Bankruptcy is a term used to describe a situation where a person or business can no longer pay their debts. Bankruptcy is filed under 3 main types of bankruptcy; Chapter 7, Chapter 11 and Chapter 13. The bankruptcy laws are used to help a person or business liquidate assets and pay off creditors or enable […]
Widerman Malek Law Blog
Florida law and Chapter 13 bankruptcy
What is a Chapter 13 bankruptcy? When an individual cannot pay his or her debts under the current repayment arrangements with his/her creditors, he or she can file for a Chapter 13 bankruptcy. Under its provisions, a proposal must be submitted to the creditors for a 3 to 5 year repayment plan, which will offer […]
What you need to know before your Chapter 13 Discharge
Nearing a Chapter 13 discharge brings relief to many. After months or years of payments and litigation, you can finally begin your new financial life. As you enter this new phase, there things to keep in mind to insure your discharge and to prepare for financial freedom. Maintain plan requirements Fight any urge to celebrate […]
