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Chapter 13 Bankruptcy Lawyer New Port Richey FL

Filing for bankruptcy can be frightening. Not only is your financial situation concerning, but you are likely worried about what your future finances will look like after filing for bankruptcy. A good lawyer will be on your side every step of the way. Your first task will be speaking with a law firm that specializes in bankruptcy. If your lawyer advises you to file for Chapter 13 bankruptcy, you will want to speak with a Chapter 13 bankruptcy lawyer in New Port Richey, Florida from Carolyn Secor, P.A. as soon as possible so that he or she can help you move forward. 

Why Someone Might Choose to File for Chapter 13 Bankruptcy

Chapter 7 bankruptcy and Chapter 13 bankruptcy are the most common forms that people file for. Chapter 13 bankruptcy involves restructuring your debts, which means it may involve more work, but will ultimately be a good plan for someone who has a job and will still be able to pay their debts back in a way. 

Benefits of Chapter 13 Bankruptcy

Someone might decide to file for Chapter 13 bankruptcy in order to still keep some belongings and even their home. Chapter 13 bankruptcy is good because you are able to keep your home and merely restructure your debts in a way that allows you to pay off the people that you owe. Being able to keep your home might be an enormous benefit to filing for Chapter 13 bankruptcy. You can also keep many precious family heirlooms, while with Chapter 7 bankruptcy you will likely need to sell most items of value that you have in order to file for bankruptcy. 

How Long Does Everything Take? 

Chapter 13 bankruptcy typically resolves in a matter of years. It is not as quick as Chapter 7, but does allow you to keep more of your possessions and lifestyle. Your credit, however, will start rebuilding itself right away. People are often scared of filing for bankruptcy because they think that their credit will take an enormous hit and struggle to recover. While your credit will be affected, it is not as detrimental as it may seem. Your Chapter 13 bankruptcy lawyer from Carolyn Sector, P.A. will be able to walk you through increasing your credit score and how to financially recover after filing for bankruptcy. Your lawyer will be there every step of the way to make sure that you are making all of the right moves to a better financial future.