St. Petersburg Lawyer Helping Clients With Debt Consolidation
Chapter 13 bankruptcy may be appropriate for people with higher incomes or non-exempt assets that they want to retain. Before you make any decisions about your financial future, you should first consult with an experienced bankruptcy attorney who can educate and advise you of what debt relief option will best fit your situation.
At the law office of William D. Slicker, P.A., attorney Slicker brings over 30 years of legal experience to the table when helping people decide whether filing Chapter 13 bankruptcy is appropriate for their situation. He believes in treating clients with respect and in forging close, personal relationships that foster trust and understanding.
If you are struggling with mounting debts and want to learn if Chapter 13 bankruptcy is the right choice for you, you can set an appointment here or call us at 727-322-2795.
Chapter 13 Bankruptcy Income Calculations
Chapter 13 bankruptcy is for people whose income exceeds the limits allowed for filing a Chapter 7 bankruptcy. A means test is used to make this determination. This alternative form of personal bankruptcy still requires you to complete the two credit counseling courses, one before you file and one to be finished shortly after filing the petition. Attorney Slicker can help you assess whether you qualify for Chapter 7 or Chapter 13, and which type would best fit your personal circumstances.
The Benefits of Chapter 13 Bankruptcy
Unlike Chapter 7 bankruptcy, under Chapter 13 bankruptcy all of your unsecured debts will not be discharged. Instead, a debt repayment plan to your creditors through a court trustee will be set up so that the debtor repays a portion of his or her unsecured debts. Attorney Slicker will help you calculate the amount required to be repaid. Under a Chapter 13 plan, the debtor will usually have three to five years to pay off the percentage of debt that will be paid to the creditors.
To set up a free initial consultation, you can use our online form here or call us at 727-322-2795.