Chapter 13 bankruptcy

A Chapter 13 bankruptcy can be a good solution for people who need time to pay off certain debts. Unlike a Chapter 7, a Chapter 13 is not a liquidation of your non-exempt assets. In a Chapter 13 individuals will get to keep all of your property, regardless of its value, if you so chose. However, your attorneys will have to develop a payment plan with all of your creditors at a reduced amount over several years.
If you are facing foreclosure on your home, Chapter 13 may be an option of interest. You can keep your home by proposing a feasible repayment plan that includes your missed payments, as long as you stay current on your mortgage. Furthermore, if you have a more than one mortgage on your property, you may be able relieve yourself of payments or your second or third mortgage depending on the value of your home.

Winston I. Cuenant, Esq is an experience attorney in Ft. Lauderdale, Florida. Winston’s areas of expertise include foreclosure defense, consumer chapter 7 and chapter 13 bankruptcy, corporate chapter 7 bankruptcy, contract formation, real estate litigation, and complex commercial transactions. Contact Us for a FREE Case Review - 954-766-4271 or visit Us at http://cuenantlaw.com/