CHAPTER 13 BANKRUPTCY QUESTIONS

Frequently Asked Questions: (F.A.Q.)

What is Chapter 13 bankruptcy?
What happens to my property in a Chapter 13 bankruptcy?
Do I have to repay 100% of my debts in a Chapter 13 bankruptcy?
What will my monthly payment be in a Chapter 13 bankruptcy?
Will Chapter 13 bankruptcy stop a garnishment or utility shutoff?
Will Chapter 13 bankruptcy stop a foreclosure?
Will Chapter 13 bankruptcy stop a car repossession?
I have a previous bankruptcy. Can I still file a Chapter 13 bankruptcy?

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What is Chapter 13 bankruptcy?

Chapter 13 bankruptcy is a repayment plan bankruptcy. You repay a portion of your debts over three to five years. The unpaid portion of the debts is eliminated, just like in a Chapter 7 bankruptcy. At your free consultation, Attorney Todd Budgen will review your debts and give you an estimated repayment plan for your Chapter 13 bankruptcy.

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What happens to my property in a Chapter 13 bankruptcy?

Generally, you keep all your property when you file a Chapter 13 bankruptcy. Because you are repaying a portion of your debts, the bankruptcy does not attempt to sell your property. At your free consultation, Attorney Todd Budgen will review your property and discuss what effects a Chapter 13 might have.

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Do I have to repay 100% of my debts in a Chapter 13?

No. If you cannot repay 100% of your debts within the Chapter 13 time limit, the unpaid portion of most debts will go away, just like in a Chapter 7. At your free consultation, Attorney Todd Budgen will tell you which of your debts will be eliminated, which debts will be paid in full, and which debts will not be discharged by a Chapter 13 bankruptcy.

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What will my monthly payment be in a Chapter 13?

In most cases, your Chapter 13 payment is determined by your monthly budget. Attorney Todd Budgen will help you create a monthly budget based on your income and necessary monthly expenses. In many situations, your Chapter 13 payment will be equal to the money you have left over after you pay your necessary living expenses.

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Will Chapter 13 bankruptcy stop a garnishment or utility shutoff?

Yes. As soon as your bankruptcy is filed with the court, a garnishment will stop and any utility shutoff will be prevented.

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Will Chapter 13 bankruptcy stop a foreclosure?

Yes. As soon as your bankruptcy is filed with the court, the foreclosure will stop. Chapter 13 bankruptcy will also allow you to repay your mortgage arrears in full, over a period of three to five years. Schedule a free consultation with Attorney Todd Budgen to learn more.

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Will Chapter 13 bankruptcy stop a car repossession?

Yes. As soon as your bankruptcy is filed with the court, the repossession will stop. Chapter 13 bankruptcy will allow you to repay your car arrears in full, over a period of three to five years. Schedule a free consultation with Attorney Todd Budgen to learn more.

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I have a previous bankruptcy. Can I still file a Chapter 13 bankruptcy?

Yes. Chapter 13 bankruptcy is available even though you have filed a previous bankruptcy. At your free consultation, Attorney Todd Budgen will discuss the effect your previous bankruptcy will have on a new Chapter 13 bankruptcy.

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There may be many other Chapter 13 Bankruptcy issues that may have to be addressed, depending upon your unique circumstances and how the bankruptcy laws apply to your current situation.

Contact an experienced Chapter 13 Bankruptcy Attorney (lawyer) at the Budgen Law today to schedule a free and confidential legal consultation.

Call Us Now 407.481.2888

Orlando Chapter 13 Bankruptcy Lawyer, Todd Budgen provides experienced Chapter 13 Bankruptcy Attorney legal Services in Orlando, Longwood, Maitland, Orange County, Seminole County and the surrounding Central Florida areas.

BUDGEN LAW
640 East State Road 434,
Suite 3000
Longwood, FL 32750
Phone: 407.481.2888
Fax: 407.313.1119

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