Chapter 13 Bankruptcy

A Path to Debt Relief and Financial Stability

Chapter 13 bankruptcy is a court-supervised payment plan designed to help individuals with a steady income reorganize their debt and pay back creditors over time. Unlike Chapter 7, which focuses on liquidation, Chapter 13 allows debtors to retain their assets while paying off their debts in manageable installments based on their income and budget.

At BCN Law Firm, our experienced bankruptcy attorneys will guide you through the Chapter 13 process, helping you understand your options and develop a plan to regain control of your financial future.

Central Florida Chapter 13 Bankruptcy Attorneys

If you are considering filing for Chapter 13 bankruptcy, our experienced attorneys at BCN Law Firm are here to help. We offer a free consultation to review your financial situation and determine if Chapter 13 is the right option for you. Whether you want to reorganize your debt or protect your assets, we’ll guide you through the repayment process and help you regain financial stability.

352-394-2103

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What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is commonly referred to as a “wage earner’s plan” because it enables individuals with regular income to develop a plan to repay all or part of their debts. Under this plan, debtors make monthly payments to a trustee, who then distributes the funds to creditors according to the terms of the plan. The payment plan typically lasts between 36 and 60 months, depending on the debtor’s income and the amount of debt.

Key Benefits of Chapter 13:

Retain Your Property: Unlike Chapter 7, Chapter 13 allows you to keep your home, car, and other assets while you catch up on missed payments.
Debt Restructuring: Chapter 13 consolidates your debts into a single monthly payment, which can make it easier to manage your finances.
Automatic Stay: Once you file for Chapter 13, an automatic stay goes into effect, halting collection efforts, lawsuits, and foreclosures.

Chapter 13 Bankruptcy Plan Payments

One of the critical components of Chapter 13 bankruptcy is the repayment plan. The plan details how you will repay your unsecured and secured creditors based on your disposable income and the value of your non-exempt assets. Your plan must meet certain criteria, including:

Payments Begin Promptly: Your first plan payment is due within 30 days of filing your case, even if you haven’t attended your meeting of creditors.
Plan Duration: The length of the plan is determined by your income and can last either 36 months or 60 months, but no plan can extend beyond 60 months.
Unsecured Creditors: You must pay unsecured creditors at least as much as they would receive if your non-exempt assets were liquidated in a Chapter 7 bankruptcy.

Failure to make timely payments can result in the dismissal of your case, so it’s crucial to follow your repayment plan carefully.

How Chapter 13 Works

Filing the Petition and Plan:
You will file a Chapter 13 bankruptcy petition along with a repayment plan outlining how your debts will be managed. The plan will detail the treatment of secured and unsecured debts, including any liens.
Court Approval:
The court must approve your repayment plan after ensuring it meets legal requirements. Creditors may object to the plan, but our attorneys will represent your interests to ensure a fair resolution.
Trustee Management:
A trustee is appointed to collect your monthly payments and distribute them to creditors according to the terms of the plan. The trustee oversees the process to ensure compliance.
Completion of Plan:
Once you’ve completed the payment plan (either 36 or 60 months), any remaining qualifying unsecured debt is discharged, and you emerge from bankruptcy with a fresh financial start.

How BCN Law Firm Can Help

Personalized Guidance

We help you determine if Chapter 7 is the right option for your situation.

File Your Case

Our team will handle all necessary paperwork, filings, and court appearances.

Negotiate with Creditors

We negotiate on your behalf to ensure your repayment plan is fair and manageable.

Ensure Compliance

We will help you stay on track with payments and provide support throughout the duration of your plan.

Frequently Asked Questions About Chapter 7 Bankruptcy

Filing the Petition and Plan:
You will file a Chapter 13 bankruptcy petition along with a repayment plan outlining how your debts will be managed. The plan will detail the treatment of secured and unsecured debts, including any liens.
Court Approval:
The court must approve your repayment plan after ensuring it meets legal requirements. Creditors may object to the plan, but our attorneys will represent your interests to ensure a fair resolution.
Trustee Management:
A trustee is appointed to collect your monthly payments and distribute them to creditors according to the terms of the plan. The trustee oversees the process to ensure compliance.
Completion of Plan:
Once you’ve completed the payment plan (either 36 or 60 months), any remaining qualifying unsecured debt is discharged, and you emerge from bankruptcy with a fresh financial start.

A Chapter 13 repayment plan typically lasts between 36 to 60 months (3 to 5 years), depending on your income and the amount of debt you owe. The length of the plan is determined by your household income and other factors.

Chapter 13 bankruptcy allows you to reorganize secured debts (like mortgages and car loans), unsecured debts (such as credit cards and medical bills), and priority debts (like tax obligations and child support). Certain debts, such as student loans, generally cannot be discharged.

Speak To An Attorney

If you’re considering filing for Chapter 13 bankruptcy, let BCN Law Firm help you make an informed decision. Contact us today for a free consultation, and we’ll review your financial situation and guide you through the process to find the best solution for your needs.

