The
purpose of a Chapter 7 Bankruptcy is to wipe out
your debts, allowing you to get a "Fresh Financial
Start".
In a Chapter 7 Bankruptcy
a trustee will be appointed by the court to liquidate
(sell) all assets which do not fall under the bankruptcy exemption guidelines. The net proceeds
collected in the liquidation of the non-exempt assets
are then distributed to your creditors.
A Chapter 13
Bankruptcy, unlike a
Chapter 7 bankruptcy,
does not provide a release of debt, but rather a
restructuring of the debt in a manner which is
considered manageable to repay the dept.
Many times the debt to be
paid back may be less that currently owed through
negotiation. In a Chapter 13 Bankruptcy, a debtor
proposes a repayment plan to the creditors, over a 3 to
5 year period, in a good faith proposal to pay off all
or part of the debts from the debtor's future income.
A Chapter 13 Bankruptcy
can:
-
Prevent
the foreclosure of a home;
-
Make up
delinquent car or mortgage payments
-
Pay back
taxes;
-
Stop
interest from accruing on your tax debt (local,
Florida state, or federal);
-
Keep
valuable property which is non-exempt in a
bankruptcy;
-
And
manage other financial situations which may be
affected by a Chapter 13 bankruptcy
proceeding.
As a law firm providing experienced Chapter 13 Bankruptcy Attorney & Lawyer
legal services, assisting
Palm Harbor, Clearwater, New Port Richey and Southwest
Florida area
residents with
Chapter 7 and Chapter 13 Bankruptcy
legal issues, we are committed to
protecting the legal rights of each and every client, while always
striving to provide
the highest standard of legal representation.
If
you considering filing for a Chapter 13 Bankruptcy, make sure your legal rights are protected
by seeking the legal advice of an experienced
Palm Harbor
Chapter 13 Bankruptcy
attorney & lawyer. Contact
the
Law Offices of Jeffrey A. Herzog, P.A., today by calling
by calling
Toll Free: (866)-789-4002
or
Locally at
(727) 789-4000 to
schedule a confidential legal consultation.
Creditors often will work
with debtors in a Chapter 13 Bankruptcy, as Chapter 13 provides the opportunity to recover funds
from you, as apposed to a Chapter 7 Bankruptcy where the
potential to recover a larger portion of the debt is
diminished.
Those who are more likely to
file for a Chapter 13 Bankruptcy are individuals
who seek to hold on to possessions such as a home,
multiple vehicles, or other property or assets.
A
Bankruptcy will appear on your credit report for 5
to 7 years. This does not mean you cannot get credit
after filing for bankruptcy. Most lenders will extend
credit within two or three years after filing a
bankruptcy case. Generally, the effect of
bankruptcy on your credit is not a bankruptcy
issue; it is a banking or credit issue.
Law
Offices of
Jeffrey A. Herzog, P.A., aggressively defends the legal rights of
those involved in the Chapter 13 Bankruptcy process,
while addressing all related issues that should be taken into
consideration when defending your legal rights.
If
you need legal advice and representation in regarding
Chapter 13
Bankruptcy issues
in
Palm Harbor, Clearwater, New Port Richey,
or the Southwest Florida area, contact an experienced attorney
& lawyer at
the
Law Offices of Jeffrey A. Herzog, P.A., today by calling
Toll Free: (866)-789-4002
/
Locally:
(727) 789-4000,
or
email with any questions, comments, or concerns,
or to schedule a confidential legal consultation.
If you require professional legal advice and
representation in
Palm Harbor,
Clearwater,
New Port Richey, and surrounding Southwest
Florida counties, make sure your legal rights
are protected by seeking the legal advice of an
experienced attorney & lawyer.
Contact
the
Law Offices of Jeffrey A. Herzog, P.A., today by calling
Toll Free: (866)-789-4002
or
Locally at
(727) 789-4000
to schedule a confidential legal consultation.
Call Us Now Toll Free: (866)-789-4002
/ Locally: (727) 789-4000