What debts can I include in my Chapter 13 Florida Bankruptcy?
You can include all of your debts. You will just have one very large payment to make to the Trustee every month. However, the more you include in the plan, the more that will be allocated to the Trustee and less to your creditors.
Most debtors leave their mortgage, and other secured debt outside of the bankruptcy. If there are any arrearages on secured debt, that will be included in the plan and the debtor will have 5 years to bring the debt current.
If the debtor has a vehicle or multiple vehicles that qualify for "cram down," then the debtor may want to include those vehicles in the plan. Cram down just refers to the ability to make the value of the loan equal to the value of the car.
If you have questions about Florida Divorces or Bankruptcy Law contact a Florida Attorney
Greg Gilbert
Keith Maynard
