Jacksonville Chapter 13 Bankruptcy Attorney

Filing for Chapter 13 in Jacksonville, Florida

There are many people who have income from employment or make income through self employment on a steady basis that will not qualify to file chapter 7. Some people don't want to risk liquidation of valuable assets, and choose not to file chapter 7, but use chapter 13 to resolve their financial problems. This is also called "reorganization bankruptcy" as it allows you to reorganize you debts and pay them off over a 3 - 5 year term. This is an appealing solution for those people who do not want to lose their home, or have co-signers on their mortgage, or just make too much money to qualify for chapter 7.

Chapter 13 Bankruptcy Lawyer

The means test is the first step in the bankruptcy process. When our Jacksonville bankruptcy lawyer from our firm is managing your bankruptcy, this is the first step that must be undertaken. This test will determine your income, your bills and how much money is left over (per the allowed amounts) to pay off your outstanding obligations.

Even in a chapter 13, usually those that file do not pay the full amount of the outstanding debt that they have accrued. Once the term of the bankruptcy is complete, and all payments have been made, any remaining debt is discharged. Most debts will not have high interest or penalties, which is another huge advantage, as debts can continue to increase and be impossible to manage when the interest and penalties continue to grow. We have found that chapter 13 is an excellent option for those who are making money through work, are suffering from some sort of financial stress, and need to get it under control, once and for all.

Contact a Jacksonville chapter 13 bankruptcy attorney from our firm for a free initial consultation to discuss filing chapter 13.