Caroline Secor PA

Chapter 13 Bankruptcy Hudson

Chapter 7 vs. Chapter 13 Bankruptcy

If you are considering filing for bankruptcy in order to alleviate yourself of debt then you will want to know under which chapter you should file. It is important that you understand your options and what the various repercussions will be for filing either Chapter 7 or Chapter 13. At the Carolyn Secor PA offices, I will be able to answer various questions you may have, and provide you with legal advice regarding your case. I will also be able to help you through this process if you choose to work with my firm.

Knowing Your Best Bankruptcy Option

Chapter 7 is the most common form of bankruptcy and involves liquidating your assets in order to pay and discharge unsecured debts. In the state of Florida there are exemptions that refer to exempt properties that are essentially secure from liquidation. Homesteads are one exemption in Florida, and due to the liberal exemption laws found in this state, debtors often have little non-exempt personal property.

Chapter 13 bankruptcy is a method employed to essentially restructure your debt rather than discharge or eliminate debt. If you choose this option in Florida, you will be able to propose a 3-5 year repayment plan to your creditors to repay outstanding debts with your future income. This is a method that will protect liquidation of your assets and is most often used to protect a home from foreclosure.


Carolyn Secor


The federal government passed new bankruptcy reform legislation in October 2005. However, don't be discouraged! Most studies indicate that the new law affects less than 15% of individuals who could have filed previously. If you are feeling overwhelmed by your debts and considering filing bankruptcy, it is highly probable that you fall into the category of the 85 percent of people who are still eligible to file.




"Serving Pinellas, Pasco, and Hillsborough Counties."

Carolyn Secor, Attorney at Law
Bankruptcy Attorney Tampa Bay Florida
Florida Law Firm with Offices in
Clearwater (Main Office) Tampa St. Petersburg Port Richey
Phone:  1-727-254-1704

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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