Are you behind on monthly bills?
Are you being harrassed by debt collectors?
Are your wages being garnished?
Are you behind on your mortgage payments?
Are you being sued?
Take the step toward financial freedom and contact us now. We understand the hardest part is making that first step. Chapter 7 bankruptcy allows a person to liquidate their non-exempt assets and distribute the proceeds to creditors in exchange for the discharge of their debts. Chapter 13 bankruptcy allows a person to to get caught up on their mortgage payments. A Florida bankruptcy attorney will use their experience and knowledge of Florida bankruptcy law to come up with a positive solution for you.
Chapter 7 Bankruptcy
A Chapter 7 can help!
Chapter 7 Bankruptcy is often called the “fresh start” provision of the bankruptcy code because it allows you to wipe out all of your debt. In a Chapter 7, we show the Court that you are unable, based upon your budget, to pay the debt that currently hangs over you.
Chapter 7 is the most known type of bankruptcy. It involves the use of income and liquidation of all nonexempt assets to repay as much debt as possible. In return, the court forgives the business or individual of any and all remaining debt. In many cases, a person may go through chapter 7 bankruptcy without losing any assets, espescially if the person has no assets, or if those assets have been deemed to be exempt. This is generally the fastest way to file for bankruptcy and can be over qquickly in short order with the assistance of a skilled Florida bankruptcy chapter 7 attorney.
Due to Florida bankruptcy laws, there are a lot of different assets that can be exempted from the liquidation process in chapter 7 bankruptcy. Some of those exemptions include the person's house, retirement accounts, benefits and many other personal or business assets. Debtors may also be allowed to keep automobiles and personal possessions such as jewelry or gifts, and can even keep money saved in the bank from wages. In many cases, an individual or business may be allowed to undergo the bankruptcy process without losing anything at all.
There are a lot of complicated details that may determine what can and cannot be excluded from liquidation, however, so be sure to consult a chapter 7 bankruptcy attorney before moving forward.
Keep Your Home and Get Rid of Your Debt
Filing for Chapter 13 bankruptcy under federal law is known as debt consolidation or a debt repayment plan. In Chapter 13 bankruptcy, an automatic stay is issued once paperwork is filed with the bankruptcy court. Creditors are barred from filing a lawsuit against you for money owed. All collection processes, including harassing phone calls, must stop.
Part of the chapter 13 bankruptcy paperwork filed with a court must contain a repayment plan. The court has the option of rejecting or approving this repayment plan. This plan must specifically outline how you will repay your creditors over a period of 36 to 60 months. Payments are often made one month after the court approves the chapter 13 paperwork.
Of course, your financial circumstances may change while you are in a chapter 13 bankruptcy. If you find that you can no longer afford your chapter 13 bankruptcy plan payment, an experienced chapter 13 bankruptcy lawyer can either modify your plan, or can convert your case to Chapter 7 and wipe out debts.
If you have a steady income but are afraid of losing your home, or you have other kinds of debt, such as student loan debt, that Chapter 7 doesn’t discharge, you might consider filing for Chapter 13 bankruptcy.
EASY TO FILE BK is a division of Jolly Esquire PLLC. Jolly Esquire is a full-service law firm that provides high-quality legal services to individuals and businesses throughout the State of Florida, nationwide, and internationally.
Our mission is to help our clients create generational wealth through debt relief services, entrepreneur education, business legal strategy and brand protection.
Our vision is to use innovation to help us consistently provide excellent client service while delivering legal solutions, for a sensible fee.
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