JT Simons
Community Involvement

(727) 372-4722 

Chapter 13 Bankruptcy

Understanding Chapter 13 Bankruptcy

Chapter 13 of the bankruptcy code gives debtors the opportunity to repay some or all of the debts that are in their name, often in better terms. Debtors have the ability to use income they have in the future to pay off creditors.

How Chapter 13 Bankruptcy Works

A time frame of 3 to 5 years is usually allotted for debtors to be able to pay off many of their creditors in full. Your attorney will safeguard your interests, while the entire process is carried out under court supervision. A Chapter 13 plan is approved by the court, which allows debtors to repay their creditors and still retain their property.

Making Sure Chapter 13 Is The Right Choice

To qualify for Chapter 13 you must have a regular source of income. You will need to prepare a budget, fill out forms and pleadings, and appear for meetings with creditors and court hearings and most importantly make your regular plan payments. After all of your payments have been made in full you will be eligible to receive a discharge from most debts and the plan will be terminated. As in a Chapter 7 bankruptcy, certain types of debts are non-dischargeable. To know if Chapter 13 bankruptcy is the right choice for your financial interests, you will first need to fill out an evaluation form as with all chapters of bankruptcy. Your attorney will review your form and be able to guide you towards Chapter 13 or the solution that best fits your financial situation. At your free initial consultation, an attorney from Simons & Catey, P.A. can discuss your various debt relief options and help you to determine whether a Chapter 13 bankruptcy is the right option for you.

J.T. Simons Law Firm
Website Request
  • - -

We offer attorney and lawyer services in West Pasco County FL in the following towns:
, Holiday, Hudson, Land O Lakes, New Port Richey, Odessa, Port Richey, Trinity

Copyright © 2012 J.T. Simons, PA
8040 Old County Road 54 - New Port Richey, FL 34653
(727) 372-4722