Homestead Bankruptcy Lawyers Give Advice About Debt Reorganization
At The Bankruptcy Law Offices of James Schwitalla, P.A. our Homestead bankruptcy lawyers have helped many people take back control from their creditors by filing for bankruptcy. The first step in the right direction is to contact a bankruptcy attorney to understand your options and which is best for you.
In many cases, people feel they shouldn’t be filing for bankruptcy if they can still pay a portion of their debts. They wrongly believe that they need to be completely bankrupt (in other words, unable to afford any of their current assets) in order to qualify for debt relief. Out of fear of losing their assets, they procrastinate when it comes to asking a Homestead bankruptcy attorney to help them manage their debts.
If you are able to cover your living expenses, but you feel that the repayments on your properties, cars, credit cards or other debt are suddenly becoming harder and harder to meet, Chapter 13 bankruptcy could be the solution for you.
How we can help you reorganize your debt
Chapter 13 bankruptcy is often referred to as “debt reorganization”. Like Chapter 7 bankruptcy, it can completely erase unsecured debt, like credit card debt or medical bills. However, a Chapter 13 bankruptcy requires you to repay a portion of your debts through a debt repayment plan.
The main benefit of this is that you will be able to keep your assets and continue repaying your debt, but do it according to a better repayment plan that can comfortably fit into your current lifestyle and financial obligations.
Let our Homestead bankruptcy lawyers help you find a solution today.