The Wage Earner’s Plan: Chapter 13 Bankruptcy

The attorneys of McIntyre Thanasides Bringgold Elliott Grimaldi Guito & Matthews, P.A., help people in Tampa, Sarasota and throughout west central Florida file Chapter 13 bankruptcy. This form of bankruptcy is a financial reorganization plan for individuals. It allows you to set up an affordable plan for repaying some or all of your debt over three to five years.

Who Can File Chapter 13 Bankruptcy?

Chapter 13 is a bankruptcy plan for individuals, not companies. If you have a regular source of income and your debt does not exceed certain limits, you may be able to file Chapter 13 bankruptcy. Our attorneys can review your source of income and the amount and type of debt you owe to determine whether Chapter 13 is an option for you.

While Chapter 13 bankruptcy is called the wage earner’s plan, you may be able to file Chapter 13 even if you do not earn wages. Regular income or benefits from a pension plan, Social Security income, alimony or child support, workers’ compensation or disability insurance qualify as income under Chapter 13.

What Are the Advantages of Filing Chapter 13?

One of the most attractive features of Chapter 13 is that is provides the opportunity to stop foreclosure proceedings. In some cases, we can help you set up a plan to repay mortgage arrears over the term of the bankruptcy plan.

Chapter 13 allows you to make one monthly payment to the bankruptcy trustee, who distributes the money to your creditors. Your monthly payment is what is left over from your income after your living expenses, not the other way around.

Representing Clients in Tampa, Sarasota, Orlando, Dade City and Throughout West Central Florida

Like other forms of bankruptcy, Chapter 13 will stop creditor harassment and stop repossessions. To discuss your legal and financial situation, please contact the bankruptcy lawyers of McIntyre Thanasides Bringgold Elliott Grimaldi Guito & Matthews, P.A.