Caroline Secor PA

Chapter 13 Bankruptcy Port Richey

Obtain debt relief through Chapter 13

Chapter 7 bankruptcy is based on income limitations, and not everyone is eligible to file for Chapter 7. However, for some people struggling with debt, Chapter 13 bankruptcy is more appropriate. Port Richey Chapter 13 bankruptcy lawyers can review your debt and help you decide on the best approach to resolve your financial issues. Since 1989, the Law Office of Carolyn Secor, P.A. has provided valuable legal services to our clients, and we help numerous clients obtain relief from financial distress.

Fundamentals of Chapter 13 bankruptcy

For debtors who have substantial secured debt and do not want to relinquish assets in a Chapter 7 liquidation sale, Chapter 13 is frequently a viable solution. Chapter 13 earned the nickname “wage earner bankruptcy” because people with a stable income source can pay creditors based on a monthly repayment plan. Chapter 13 enables debtors to work with bankruptcy attorneys to reorganize their debt.

You and your bankruptcy lawyer sit down and figure out a repayment plan and, in many cases, you pay creditors at lowered interest rates. Typically, debtors keep all their property under Chapter 13, and secured debts have priority when working out monthly payments. Through a trustee-approved repayment plan, debtors can pay off creditors over a period of three or five years.

Chapter 13 advantages

Some Chapter 13 advantages are avoiding foreclosure or repossession of secured assets. Once you file the bankruptcy petition, a court order, called an automatic stay, goes into effect and prevents creditors from taking further collection efforts or legal actions. You have time to catch up on overdue payments. Also, when you have a co-signer on a personal loan, you do not put that individual at risk for having to pay your debt.

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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