Your Bankruptcy Attorney in Orlando, FL, Can Help Relieve Debt
If you find yourself overwhelmed with mounting debt you cannot pay and you are faced with being harassed by creditors and the possibility of having your home foreclosed or vehicle repossessed, you are not alone. Many responsible, hardworking people can be hit with unexpected medical bills, job loss, or other financial setbacks, as well as unmanageable student loans and tax problems. The good news is you have help available to get past this crisis and get back on the road back to good financial health.
Bankruptcy is the legal process to have many of your debts forgiven and to get a fresh financial start while keeping most, if not all, of your possessions. A properly handled bankruptcy can free you of harassment from creditors and the threat of repossessions, foreclosure, and wage garnishment, while providing a way for you to keep your assets and begin to rebuild your life.
How do you know if bankruptcy is right for you? As a lawyer, I know how difficult it can be to have financial problems. I will listen to your concerns and evaluate your individual situation to help you decide if bankruptcy, or some other debt relief option, is the best solution for you and your family. I have the knowledge, experience, and resources to help you get back on the road to financial recovery.
Your Orlando Bankruptcy Attorney Works to Help You
Why Choose Me?
Bankruptcy laws can be complicated, so it is important to select an attorney who has the skills and ability to find the best solution to your debt problems. Here are some reasons that I believe I am your best choice:
- I am experienced and focus on bankruptcy and debt relief solutions. I know the intricate details of federal and state laws, and I will work with you to find the best path possible for your individual circumstances.
- I provide individual attention and guidance. You will meet directly with me. I will be handling your case from start to finish.
- I am affordable. I understand that those struggling with debt cannot afford to be burdened with large attorney fees, so I make my services as affordable as possible, and can save you money by preventing you from making costly mistakes. I offer payment plans.
- I am available to address your concerns all steps of the process. Unlike other law firms, I do not pawn you off on staff. I am available to you from start to finish.
How I Work to Help You
When you have me on your side, I will start working for you immediately. I will:
- I meet with you to discuss your debt situation and determine which type of bankruptcy or other debt relief solution may be best for you.
- I examine all your finances and assets to see what exemptions you may qualify for to protect your property and what will happen to property you cannot exempt.
- I file all paperwork promptly and attend all court appearances in accordance with state and federal bankruptcy law.
- I am there for you to answer questions and ensure you meet all requirements (such as credit counseling) so your bankruptcy can be completed and your eligible debts discharged.
Do not delay, as your debt situation can only get worse if not addressed. Take the first step to start working toward a brighter financial future today: (407) 749-0080
Bankruptcy Attorney in Orlando, FL, Explains Types of Personal Bankruptcy
The United States Bankruptcy Code Title 11 governs the procedures involved with filing for bankruptcy and provides several ways for individuals to file. There are also individual state bankruptcy laws that come into play.
Chapter 7 Bankruptcy: will discharge (eliminate) most or all consumer unsecured debt such as credit cards, medical bills, and unsecured loans and so they no longer have to be paid. If your income is too low to pay credit card bills, medical bills, utilities, payday loans or personal loans, this may be the best option for you. Chapter 7 bankruptcy is about four months from filing to discharge, so you can begin rebuilding credit quickly afterwards. While it is rare to have to liquidate some property, there are generous Florida bankruptcy exemptions that protect most day-to-day items that you own from being sold.
Florida generally allows you to exempt an unlimited amount of equity in your home or other property covered by the homestead exemption. You are also allowed an exemption for motor vehicle equity and for wages of the head of the family, up to a certain amount.
Other exemptions include:
- Personal property
- Education savings, health savings, and hurricane savings
- Prescribed health aids, health and medical savings accounts
- Earned Income Credit of your tax refund
- Funeral costs
- Particular partnership property
- Pensions and retirement accounts
- Public benefits
- Alimony and child support
- Insurance policies and annuities
There is also a “wild card” exemption if you do not use the homestead exemption. (FL 225.25). If you do not own a great deal of property, your possessions may be all be exempt, qualifying you for a “no asset” case.
Not everyone is eligible for Chapter 7 bankruptcy protection. Your income and debt will be subjected to something called a “means test” to determine if you qualify. Your average income must be below the state’s median income. This amount changes periodically, as do amounts allowed for exemptions. Your Orlando bankruptcy attorney can tell you how the current exemptions apply to you.
Chapter 13: Chapter 13 bankruptcy is a repayment plan that allows you to repay some or all of your debt affordably over a three- to five-year period. This plan is best for people who don’t qualify for Chapter 7, and who have a steady income, temporary financial problems, and a desire to repay some of the debt in order to keep an asset such as a car or house.
Under Chapter 13, you consolidate your debt payments to avoid late fees and credit card interest. In Chapter 13, you must be able to show you can afford to pay your monthly household obligations and the monthly plan payment.
If you successfully complete the court-approved payment plan, the debts covered by the plan are discharged (eliminated). In addition, there is an automatic stay provision in Florida bankruptcy law that requires that all collection activity against debtors stop immediately after a case has been filed. That means harassing phone calls and letters from your creditors must stop during the repayment period, as well as all lawsuits including foreclosures and evictions.
Bankruptcy Attorney in Orlando, FL, Answers FAQs
When faced with filing for bankruptcy, you may feel confused and have many questions. These are best addressed at your initial consultation, but to get you started, here are some answers to questions I am often asked:
No. After filing your bankruptcy petition, you will be required to attend a hearing called a First Meeting of Creditors where a bankruptcy trustee asks you questions about your bankruptcy papers and financial situation, and creditors are permitted to do so as well. I will prepare you and accompany you to this meeting. But the good news? This meeting is over the telephone. It is very rare for a client to ever appear in person in court during their case.
There is a limit on how often you can file for bankruptcy. It depends on the filing date of the last case, what type of case filed, and whether you received a prior discharge. This generally depends on which chapter you are filing under, as follows:
- Chapter 7, then Chapter 7 —– Eight years
- Chapter 13, then Chapter 13 —Two years
- Chapter 7, then Chapter 13 — Four years
- Chapter 13, then Chapter 7 — Six years.
What you will pay depends on what debts go into the plan and their amounts. The total is then divided by 36 or 60—the number of months in your repayment plan period – to come up with your monthly amount.
Chapter 7 generally takes 120 days from filing to discharge. Chapter 13 is generally 36 to 60 months.
While bankruptcy can discharge most unsecured consumer debt, it will not eliminate student loan debt, child support or alimony, most IRS debt, and any debt incurred as the result of fraud and/or criminal activity.
While bankruptcy filing typically involves court and lawyer fees, I will work out an affordable way to manage the cost. Most people are able to afford my fees by no longer making credit card payments they were struggling to manage. In addition, after successfully discharging your debts, you will wind up in a much better position than you were in before filing to start rebuilding your credit.
When you have me on your side, I will be there to answer all your questions as they come up.
Get Help from an Orlando, FL, Bankruptcy Lawyer Today
When you consult with me, I will evaluate your entire financial situation by looking at your income, your debts, and your goals, then we will make sure you know all your options for your financial situation.
Call me today to get started on the right path to a brighter future.