You may file for Chapter 13 Bankruptcy, also referred to as Reorganization Bankruptcy, allows for the ability of a debtor to retain certain assets that would otherwise be liquidated by a Chapter 7 bankruptcy trustee. If you are an individual with a regular income who can pay for their living expenses but can not keep up with your debt payments. They must have less than $383,175 in unsecured debt and whose secured debts are less than $1,149,525. Chapter 13 bankruptcy protects individuals from the creditors and collection harassment, allows them to retain their real estate & personal property, and provides them the opportunity to repay their debts through reduced payments.
When debt reorganization occurs, the payments typically last for 36-60 months, depending on income and the purpose of the bankruptcy.
Chapter 13 Bankruptcy Attorneys in Orlando, Florida
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