Are you deep in debt? Gain back control of your future by hiring a Florida bankruptcy lawyer!
Predicting emergencies is impossible, leaving you sometimes with no choice but to borrow money. Eventually, creditors will need their money back and will do whatever it takes to get it. With little to no assets and an income barely enough for essentials, filing Chapter 13 bankruptcy and knowing about the Chapter 13 confirmation hearing in Brandon FL may be your only option.
Chapter 13 bankruptcy cases provide you with a way to legally clear your debt. Bankruptcy filing is the government’s way of giving you a second chance minus creditor harassment. Though it may take years for you to get a discharge, Chapter 13 bankruptcy is the key to paying off your debts gradually.
Best Brandon, FL Bankruptcy Attorney
If you’re ready to file for bankruptcy, you must first understand its important terms. One of the most important hearings to attend is the chapter 13 confirmation hearing in Brandfon, FL. This can be a complex maze to navigate, so working with an experienced Florida bankruptcy attorney should help you be more prepared for what comes next.
The bankruptcy attorneys at Golden Law Group are skilled in providing bankruptcy law solutions that’ll give your case the best possible outcome. To begin clearing your debts and regain your financial freedom, receive a free consultation by reaching out to our law firm today!
Why do I need a Florida Bankruptcy Attorney?
The biggest advantage of working alongside a bankruptcy lawyer is having someone help you prepare for the Chapter 13 plan and confirmation hearing in Brandon FL. We at Golden Law Group are dedicated to seeing through every case and guiding your every move. Part of our duty is making sure every client is entitled to the following:
- Personalized debt relief services
- Client-specific legal advice for different situations
- Proactive problem-solving strategies that can help remedy your debt
- Committed and attentive legal counsel from start to finish
Bankruptcy can be a tough arena to navigate and it isn’t recommended that you go through the process alone. Thankfully, a bankruptcy attorney from Golden Law Group is ready to help you with your woes, be it creditor harassment, student loans, or garnishment defense.
For additional information on Chapter 13 bankruptcy and what you need to do during the Chapter 13 plan and confirmation hearing Brandon FL, give our law office a call right away!
What is Chapter 13 bankruptcy?
Chapter 13 bankruptcy is a type of bankruptcy that allows individuals with regular income to repay their debt through a three or five-year repayment plan. Unlike Chapter 7 bankruptcy, Chapter 13 doesn’t involve asset liquidation and thus allows debtors to keep their property while they periodically repay their debts under a plan approved by the bankruptcy court.
Also known as the wage earner’s bankruptcy, Chapter 13 bankruptcy is normally used by individuals who have large amounts of debt but can repay them over time while still able to meet pre-existing obligations.
Besides getting the opportunity to keep all your assets, a significant advantage of a Chapter 13 bankruptcy petition is you no longer will be directly in contact with all your creditors while under bankruptcy protection. The only time you get to see them would be during the Chapter 13 plan and confirmation hearing in Brandon FL. Nevertheless, you’re still required to pay your creditors within the period indicated on your bankruptcy court-approved repayment plan.
What are the Categories of Debt?
Debts can either be secured or unsecured. Know the difference between the two below.
- Secured debt – These include debts backed by collateral (often an item purchased with the loan) such as cars, boats, and planes. Collateral can also come in the form of expensive items like jewelry and paintings. If you choose to keep the collateral, the amount you need to repay has to be equal to its value as determined by the bankruptcy court.
- Unsecured debt – Unlike secured debts, these debts are not backed by collateral and involve credit card debt in most cases. Personal loans, hospital bills, and gambling debt are also examples of unsecured debts The amount creditors should receive will be based on the amount they are to get under a Chapter 7 bankruptcy case. The total amount of unsecured credit card debt repaid throughout your case depends on how much disposable income you have during the three or five-year repayment period (to be determined during the Chapter 13 plan and confirmation hearing Brandon FL).
Speak with a seasoned Brandon, FL bankruptcy attorney to determine if most of your debts are secured or unsecured.
What is a Chapter 13 plan and confirmation hearing?
A Chapter 13 plan confirmation hearing in Brandon FL is a proceeding where a bankruptcy judge reviews then either approves or disapproves of your proposed repayment plan to clear your debts. To put it simply, you must prove that your income is enough to pay everything during a Chapter 13 case.
Per the bankruptcy code, you need to fully disclose the following within 14 days of initial filing:
- Your monthly income
- Your assets
- Any existing debts
The judge will then look at your proposed plan and inform your creditors about it. After that, the Chapter 13 plan confirmation hearing in Brandon FL will be scheduled within the next 45 days.
What happens during the Chapter 13 confirmation hearing?
During the Chapter 13 confirmation hearing Brandon FL, you or your legal representation must be present along with the bankruptcy trustee, your creditors, and the judge assigned to your case.
In this process, the creditors will be allowed to review your repayment plan and make objections when they feel it won’t repay everything owed to them. You will then be allowed to respond to your creditors regarding any of their objections to your plan. The Chapter 13 trustee will also go through your petition to make sure that all requirements are met.
Ultimately, it will be the judge who will determine whether or not the proposed plan is viable and meets all legal requirements. You may need to modify or tweak your repayment plan if the bankruptcy judge finds any issues with it.
Call our Brandon, FL bankruptcy attorney now!
Choosing to file bankruptcy is no piece of cake; it takes so much courage and foresight to actually submit the needed paperwork and go through the proceedings.
Being with a skilled bankruptcy attorney should make everything a lot less daunting. Although hiring a lawyer won’t exempt you from all your obligations, it should provide you with a sense of comfort in knowing that someone on your side has helped many individuals like you.
We at Golden Law Group have intimate knowledge of Florida bankruptcy law and give you a heads-up on what to expect during the Chapter 13 confirmation hearing Brandon FL. Our law office also offers excellent legal services on student loans, garnishment defense, and other debt solutions.
Once you’ve made a decision, call us immediately and get a free initial consultation!