352-394-2103

Meet Our Dedicated Attorneys

Legal Team Ready to Fight for Your Rights

Wade Boyette, J.D., LLM.

Partner

Bankruptcy, Estate Planning, Foreclosure Defense, Probate

Wade Boyette, J.D., LLM, was born in Estill, South Carolina, in 1967 and has been a prominent figure in Lake County since 1994.

Heath B. Nailos, J.D.

Partner

Auto Accidents, Personal Injury

Heath B. Nailos, J.D. was born in 1969 in Atlanta, Georgia, and has resided in Florida since 1978. He received his B.A. in History from the University of South Florida in 1992 and his J.D. Degree from Stetson University College of Law in 1995.

Kristin Cummins Nailos, J.D.

O.F. Counsel

Real Estate

Mrs. Nailos has practiced law in Central Florida since 1996, and is a member of The Florida Bar, and the Lake County Bar Association and is admitted to practice in the Middle District of Florida and all State Courts in Florida.

Ken Costello, J.D.

Partner

Bankruptcy, Estate Planning, Foreclosure Defense, Probate

Ken Costello is an associate at Boyette, Cummins & Nailos, PLLC. His practice focuses on real estate, civil litigation, bankruptcy, debt defense, estate planning and probate.

Michelle C. Bottex, J.D.

Attorney

Criminal Law, Family Law

Ms. Bottex earned a Bachelor of Arts degree in Business Administration from Stetson University and Master of Arts degree in Human Resources Development from Webster University.

Norman C. Cummins, J.D.

Legacy Partner

Was born in 1938 in Louisville, Kentucky. He received his Bachelor of Science in Business Administration from the University of Alabama in 1963 and a J.D. Degree from the University of Alabama in 1967.

Travis J. Stulz, Esq.

Attorney

Business Law, Estate Planning, Probate, Real Estate

Travis J. Stulz is a seasoned Florida personal-injury attorney representing clients across Central Florida, including Orlando, Winter Garden, Clermont, Ocoee, and The Villages.

Meet All Attorneys

5-Star Reviews from Satisfied Clients

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BCN Law Firm4.6

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Steven Halford

4 days ago

Excellent Service. Excellent staff and personell. Very detailed and patient throughout the whole process. It took a while to get where we wanted to be, but it was well worth the wait. They fought for every penny, for my treatment after my car accident, and were very caring during every step of the way. I highly recommend and they now have a customer whenever I need a lawyer.

Tom Robertson

2 weeks ago

Courteous and helpful staff. Completed in a timely fashion. Excellent rapport with Wade Boyette. Highly recommended

Cyndi Robertson

2 weeks ago

The entire staff was very considerate and helpful while assisting us with our estate planning. Highly recommend BCN if you need a Will, Durable Power of attorney, etc!

Peter Adams

3 weeks ago

My wife and I appreciated Mr. Boyette’s professionalism in regard to our legal needs. We strongly recommend him and will seek his expertise for any other legal needs.

Kevin S Hodne

4 weeks ago

I hired BCN law firm to handle my bankruptcy. Having always prided myself in handling my finances responsibly, when I had some health issues which I could not recover from financially I decided to plead bankruptcy. BCN law firm ( Carol ) made the whole process seamless. Carol was understanding, professional, and put my mind at ease during this difficult time. It’s people like Carol who have compassion for people that makes all the difference when hiring an attorney. Thank you Carol and BCN Law firm. If I could leave 10 stars I would have. Thanks again Carol and Wade Boyette!

susan ohneiser

1 month ago

Very professional, personable and informative! No issues and everything went well. We are very pleased.

Tatiana Rollins

2 months ago

Wade Was very helpful and informative on helping us with our trust and will. He explained everything thoroughly so we have peace of mind that our estate will be well taken care of.

David Kelly

3 months ago

If you want an attorney who will actually meet with you face to face, BCN does that. If you want to be kept informed and in the loop throughout your case, BCN does that too. If you want to regret your choice of attorney, go with one of the other guys — because you won’t find that at BCN. BCN treats you like family while maintaining the professionalism and attention you deserve. Heath Lynette and the team are top-notch, knowledgeable, and always willing to listen and guide you in the right direction. From the welcoming facilities to the personal attention they give every client, BCN stands above the rest. If you need legal help, do yourself a favor and check them out.

Anthony Monteleone

3 months ago

Travis Stulz and his team were amazing to work with. His responsiveness and level of knowledge far exceeded my expectations. I was very happy with the resolution of my case and would reach out to his firm for any future needs. Thanks Travis!

Jessica Siefert

3 months ago

Travis and Sandy (Paralegal) were extremely helpful in my car accident case. I never worried about a thing and they worked very hard to advocate for me with my insurance company. Highly recommend for total peace of mind.

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