9990 S.W. 77th Avenue
Penthouse 2
Miami, FL 33156
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Chapter 13 Bankruptcy

"Bankruptcy represents a longstanding commitment in this country to helping people get a fresh start. This principle has never been giving only certain people a fresh start." - Tim Johnson

Chapter 13 Bankruptcy Attorney in Miami

Chapter 13 is sometimes referred to as an individual debt adjustment or restructuring. Prior to the enactment of the October 2005 Bankruptcy Code amendments, Chapter 13 was generally used for individuals who needed time to cure a default of their home mortgage payments.

Under the amended Bankruptcy Code, many individuals who may have previously qualified for a Chapter 7 bankruptcy are now obligated to file under Chapter 13.

How Does Chapter 13 Work?

1) In order to qualify for filing a Chapter 13, you must have a regular income. Chapter 13 is designed to provide creditors with a partial or full repayment of debts. Depending on various factors, Chapter 13 debtors will propose a plan to pay creditors over 36-60 months.

2) Chapter 13 debtors are required to contribute 100% of their disposable monthly income (take-home pay less reasonable monthly expenses) to the plan. The plan may provide for the curing of arrearages on the debtors’ home mortgage over the life of the plan and may modify other secured obligations.

3) Chapter 13 debtors may keep all of their assets so long as the payments under the plan pay creditors at least as much as they would have otherwise received if the debtor filed a Chapter 7 bankruptcy.

Call Our Experienced Chapter 13 Bankruptcy Attorney Today!

Schatzman & Schatzman, P.A. is a respected bankruptcy law firm located in Miami, Florida. We have successfully helped many South Florida businesses and consumers obtain debt relief to strengthen their financial futures. With over 31 years of bankruptcy and litigation experience, we maintain a high standard of quality service provided to our clients.

You can trust that your case will be managed diligently by an experienced bankruptcy attorney with the expertise and knowledge to find the best solution for your specific needs.

Call 305-670-6000 for a Consultation With an Experienced Miami Attorney Today!

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9990 S.W. 77th Avenue
Penthouse 2
Miami, FL 33156

Phone: 305-670-6000

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