Legal Question in Bankruptcy in Florida

We are considering Chapter 13. We know how it works because friends of ours just did it, but we have 2 questions:

1. We have a small piece of land that is paid for; we owe no money on this land at all. Would we be able to keep it?

2. My husband is retiring in 3 years. How does that affect the payment schedule to the trustee?

Thanks...I would pay you, but I am at the end of the rope here...


Asked on 7/13/10, 7:03 am

1 Answer from Attorneys
Brian D. Lerner Law Offices of Brian D. Lerner, A Professional Corporation

Hello:

Chapter 13 proceedings do not take property. Thus, he would be able to keep it. Many Chapter 13 Plans are only 3 years, so that would not be a problem if your husband is retiring at that time.

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Answered on 7/22/10, 8:21 am


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