Are you a Space Coast resident dealing with debt you cannot reasonably repay? The Melbourne Chapter 13 bankruptcy lawyers at Bogin, Munns & Munns can help you reorganize your debt load into a realistic repayment plan. Should you qualify, our client-focused team can help you get a handle on your finances. We help wage earners through the process of reorganizing debt into a manageable repayment plan that lets you keep your home, car, and other assets.
Overwhelming debt does not have to control your life, nor do you have to find your way out alone. Our Melbourne bankruptcy lawyers will clarify your options for getting financial relief to help you rebuild your finances. Contact one of our team members today to schedule your free consultation.
How Our Chapter 13 Bankruptcy Attorneys Support Debtors in Melbourne, FL
Bankruptcy can help you regain control of your finances and create a path out of overwhelming debt. Our Melbourne commercial law lawyers provide the personalized guidance and support you need to make the most of your current finances while getting your debt under control. However, the process can feel daunting, though it’s not one you have to manage alone.
When you trust our bankruptcy team to handle your claim, we will:
- Create a detailed list of your creditors
- Inform creditors of the automatic stay
- Assess your Chapter 13 exemptions
- Negotiate repayment schedules with creditors
- Protect your home from foreclosure
- File your bankruptcy petition in court
You also get the peace of mind that comes with knowing your bankruptcy case meets all the required legal parameters.
We Can Help You Define Your Eligibility for Chapter 13 Bankruptcy
Insurmountable debt can make necessary everyday purchases difficult. It can also lead to stress, tension, and worry. Chapter 13 bankruptcy can be a lifeline that helps you overcome the strain of disproportionate debt. Its required credit counseling can also help you stay on top of your finances later.
According to U.S. Courts guidelines, you qualify for Chapter 13 bankruptcy if:
- You are an individual earning a regular income
- You are self-employed or a sole proprietor
- Your entire debt load is less than $2,750,000
- You took the required debt education course
In addition, you cannot have filed for bankruptcy in the previous 180 days. The court can make exceptions to these regulations, but these are rare. The best way to understand your rights and options is to let our bankruptcy attorneys manage the details and keep you updated as your case progresses.
To consult with an experienced chapter 13 bankruptcy lawyer serving Melbourne
(855) 780-9986
The Advantages of Choosing Chapter 13 Bankruptcy in Melbourne
If you are a wage earner with a regular source of income, Chapter 13 bankruptcy could help you find new ways to manage and repay your debt. The advantages of filing under Chapter 13 include:
- Less of a negative impact on your credit score than other bankruptcy chapters
- You can keep your house, repay any past-due amount, and avoid foreclosure
- Consolidate existing debt and make a single payment to the bankruptcy trustee
- Eliminate unsecured debt or reduce it to a more manageable repayment amount
- Protecting cosigners from financial liability for your overdue debt
You do not have to go through these potentially daunting steps alone. When we represent you, we work with your creditors to negotiate lower repayment amounts with feasible payment plans and faster payoffs.
The Potential Drawback for Chapter 13 Filers
With all its advantages, Chapter 13 has potential drawbacks that you must consider. Our lawyers take time to ensure you are aware of these important factors:
- It takes longer to discharge your debts than other bankruptcy chapters (typically three to five years)
- You must have a regular source of income
- You must make all required payments in full and on time
Our Melbourne Chapter 13 bankruptcy lawyers will ensure you understand its pros and cons and inform you of other options for managing your debt. Then, we’ll help you make the best choice for your situation. Get started today with a free consultation with a Bogin, Munns & Munns team member.
How Filing for Bankruptcy Under Chapter 13 Work for Melbourne Residents
Filing for bankruptcy can be a complex process. However, working with Bogin, Munns & Munns can significantly simplify the process. We’ll work with you over the phone or virtually and work to have your court case handled virtually as well.
Here are other tasks we’ll handle when you seek bankruptcy protection with a Chapter 13 filing:
- Compiling and organizing documents
- Assessing your secured and unsecured debt
- Documenting your real property
- Describing your income and creating a budget
- Enrolling you in a mandatory credit counseling course
- Completing all required bankruptcy forms
- Filing your bankruptcy petition
- Submitting required documentation to the trustee
- Attending the mandatory meeting of your creditors
Start—and keep—making your agreed-upon payments, complete the second (still mandatory) credit counseling course, and receive your final discharge. Due to its many steps and potential complexities, the U.S. Courts strongly recommend hiring a lawyer familiar with navigating the process. Our bankruptcy attorneys will advocate for you and provide the tools you need for an accurate and effective filing.
We Will Help You Amass the Documentation Required of Chapter 13 Filers
The bankruptcy process requires you to compile an amazing array of detailed paperwork. The sheer volume can be intimidating and includes the following required bankruptcy schedules:
- Assets and liabilities
- Income and expenses
- Contracts and leases
Additional paperwork we help you compile might include tax returns, a credit counseling certificate, and a monthly net income statement. Your paperwork must also include a financial statement and a reasonable payment plan. Our bankruptcy questionnaire can also help you understand your available options.
Melbourne Chapter 13 Bankruptcy Lawyer Near Me
(855) 780-9986
Get Help Filing for Chapter 13 Bankruptcy in Melbourne
Overwhelming debt does not have to ruin your life or business. If you are an individual, self-employed, or sole proprietor, Chapter 13 bankruptcy could help you manage and repay your debt over time.
Learn more about your reorganization options with help from our Melbourne Chapter 13 bankruptcy lawyers. Contact our consultation team at Bogin, Munns & Munns today for more information.
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