Call Law Offices of Carol M. Galloway, P.A. at 904-356-7005 or to schedule your bankruptcy consultation at our Jacksonville, Florida office.

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