 |
|
Pay Off |
From Only |
|
$15,000.00 |
$55/Month |
|
$20,000.00 |
$75/Month |
|
$30,000.00 |
$105/Month |
|
$50,000.00 |
$185/Month |
*Above examples
represent minimum payment available for typical CH 13 plan filed in Middle
District of Florida. Results may vary depending on your individual
circumstances. |
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What is a 341 meeting?
This meeting is referred to as the “meeting of
creditors.” All creditors are notified so that they may attend, but
their attendance is not required. Debtors have a duty to appear and
testify under oath and answer questions by creditors. This meeting is
presided over by the trustee assigned to the case and is held
approximately 40 days after the petition is filed. Debtors are required
to provide photo identification and proof of social security number to
the assigned trustee. A Debtor’s failure to appear may result in
dismissal of the case. If a continuance or change in the hearing date is
sought, the trustee assigned to the case must be contacted.
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Chapter 7 is the most common form of
bankruptcy, and is usually used to discharge, or ‘wipe out’, your
unsecured debt such as credit cards; medical bills; most personal
loans; judgments; deficiencies on repossessed property, etc.
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Chapter 13 is usually used if you are seeking to protect property such
as a home, boat or automobile from collections and repossession.
Chapter 13 requires you to have some regular source of income, and
affords you an opportunity to repay any delinquent debt amounts over a
3 to 5 year period, while you are entitled to keep possession of the
property you are seeking to protect.
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