Julian Credit Management is a non-profit, nationwide
debt consolidation and credit counseling organization, located in Central Florida.
Our dedicated counselors can help you restructure your bills
and make a payment plan that can cut years and thousands
of dollars off your long-term debts like credit cards, mortgages, and other loans.
Our debt management program can help you repay your debts:
We help you establish a spending plan, determine your financial options,
save money on interest and late fees, get your creditors off your back,
and provide you with useful information.
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A Chapter 7 bankruptcy is normally filed by people as well as businesses who have little or no income left over after paying their basic living expenses (rent, utilities, car payment, food, furniture payments, etc.).
When a person files a Chapter 7, their goal is to wipe out most if not all of their debts. One would file under Chapter 7 if their debts were largely unsecured, which means items that are not secured by any collateral (credit cards, medical or utility bills, etc). If one's debts were mostly unsecured loans or credit cards, they would most likely want to file Chapter 7.
A Chapter 13 bankruptcy is a debt repayment plan. The purpose of Chapter 13 bankruptcy is to pay one's debts in an orderly fashion as opposed to wiping the debt out as in a Chapter 7 case. A person must be employed to be granted a Chapter 13 bankruptcy so they can make regular payments to the Bankruptcy Court. The payments they make to the court are then distributed among the creditors.
There are certain situations where a Chapter 7 bankruptcy would not be in one's best interest. In some situations one just wants some breathing room to catch up with their payments. Chapter 13 is suited for when one is best off paying their debts but just need more time than their creditors will give them. Most people who file under Chapter 13 do so because they have fallen behind on their mortgage payments and are facing the possibility of foreclosure. In such situations, bankruptcy law allows debtors up to five years to pay the overdue payments while maintaining their regular payments
Julian Credit Management is a firm that practices exclusively in the area of Bankruptcy and Debt Consolidation and has offices in Clearwater (Pinellas County), Port Richey (Pasco County), Tampa (Hillsborough County), Lakeland (Polk County) and Orlando (Orange County). We represent persons throughout the State of Florida.
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