Is Chapter 13 Bankruptcy an option for me if I am self-employed?

Yes, Chapter 13 Bankruptcy is an option for self-employed people in Florida. This type of bankruptcy is a legal process that allows individuals to restructure their debt into a repayment plan. It is available for both businesses and individuals, allowing self-employed individuals to reorganize their debt into a plan that works for them. In order to qualify for Chapter 13 Bankruptcy, you must have a regular source of income and have some disposable income to put toward your debts. Additionally, you are required to file a repayment plan, called a ‘voluntary petition’ to the court. The plan must demonstrate that you are able to make the payments on the court-approved repayment schedule. Once your petition is approved, you will be required to make regular payments over a three- to five-year period. These payments are based on your disposable income and the total debt you owe. During this time, many creditors are prohibited from collecting on the debts included in the plan, giving you the opportunity to get back on track financially. Chapter 13 Bankruptcy is a great option for self-employed individuals who need to reorganize their debt and get back on financial footing. It offers the protection of the law while getting out of debt, allowing you to restart fresh and move on with life.

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Is Chapter 13 Bankruptcy an option for me if I am self-employed?

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