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Board Certified Bankruptcy Attorney

Largo Chapter 13 Bankruptcy Lawyer

At the office of Daniel J. Herman ESQ., I confidently handle a range of bankruptcy issues for my clients, including Chapter 13 bankruptcy. As a board-certified bankruptcy attorney, I am able to thoroughly review my clients' situations and determine the best way in which to seek a potential resolution to their financial difficulties. Contact my office today to schedule an appointment to discuss your bankruptcy options with me.

What Is Chapter 13?

Chapter 13 bankruptcy is the wage earner's reorganization. Filing for Chapter 13 allows you to restructure your debts, but continue paying them off over time, according to a court-approved plan. Of the reorganization bankruptcy chapters, Chapter 13 is by far the most common and the least invasive in your personal and financial life. It is also generally streamlined and the least expensive reorganization.

In Chapter 13, the issue of exempt property/non-exempt property is still germane, but generally in a 13, the debtors keep all of their property that they wish to keep. Even non-exempt property may be retained, which is redeemed through the payments made through the Chapter 13 plan.

How Long Does a Chapter 13 Last?

The usual plan is 60 months, though certain low-income debtors can have a plan as short as 36 months. When the case is filed with the bankruptcy court, generally interest and penalties are stopped. Indebtedness is determined by how much was owed on that debt. If IRS debts are dischargeable (see Chapter 7 ), they are treated in the same manner as credit card or other unsecured debt and need not necessarily be paid in full.

Of the tax debts that may not be dischargeable, the payment plan is automatic through bankruptcy in most cases, paying that tax indebtedness through 60 equal payments through the bankruptcy court without penalties or interest from the day the bankruptcy case commenced.

The hardest part of any bankruptcy case is the preparation of paperwork with the attorney prior to filing the case. In the vast majority of Chapter 13 cases in this district, the debtors will attend a creditor's meeting with their attorney approximately 30 to 40 days after the case is started and make one monthly payment to the Chapter 13 trustee for each month of the plan, usually 60 months. Otherwise, it is rare for debtors to attend any other hearings, in this district, and employers or neighbors are not notified, and bankruptcy law does not require any public notice or notification.

Some other aspects of Chapter 13 that should be noted are below:

  • Debtors who are not eligible for Chapter 7 based on the Means Test, or the totality of the circumstances test, generally qualify for Chapter 13 and do receive a discharge of whatever unsecured debts exist when the case is filed. It is not necessary in most cases that those debts be paid in full. However, the Means Test will determine what the debtors can afford to pay, and that is all they are required to pay.
  • In Chapter 13, it is possible for some of the attorney's fees to be paid through the plan over time. However, an initial retainer is generally required.
  • Domestic support debts are not dischargeable, but marital debts (created or confirmed by divorce decree or marital divorce settlement) can be discharged.
  • While Chapter 7 bankruptcy is available to individuals and businesses, Chapter 13 is only available for individuals. No businesses may file for Chapter 13 protection.

If you wish to further discuss your options for filing for Chapter 13 bankruptcy and asset protection through bankruptcy, contact me, an experienced Florida bankruptcy lawyer, today.

Daniel J. Herman ESQ.
200 Clearwater-Largo Road South
Largo, FL 33770-1330
Phone: 727-584-8161
Fax: 727-586-5813

Daniel J. Herman ESQ, in Largo, Florida, represents clients in Tampa Bay and throughout Hernando County, Hillsborough County, Pasco County, and Pinellas County, including the cities of Belleair, Brooksville, Clearwater, Dade City, Dunedin, New Port Richey, Largo, Palm Harbor, Pinellas Park, Port Richey, St. Petersburg, Seminole, Tampa, and Tarpon Springs, Florida.

Bankruptcy Disclaimer: The services or benefits provided are with respect to bankruptcy relief under Title 11 of the U.S. Bankruptcy Code. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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200 Clearwater-Largo
Road South
Largo, FL 33770-1330
Phone: 727-584-8161
Fax: 727-586-5813
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