Is Bankruptcy Right for You?

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After months of talking to bankruptcy attorneys and looking for one that was honest and trustworthy, I was fortunate enough to find Sun Coast Law. They were completely honest from day one, and was so thorough in walking me through the process. The staff is incredibly easy to work with, and they are so detailed to make sure you have everything complete, correct, and ready to go. I can honestly say that what seemed to be the hardest choice of my life turned out to be the easiest, worry free process. I truly am grateful to have had such a great team working for me.

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Chapter 13 Bankruptcy

If you’re struggling with the sudden loss of income due to unemployment, disability, death of a spouse or divorce, we know how difficult it can be to continue to stay current on monthly payments. In many cases by the time you recover income, late payment fees and high interest rates make it very difficult to bring accounts up-to-date. SunCoast Law are experienced legal professionals in all facets of bankruptcy law and can help you explore every option for debt relief including Chapter 13 bankruptcy. Our attorneys have worked together since 1999 and have helped many clients just like you, restore financial balance to their lives once again. We’ll walk with you every step of the way to ensure you get the best possible advice and representation during this difficult time. Contact a SunCoast Law representative to see if Chapter 13 bankruptcy is right for you and your financial situation (844) 330-2727.

Why Choose To File Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is not for everyone, but there are a number of reasons it might be for you.

Under the median income and means test requirement for Chapter 7 bankruptcy, you may not qualify.

Filing Chapter 7 bankruptcy may require you to forfeit certain assets you might otherwise retain under a Chapter 13 filing.
You can participate in the court ordered loan modification mediation program with your mortgage lender.

Chapter 13 gives you the opportunity to bring mortgage payments current, thus avoiding a home foreclosure situation.

Tax debts can be addressed in the Chapter 13 and allow you more time to repay the IRS.

Explore The Debt Repayment Plan Right For You

Under a Chapter 13 bankruptcy you are essentially consolidating debt so that you can more easily manage payments to creditors. Some of the provisions included in a Chapter 13 bankruptcy include:

A plan to repay a percentage of unsecured debt such as medical bills, credit card debt, and judgments against you within a specified amount of time
The discharge of some unsecured debt once the repayment terms have been met
Your attorney will work with you to determine how much money you can afford to pay creditors and you will make one combined payment to the bankruptcy trustee. They in turn, will distribute monies accordingly to each of your creditors.

How You Benefit from a Chapter 13 Bankruptcy

As in the case of Chapter 7 bankruptcy, filing Chapter 13 bankruptcy will halt certain actions taken by creditors. These include:

  • Foreclosure of your home due to delinquent mortgage payments
  • Garnishment of wages
  • Repossession of personal property including autos or equipment
  • Harassment from creditors attempting to collect unpaid debt, and collection agencies
  • Chapter 13 Bankruptcy Attorney

    Declaring bankruptcy is a major decision. You don’t have to make it alone. Protect yourself and your assets by talking to our experienced chapter 13 bankruptcy lawyers today. Call us at (844) 330-2727 or contact SunCoast Law online to set up your free, no obligation consultation. We offer affordable, flat fees and are ready to help you regain control of your finances once and for all.


    What happens when you file for Chapter 13 bankruptcy?
    This is really best for those that are experiencing a temporary gap in income, perhaps due to job loss, a divorce, an injury or illness and is having trouble making ends meet. A Chapter 13 is also beneficial for those that simply have accumulated more debt than they can reasonably pay back, yet they still make too much to qualify for a Chapter 7.

    What is the difference between Chapter 13 and Chapter 7?
    In a Chapter 7, all of your debts are discharged and you do not have to pay any of them back. In a Chapter 13, you have to pay back some of your debts and the remainder is discharged. A Chapter 13 is not as generous in that respect.

    Can the IRS take my tax refund if I filed Chapter 13?
    No, but the Chapter 13 Trustee assigned to my case can take any tax refund.

    What is the average monthly payment for Chapter 13?
    There is no average payment. Monthly payments are based entirely your household income minus “allowable” living expenses. These variables are always different for each person that files.

    Does Chapter 13 ruin your credit?
    It does negatively effect your credit while you are in the Chapter 13. However, after the bankruptcy is over you can have good credit again within 6 months assuming you use our credit restoration program.

    What is the income limit for Chapter 13?
    There is no income limit for a Chapter 13.

    Can you keep your car if you file Chapter 13?
    In most instances, yes. Chapter 13 is not a liquidation like a Chapter 7, so by and large you will get to keep your assets. However, there are more technical factors that need to be considered and cannot be described in detail here.

    How long does it take to rebuild credit after Chapter 13?
    Your credit score will just naturally go higher as time goes on after the bankruptcy is over, but that may take 18-24 months. There are things that can be affirmatively done by you to boost your score back to “good” again within 6 months. We offer a credit restoration program that does this.

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