With unique experience as a Staff Attorney for the Chapter 13 Bankruptcy Trustee, Sandra L. Hibsch has hands-on experience to help you through your financial struggles. The insights she’s gained allows her to share the specific details involved when your bankruptcy process begins.
Chapter 13 allows you to reorganize—and reduce—your debt
This method allows you to negotiate your debt, consolidate it, and reduce it. It’s for people capable of paying some of their debt but who will, most likely, never be able to re-pay all of it. If you are eligible, the debts will be reduced and the amount of re-payment will be determined.
Once we determine if you are eligible for Chapter 13, Chapter 7, or if alternatives to bankruptcy exist for you, we can complete appropriate paper work. In most cases, interest rates can be lowered and some debts eliminated.
Chapter 13 is completed between 3 and 5 years. After the process, you will have your debts behind you. In contrast, making minimum payments on debts—including credit card debt—can mean never-ending payments. No matter how hard you try, the debt will win and the cost will be your quality of life. Along with the debt relief that comes, you may envision a time where financial stress no longer dominates each waking moment of your life.
What are some additional advantages?
Immediate debt relief. The harassment by collectors will stop. The threat of car repossession will stop. Wage garnishment will stop. Home foreclosure will stop. The sooner you contact an attorney, the sooner your financial freedom can be regained and you can live a stress-free life after bankruptcy. Other advantages:
- If you are a behind on mortgage payments, property taxes or HOA fees you will get time to “catch up” and stop the threat of foreclosure.
- You will get relief by Discharging your debt.
- If your house is underwater you may be able to discharge your secondary loans.
- You can pay IRS debts and penalties interest free.
For more details about the process, contact Tampa Chapter 13 bankruptcy attorney Sandra L. Hibsch.