Chapter 13 Consumer Bankruptcy Lawyers

Serving Tampa, Brandon, Riverview, Hillsborough County, Florida

Chapter 13 personal bankruptcy protection offers legal and financial advantages to people in need of debt relief, who cannot qualify for a Chapter 7 bankruptcy or who have other reasons for pursuing it, such as their home is in foreclosure and they want to keep it. Chapter 13 terminates foreclosure at any point up through the time of the actual foreclosure sale. It allows individuals and families facing serious cash flow issues to reorganize debt under the supervision of a bankruptcy trustee. Most property is retained and in three to five years, the debtor emerges from bankruptcy with significantly reduced debt. It may even be possible to remove a second mortgage on either homestead or investment property in a Chapter 13, which is a great benefit. Most debt can be eliminated in chapter Chapter 13 bankruptcy; however, some debt, including taxes, spousal support payments, child support payments and student loans, cannot be eliminated.

Are you interested in investigating your Chapter 13 bankruptcy options and wish to retain your property? Call or e-mail the experienced bankruptcy lawyers of the law office of Lynette Silon-Laguna, P.A. Call 813.672.1900 to discuss Chapter 13 bankruptcy at a no-charge initial consultation. Members of our attorney and legal assistant team have experience managing Chapter 13 bankruptcy proceedings. We will work with you to reduce your debt while protecting all or most of your assets, ranging from homes, cars, and retirement accounts to jewelry, boats and family businesses.

Eliminate Debt. Retain Property.

Chapter 13 bankruptcy reorganizes your debt payments under a repayment plan and you will pay a monthly amount to the trustee. All of the creditors whose secured property you retain will be paid their monthly payment in full. These include debts on your home, investment properties and vehicles. Also, if you have an arrearage due on a secured loan, the arrearage will be paid pro-rated over the life of the plan. Furthermore, child support arrearages and back taxes are priority debts and must be paid in full during the life of your plan. All or a percentage of your unsecured debts, such as credit card, medical bills,, or homeowner association fees (prior to bankruptcy filing) will be paid; however, the percentage the unsecured creditors will be paid depends on how much disposable income you have each month after living expenses are deducted from your income.

When you have completed either the three or five year bankruptcy plan, the remaining unsecured debt is discharged. Furthermore, after the plan has been completed and the bankruptcy has been discharged, you have to continue making your mortgage payments and vehicle payments, if any amount remains on the loan. In addition, student loan payments, if any, will continue to be paid at their original monthly amount as they are not dischargeable in bankruptcy.

Because payments must be made monthly to the trustee to pay your secured, priority and some or all unsecured debts, the court requires that you have "disposable" income with which to make the payments, so it will be necessary for you to have steady monthly income which is sufficient to cover your living expenses and your monthly payment to the trustee (which amount also depends on your disposable income).

Contact Us

If you have questions regarding divorce, family law or bankruptcy, as well as foreclosure solutions, contact the law firm of Lynette Silon-Laguna, P.A. We provide a free initial consultation, accept MasterCard, Visa, Discover and American Express, and charge reasonable and competitive rates. Furthermore, to assist you we have a team of legal assistants and associate attorneys, including a Spanish-speaking associate attorney.

Our office is conveniently located in the Riverview/Brandon area on Highway 301 South directly off of Interstate 75, near the intersection of Bloomingdale Avenue. Contact our firm by e-mail or call 813.672.1900. We will respond immediately!

We serve all of Hillsborough County, including Tampa, Riverview, Brandon, Gibsonton, Apollo Beach, Valrico, Thonotosassa, Sun City Center, Mango, Plant City, Ruskin, and Wimauma, Florida.