A Chapter 13 Bankruptcy Attorney in Orlando Fl

Filing a chapter 13 bankruptcy in Florida is a viable solution for keeping a home out of foreclosure, lowering car payments, getting control over high monthly debt payments, and generally getting finances in control. Finding an affordable bankruptcy lawyer can help with the process of understanding the what will happen and how it will happen. Contact an experienced chapter 13  Attorney in Orlando should you decide to file a chapter 13 bankrptcy.  A Chapter 13 Bankruptcy Attorney in Orlando can help you find answers.

Chapter 13 Bankruptcy Attorney in Orlando

A chapter 13 bankruptcy is required for individuals and families who have high (higher than the median income in the State of Florida) incomes. It is also available to those at any income level who want to work out a deal with their creditors to keep their property. It can sometimes be referred to as the Wage Earners plan. An experienced bankruptcy attorney knows how to use chapter 13 bankruptcy to restructure and modify certain debts to make them easier to repay. A chapter 13 is not available to companies, only individuals.

Think of a chapter 13 like a consolidation loan where the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under chapter 13 protection.

To be eligible to file for Chapter 13 bankruptcy, an individual must have no more than $394,725 in unsecured debt, such as credit card bills or personal loans. They also can have no more than $1,184,200 in secured debts, which includes mortgages and car loans. These figures adjust periodically to reflect changes in the consumer price index.

An affordable bankruptcy lawyer can be a great help in understanding just how a chapter 13 works for you.

Also, most forms of debt can be discharged in a chapter 13 bankruptcy including credit card debt, judgments, loan accounts, personal guarantees, and even divorce property settlements. A chapter 13 bankruptcy can also be used to get relief from unmanageable student loan debt, and to arrange a payment plan with the IRS, even those most tax debts and student loans are not dischargeable in chapter 13 bankruptcy.

Some of the benefits of a Chapter 13 bankruptcy include:
  • Stopping foreclosure to get current on the mortgage and keep the house;
  • Stripping off mortgage liens and eliminating excessive mortgage debt, even while keeping the property;
  • Peace of mind from obnoxious bill collectors;
  • Cessation of all collection efforts;
  • Modifying terms and balances of car loans;
  • Arranging a payment plan for all creditors;
  • Stopping penalties and interest for repayment of taxes.

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Chapter 13 filing begins in much the same way as Chapter 7 bankruptcy. The debtor files a petition, schedules and a statement of monthly income. However, instead of a Means Test, the person provides a calculation of disposable income and a repayment plan. The plan details what, when and how creditors will be repaid.

Among the information needed to make up the petition, the debtor will need a statement of financial affairs, and schedules and include the following information:

  • A list of all creditors and the amounts and nature of their claims;
  • The source, amount, and frequency of the debtor’s income;
  • A list of all of the debtor’s property; and
  • A detailed list of the debtor’s monthly living expenses, i.e., food, clothing, shelter, utilities, taxes, transportation, medicine, etc.

Married individuals must gather this information for their spouse regardless of whether they are filing a joint petition, separate individual petitions, or even if only one spouse is filing. In a situation where only one spouse files, the income and expenses of the non-filing spouse is required so that the court, the trustee and creditors can evaluate the household’s financial position.

This is followed by a 341 Meeting with creditors. If the plan is accepted by the judge, court-appointed trustees will be in charge of the distribution of payments to creditors as means of ensuring the plan is being honored. Creditors who intend to participate in the repayment distributions should file their claim within 90 days after the 341 meeting. If the court rejects the plan, the debtor may opt to either submit a modified plan or convert the case into a Chapter 7 liquidation.

Creditors are obliged to accept the repayment plan. The total amount the creditors receive under a Chapter 13 filing must at least equal to what they would have received under a Chapter 7 filing. Once the plan is in force, the debtor is not allowed to take on new debt without the trustees’ approval.

There are many more benefits, depending on the debtor’s unique situation and circumstances.  Our experienced chapter 13 Bankruptcy Attorney in Orlando can help you decide.

No matter whether you file Chapter 7, Chapter 11 or Chapter 13 bankruptcy, you are required to take a credit counseling course, which must be completed within six months prior to filing for bankruptcy. This pre-bankruptcy counseling session must be done through an approved organization. It should include an evaluation of your personal financial situation and a discussion of bankruptcy alternatives as well as a personal financial plan. These sessions normally last an hour and can be done in person, over the phone or online. They also should cost less than $50 and for those who cannot afford it, the fee can be waived.

Once this counseling session has been completed, you must get a certificate as proof you took the course.

What are the steps for filing Chapter 13 bankruptcy in Florida? A plan is presented to the court that allows the debt to keep their property while making monthly payments to creditors. The plan must last from three to five years, depending on your level of income. All chapter 13 bankruptcies in Florida are supervised by the Trustee’s office. The plan payments are calculated based on the debtor’s monthly income and expenses. As your  chapter 13 attorney Orlando, my job is to negotiate the lowest monthly plan payment possible.

Contrary to widespread belief, simply having a high income does not mean an individual will be automatically barred from Chapter 7 bankruptcy. The size of their financial obligations matters too. A chapter 7 bankruptcy is a process of liquidating a debtor’s nonexempt assets in order to pay off creditors, while a chapter 13 bankruptcy is a mechanism for debt reorganization and repayment. It involves the development of a 3 to 5-year court-enforced debt repayment plan.


Formulating a Chapter 13 plan can be a complex task, and it requires extensive knowledge of the bankruptcy code. Not all bankruptcy attorneys know and understand how to help their clients with the laws the apply to chapter 13 bankruptcies. If you feel that you are in need of the benefits and solutions that are offered by an affordable bankruptcy lawyer. Contact us today for a free consultation to explore this solution!

Call us for a Free Consultation at 407-781-0420