Home Contact Us
CHAPTER 7
CHAPTER 13
WARNING SIGNS
OF FINANCIAL
CRISIS
FORECLOSURE
LAWSUITS
SHORT SALES
MORTGAGE MODIFICATION
 
        Thank you for your interest in the Anderson & Ferrin Attorneys at Law, P.A. We look forward to meeting you personally at our office. Call (407) 412-7041 to schedule your consultation.
- Michael & Victoria
Florida Bar Profile
 

View Larger Map
 
Se Habla Espanol
Firm Overview Attorneys Profile Areas of Practice Resources FAQs Interesting Facts

Orlando Bankruptcy Lawyer
Chapter 13 Bankruptcy
In 2005 the requirements to file bankruptcy changed and law makers developed what is called the “Means Test”. This new test means that you can no longer just file a Chapter 7 if you need to, now you have to qualify for it. This in turn makes it difficult for some people to file Chapter 7 and therefore need to file another type of bankruptcy called Chapter 13.

Chapter 13 bankruptcy is known as a debt reorganization bankruptcy and is designed for individuals that are overwhelmed with their debts but with some restructuring could afford to pay some of their debts back over time. This type of bankruptcy is not worse or better than other types it’s just different and provides the individual filing with different tools at their disposal to handle their particular needs.

In most cases Chapter 13 allows you to take control of your debts and structure a monthly payment that you and your family can afford while in most cases discharging the majority of your debts. In some cases Chapter 13 can help you save your home by stopping foreclosure and helping you catch up on your mortgage. In some cases, if your homestead property is worth less than what you owe on your first mortgage we can use the tools available to you in Chapter 13 to strip any subsequent mortgages such as an equity line or second mortgage.

In Chapter 13 you can also attempt to modify your mortgage on your primary or homestead property if you qualify for the HAMP program or one of your lenders in-house modification programs. The bankruptcy division here in Orlando is one of very few places where modifying your mortgage in a bankruptcy is available to you. With the tools provided in Chapter 13 we can ask that the mortgage company to appear at a mediation in an attempt to negotiate the terms of your mortgage to make your home more affordable. It can often be done in a fraction of the time as a conventional modification outside of bankruptcy.

If you would like more information on how a Chapter 13 or any other bankruptcy could help you we invite you to give us a call and come in for a FREE CONSULTATION to discuss your options.

For information regarding our other areas of practice - Criminal Law & Family Law - Click Here


Disclosure:
This Web site is not intended to constitute legal advice or the provision of legal services. Material presented on the Law Office of Anderson & Ferrin Web site is intended for informational purposes only. By posting and/or maintaining this Web site and its contents, the Law Office of Anderson & Ferrin does not intend to soliciit legal business from clients located in states or jurisdictions where Michael Ferrin and Victoria Anderson or any individual attorney in their firm is not licensed or authorized to practice law. Some links within this Web site may lead to other Web sites. The Law Office of Anderson & Ferrin does not necessarily sponsor, endorse, or otherwise approve of the materials appearing in such Web sites.
The U.S. Congress has designated us as a Debt Relief Agency. We help people file for Bankruptcy Relief under the Bankruptcy Code.
“The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience.”