Brevard County Chapter 13 Lawyer

Are you dealing with overwhelming debt and in need of the legal counsel of a trusted Brevard County Chapter 13 bankruptcy lawyer? If so, it may be in your best interest to contact Buchalter & Pelphrey Attorneys At Law, where we are devoted to helping individuals find solutions for their financial difficulties.

Because we understand that sometimes situations happen that leave us struggling to make ends meet financially, we have built a firm devoted to helping individuals get through their tough times utilizing various tactics, including Chapter 13 bankruptcy business reorganization.

What Are The Benefits of Chapter 13 Bankruptcy?

Under Chapter 13, you have the opportunity to speak with creditors in order to come up with a repayment plan that allows you to make one, affordable payment rather than numerous payments.

Chapter 13 Bankruptcy & Car Repossession

When you file for a Chapter 13 bankruptcy, most creditors are instantly prohibited from attempting to collect from you. This is known as an “automatic stay.” The automatic stay can also prevent your car loan lender from repossessing your vehicle. The automatic stay works in two different situations: after your car has been repossessed, and before your car has been repossessed.

Car Repossessed Before Chapter 13

If you are able to file for bankruptcy before your lender has repossessed your car, the automatic stay can prevent them from doing so until the judge has approved your repayment plan. Once your repayment plan has been approved, your car will be safe from your lender, provided you remain current on your payments.

Even though your lender cannot repossess your car after you have filed for bankruptcy, you still must make “adequate protection” payments from the time you file for bankruptcy until your repayment plan is approved. These payments cover the depreciation of your car during this time period and are generally equal to the amount of your car payment. You must keep making car payments until your plan is confirmed.

Car Repossessed After Chapter 13

If your car was repossessed before you were able to file for bankruptcy, you may be able to get your car back. This will require you to provide for past-due payments, called arrearage, in your repayment plan. You must also be able to continue making your monthly payments. If your car is repossessed and you intend to file for a Chapter 13 bankruptcy shortly, you should contact an experienced bankruptcy attorney immediately.

• Related: Understanding Your Rights in Repossession Cases

Will Chapter 13 Bankruptcy Take All My Money?

When you file for Chapter 13 Bankruptcy you agree on committing all your disposable income on paying your debt over the life of the repayment plan. Disposable income is what you have leftover at the end of the month after paying for necessary living expenses.

How Our Chapter 13 Bankruptcy Attorneys Can Help

We understand how difficult it is to live paycheck to paycheck and still not have the opportunity to catch up on your debt. By filing for Chapter 13 bankruptcy and coming up with a more manageable repayment plan, you are allowing yourself the opportunity to catch up on the past dues owed and still afford your normal payments.

You can trust that our Brevard County Chapter 13 Bankruptcy Lawyers at Buchalter & Pelphrey will help you petition for Chapter 13 bankruptcy in a timely and accurate manner. If you are dealing with financial distress and are feeling overwhelmed, do not hesitate to reach out to our legal team. We have offices in Merritt Island and Melbourne.