It always help to have a plan. Plans are are a good idea for relationships, business, and life in general. When filing Chapter 13 bankruptcy, a plan is not only a good idea, it’s required by law.
Clients look to me as their Orlando bankruptcy lawyer to formulate a Chapter 13 plan that meets all of their financial goals. The Chapter 13 plan, which lasts from 3 to 5 years, is used to cure arrearages on a mortgage, completely eliminate a second mortgage, discharge credit card debt, shave money off a car loan, or pay off IRS debt.
The Debtor, the person filing the Chapter 13 bankruptcy, has to file a payment plan at the outset of the case. The plan’s job is to tell everyone what goals the Debtor wants to achieve during the time the Debtor is in bankruptcy. The plan also instructs creditors how they will be dealt with, and tells the Chapter 13 Trustee who to pay and how much to pay each creditor.
There are many decisions to be made by the Debtor when constructing a Chapter 13 plan. I see many Do it Yourselfer’s in Court who have a really hard time successfully formulating a plan that can be understood by the Trustee or the creditors. This often will result in the creditors objecting to the plan, or the Trustee filing a motion to dismiss the case. When that happens, the person has a bankruptcy on her credit report and absolutely nothing to show for it.
Hiring an experienced Orlando bankruptcy lawyer who has successfully represented clients through the Chapter 13 process in Orlando is a must if you want a smooth ride through the case. In the vast majority of cases I file for my clients, so long as the Trustee payments are being made, my clients never have to appear in Court. More importantly, my clients accomplish the goals they set out to achieve at the beginning of their case.
Plans are the King in Chapter 13 cases. Having a solid plan that eliminates your debt and provides a smooth ride in your Chapter 13 case is the best!
Learn more about Chapter 13 bankruptcy. Stop by K. Hunter Goff’s site where you can find an experienced Orlando bankruptcy lawyer and learn how he can help you.
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- Getting Acquainted With Chapter 13 Bankruptcy
- A Number Of Notes About Chapter 13 Bankruptcy Information
- Chapter 7 Bankruptcy Information
- Can You File Bankruptcy More Than Once? You Sure Can…
- Strict Conditions Must Be Met To Qualify For Chapter 13 Bankruptcy
- Guide To Complete Chapter 7 Bankruptcy Laws
- Chapter 13 Bankruptcy
- Chapter 7 Bankruptcy
- Understanding Chapter 7 Exemptions
Tags: Bankruptcy, bankruptcy lawyer, Chapter 13 bankruptcy, Chapter 13 plan, lawyer, legal, Orlando bankruptcy lawyer