Well, you’re considering filing a bankruptcy
and you’ve been told you need to file a Chapter Thirteen. What’s a Chapter Thirteen Bankruptcy?
My name is Andy Forman and I’m a Consumer and Business Bankruptcy lawyer in Tampa, Florida,
and I represent individuals in Chapter Thirteen Bankruptcy. Chapter Thirteen Bankruptcy is
a re-organizational bankruptcy for people with regular income. You could be self employed
or you can work for others. Chapter Thirteen provides for a mechanism to repay your creditors
over a period of time. Chapter Thirteen typically is used in a case where you have a house that
you’re delinquent on the mortgage or a car where you’re delinquent a few car payments.
The Chapter Thirteen plan, which is filed with the court, provides for a sixty-month
cure of the missing car payments and the missing house payments, and it makes a distribution
to your unsecured creditors based on the amount of disposable income that’s determined to
be in your household by something called “the means test.” Chapter Thirteen is fairly complicated
and I wouldn’t advise doing it without the help of competent legal counsel. My name is
Andy Forman. Good luck with your Chapter Thirteen Bankruptcy.