Q. How Do I Know if I Qualify for Chapter 13 Bankruptcy in Florida?

A. You generally qualify for Chapter 13 if you have a regular source of income, and your unsecured debts are below $468,275 and secured debts are under $1,392,300 (as of 2024 limits). You must also complete credit counseling before filing. Since residency affects exemption claims, living in Palm City or elsewhere in Martin County doesn’t disqualify you, but timing matters for asset protection.

Q. What Happens to My Mortgage if I File Chapter 13 in Palm City?

A. Filing Chapter 13 immediately stops foreclosure through the automatic stay. You can then catch up on missed mortgage payments over three to five years through your court-approved repayment plan. This makes it one of the most effective tools for Palm City homeowners who want to keep their property while resolving arrears.

Q. Can I Get Rid of My Second Mortgage Through Chapter 13?

Yes, in many cases. If your home’s value is less than what you owe on your first mortgage, Florida law may allow you to “strip” the second mortgage lien entirely, treating it as unsecured debt that gets discharged at the end of your plan. This process, called lien stripping, is only available in Chapter 13 and requires precise valuation and court approval.

Q. Will Filing Chapter 13 Ruin My Credit Forever?

A. A Chapter 13 bankruptcy stays on your credit report for up to seven years, but many clients begin rebuilding credit within months of filing, especially after making consistent, on-time plan payments. Lenders often view a confirmed Chapter 13 plan favorably because it shows financial responsibility. In fact, you may qualify to refinance or buy a home after just 12 timely payments.

Q. How Soon Can I Talk to a Local Attorney About My Situation?

A. You can speak with a Palm City–serving bankruptcy attorney today. At Ozment Law, we offer same-day consultations and have helped thousands across Martin County find relief. If you’re behind on bills, facing foreclosure, or worried about losing your car, don’t wait! Call (561) 689-6789 now for your free, no-obligation case review with Drake Ozment.

Chapter 13 Bankruptcy Attorney in Palm City, FL

If you’re facing overwhelming debt, rising mortgage arrears, or the threat of vehicle repossession, financial stress can quickly consume your daily life. You may feel trapped with no clear path forward. At Ozment Law, our team provides a proven solution: personalized Chapter 13 bankruptcy guidance tailored to residents of Palm City, FL. As your dedicated Chapter 13 bankruptcy attorney firm, we help you restructure debt into manageable payments while protecting your home, car, and future. Call Ozment Law today at (561) 689-6789 for your free consultation and take the first step toward lasting financial stability.

When Chapter 13 Makes Sense

A Chapter 13 bankruptcy attorney can determine if this option aligns with your financial goals. Chapter 13 is often appropriate for individuals whose income exceeds the limits for Chapter 7 but who need a structured way to address secured debts. It is especially beneficial if you are behind on mortgage payments and wish to avoid foreclosure or if you own assets you want to protect from liquidation.

Through Chapter 13, you can catch up on missed payments over time while halting creditor actions immediately upon filing. This legal tool also allows you to consolidate unsecured debts, such as credit cards or medical bills, into a single monthly payment, often at reduced amounts.

Key Benefits of Filing Chapter 13:

Chapter 13 has plenty of benefits:

Stop foreclosure immediately upon filing and create a plan to repay mortgage arrears
Keep your vehicle by restructuring auto loan payments or eliminating junior liens
Protect non-exempt assets that might be lost in a Chapter 7 filing
Consolidate multiple debts into one affordable monthly payment
Discharge remaining unsecured debt after successful plan completion
Restore financial control with court-supervised budgeting and creditor protection

Whether you're self-employed, recently divorced, or recovering from a medical emergency, a Chapter 13 bankruptcy attorney in Palm City, FL, can help you navigate complex eligibility rules and design a repayment strategy that fits your income and obligations.

How the Repayment Plan Works

Under Chapter 13, you propose a court-approved repayment plan that typically spans three to five years. The length depends on your household income relative to Florida’s median. During this period, all collection activity stops, including wage garnishments, lawsuits, and foreclosure proceedings. Your monthly payment is calculated based on disposable income, secured debt obligations, and priority claims.

At the end of the plan, qualifying unsecured debts are discharged. This process provides not only immediate relief but also a clear roadmap to becoming debt-free without losing essential property. With guidance from a Chapter 13 bankruptcy attorney firm, you’ll understand exactly what to expect each month and how to stay compliant with court requirements.

Chapter 13 Timeline

Step 1: Initial consultation with a Chapter 13 bankruptcy attorney firm in Palm City, FL, to review eligibility and financial documents.

Step 2: Completion of mandatory credit counseling within 180 days before filing.

Step 3: Filing of the bankruptcy petition and submission of your proposed repayment plan.

Step 4: Automatic stay goes into effect immediately, halting all creditor actions.

Step 5: Meeting of creditors (341 meeting) and potential confirmation hearing before a bankruptcy judge.

Step 6: Successful completion of the 36- to 60-month plan leads to discharge of remaining eligible debts.

This structured timeline ensures predictability and accountability. Throughout the process, attorney Drake Ozment personally oversees your case, keeping you informed and prepared at every stage. As a seasoned Chapter 13 bankruptcy lawyer, he ensures your plan meets all legal standards while maximizing your financial recovery.

Chapter 13 Bankruptcy Attorney FAQ

Q. How Do I Know if I Qualify for Chapter 13 Bankruptcy in Florida?
A. You generally qualify for Chapter 13 if you have a regular source of income, and your unsecured debts are below $468,275 and secured debts are under $1,392,300 (as of 2024 limits). You must also complete credit counseling before filing. Since residency affects exemption claims, living in Palm City or elsewhere in Martin County doesn’t disqualify you, but timing matters for asset protection.
Q. What Happens to My Mortgage if I File Chapter 13 in Palm City?
A. Filing Chapter 13 immediately stops foreclosure through the automatic stay. You can then catch up on missed mortgage payments over three to five years through your court-approved repayment plan. This makes it one of the most effective tools for Palm City homeowners who want to keep their property while resolving arrears.
Q. Can I Get Rid of My Second Mortgage Through Chapter 13?
Yes, in many cases. If your home’s value is less than what you owe on your first mortgage, Florida law may allow you to “strip” the second mortgage lien entirely, treating it as unsecured debt that gets discharged at the end of your plan. This process, called lien stripping, is only available in Chapter 13 and requires precise valuation and court approval.
Q. Will Filing Chapter 13 Ruin My Credit Forever?
A. A Chapter 13 bankruptcy stays on your credit report for up to seven years, but many clients begin rebuilding credit within months of filing, especially after making consistent, on-time plan payments. Lenders often view a confirmed Chapter 13 plan favorably because it shows financial responsibility. In fact, you may qualify to refinance or buy a home after just 12 timely payments.
Q. How Soon Can I Talk to a Local Attorney About My Situation?
A. You can speak with a Palm City–serving bankruptcy attorney today. At Ozment Law, we offer same-day consultations and have helped thousands across Martin County find relief. If you’re behind on bills, facing foreclosure, or worried about losing your car, don’t wait! Call (561) 689-6789 now for your free, no-obligation case review with Drake Ozment.

Take the Next Step Toward Financial Stability

Ozment Law proudly serves Palm City, FL, with experienced, compassionate representation in Chapter 13 bankruptcy matters. Since 1990, attorney Drake Ozment has helped over 10,000 clients regain control of their finances using strategies tailored to South Florida residents.

If you’re ready to halt creditor harassment, stop foreclosure, and build a realistic path out of debt, contact Ozment Law for your free consultation with a trusted Chapter 13 bankruptcy attorney. Your fresh start begins with one call.