Florida Chapter 7 and 13 Bankruptcy Attorney
Before considering filing for bankruptcy it is important to have a clear idea of your rights and obligations under bankruptcy law. At the Law Offices of Craig Feldman, we offer the experienced services of a local bankruptcy attorney who can explain the bankruptcy process to you in easy to understand terms and answer all of your questions.
Hope is not a strategy. You need a plan to achieve security and financial independence. Let us help. Call 954-703-4109 or contact us by e-mail to schedule a free consultation with a Fort Lauderdale bankruptcy attorney.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is a good option for individuals with significant unsecured debts, including credit card debts and medical bills.
- Before filing you must gather all of your income and expenses to provide to your attorney in order to have us prepare the Petition, Schedules and Statement of Financial Affairs. All assets and liabilities must be noted, however with strategic planning, you can protect your assets in the process.
- You must also participate in a mandatory Credit Counseling course prior to the filing. Once your petition is filed, creditors will no longer be able to contact you. About 30 days after filing, a Trustee meeting will occur to meet with your creditors and liquidate your non-exempt assets to help pay your creditors.
- Creditors may object to any discharge of your debt, but this rarely occurs. A financial management course must be completed prior to your final discharge being granted by the court. Following a 60 day period when anyone can object to the discharge - with all other requirements completed - your Notice of Discharge will be mailed to you within 4-6 weeks. This formal discharge will eliminate all of your non-exempt debts.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is available for those who do not qualify for Chapter 7 because of income or those who want to protect property from foreclosure.
- As with Chapter 7, mandatory Credit Counseling must be completed prior to filing, and all of your income and expense information must be obtained for your Petition and other documents.
- As Chapter 13 involves restructuring your debt and paying it back within 3-5 years, a Statement of Financial Affairs and Plan must be filed with the Court. The plan must outline how each debt is going to be handled within the time frame allowed by Chapter 13. Your disposable income must all go to pay for these debts. This amount is determined by IRS allowed expenses, and it can sometimes be a hardship to live within the allowed means.
- Certain creditors must be fully paid back, while other debts can be negotiated. About one month after your filing, a meeting with the Trustee is held to review your paperwork and your repayment plan.
- All payments must be made timely or you risk falling out of bankruptcy protection, allowing creditors to once again pursue you for full payment. At the end of your Plan, the Trustee will process your discharge, however a financial management course must be completed prior to the final filing.
Guiding You Through the Bankruptcy Process
Filing for Bankruptcy is complex and involves much legal paperwork, timelines and coordination with the Trustee and the Court. When you retain the services of Craig Feldman, you can feel confident that all the necessary actions have been taken care of. Our office strives to provide you with sound financial advice and a quick resolution to your debt handling.
To explore your options in debt relief and bankruptcy, please call 954-703-4109 or contact us by e-mail to arrange a free consultation with our Fort Lauderdale, Florida bankruptcy lawyer. Se habla español.
