What if I want out of my Chapter 13 Florida Bankruptcy?
Many times debtors want out of their Chapter 13 plan payments. In order to do so, the debtor must pay its unsecured creditors 100% in full or ask permission from the court. any times, it is in the debtor's best interest to convert the case over to a Chapter 7 if the plan payments are not affordable.
However, if the case is dimissed for lack of payment, then the debtor may reinstate the case (if time permits) or file a new Chapter 7 or 13 case. Also, the Chapter 13 plan may be modified to account for a change of income, but you must inform the Trustee or your attorney in a timely fashion Please keep in mind that if the case is dimissed, the automatic stay terminates and your creditors can pursue state law remedies against you.
If you have questions about Florida Foreclosures or Bankruptcy Law contact a Florida Attorney
Greg Gilbert
Keith Maynard
