Chapter 13 Bankruptcy in Jacksonville
Reorganizing and Repaying Your Personal Debt
Chapter 13 bankruptcy is a reorganization or repayment type of bankruptcy. Chapter 13 bankruptcy is a good option for people in these circumstances:
- They have mortgages or other loans that they would like to bring current so they do not lose their home or other property
- They have taxes, child support obligations, or student loans that cannot be wiped out by Chapter 7 bankruptcy
- They have moral convictions that all debts should be paid, no matter how long it takes
Speak with the attorneys at King & Dolaghan, P.A. before filing for Chapter 13 bankruptcy. Our firm makes sure that Chapter 13 bankruptcy is the right choice for you.
Filing for Jacksonville Chapter 13 Bankruptcy
Chapter 13 bankruptcy allows the debtor to consolidate many of his or her debts into one payment in a repayment plan. Chapter 13 bankruptcy is used to save your home from foreclosure. The late payments may be caught up over a 60-month period. We help you file Chapter 13 in Jacksonville if you cannot pay your mortgage.
In a Chapter 13 bankruptcy, other secured debt, such as a car loan, are re-amortized over the life of the repayment plan over the life of the plan at a market interest rate. If you have owned the car for more than 910 days, we may be able to “cram down” the payment to what the vehicle is worth, instead of what you owe.
Priority debt such as delinquent taxes or/and child support are paid under the provisions of a Chapter 13 plan.
There are many factors that determine whether you will have to pay anything toward your unsecured debt. If you are required to pay anything toward your unsecured debt, it usually is a small fraction of what you owe.
Your payment under the Chapter 13 plan is often much less than the total of the separate payments to each creditor. Most of your attorney’s fees can be paid through your Chapter 13 plan.
Learn more about Chapter 13 bankruptcy and whether it is the right bankruptcy option for you. Meet with our attorneys for a free initial consultation.
Call 1-904-387-9886 to file Chapter 13 in Jacksonville.
