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Filing Chapter 13 Bankruptcy


When deciding to file for bankruptcy, a chapter 13 bankruptcy may not be your first choice. However, there are a lot of benefits to filing for Chapter 13 bankruptcy. For one, a chapter 13 bankruptcy can help you eliminate the second mortgage if you are behind on payments and if you owe more on your first mortgage than you do on your second.

When filing for Chapter 13 bankruptcy, you may be able to modify your first mortgage as well through the approved loss mitigation program available to those who file for bankruptcy in the Southern District of Florida. A chapter 13 bankruptcy helps you restructure your debt and enter into a payment plan with your creditors for 3-5 years. After the payments are completed, any remaining debt is discharged.

Through a chapter 13 bankruptcy, you can catch up on payments for your house, home owner’s association and even pay off your IRS debt without all of the interest associated with a direct payment plan with the IRS. You can also lower the interest payments for your vehicle loan. In order to see if a chapter 13 bankruptcy is right for you, I recommend that you meet with a Miami bankruptcy attorney, such as myself.

At the Law Offices of Alberto H. Hernandez, we specialize in consumer bankruptcy filings, particularly chapter 7 bankruptcy and chapter 13 bankruptcy. At a free bankruptcy consultation, I will review your case personally with you and help you make an informed decision on filing for bankruptcy.

2018-09-27T18:59:26+00:00 September 27th, 2018|Categories: Bankruptcy|Comments Off on Filing Chapter 13 Bankruptcy