Azalea Park Bankruptcy Attorney
Juan Burgos, Esq.
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Experienced Azalea Park FL Bankruptcy Attorney: Find Relief with Juan Burgos
Are you drowning in debt, feeling overwhelmed and unsure of where to turn? You’re not alone. Thousands of people in Azalea Park, FL, find themselves in similar situations every year. The good news is, there’s a way out – bankruptcy. As a skilled Azalea Park FL bankruptcy attorney, Juan Burgos has helped countless individuals like you regain control of their finances and start fresh.
Understanding Bankruptcy: Chapter 7 vs. Chapter 13
Bankruptcy is a legal process that allows individuals and businesses to eliminate or repay some or all of their debts under the protection of the federal bankruptcy court. In Florida, two common types of personal bankruptcy are Chapter 7 and Chapter 13.
Chapter 7 Bankruptcy: A Fresh Start
Also known as liquidation bankruptcy, Chapter 7 is designed to provide a fresh start for individuals with limited income. Here’s how it works:
- You must pass the means test, which compares your income to the median income in Florida.
- Non-exempt property may be sold to pay off creditors, but many people keep all their property because they have few or no non-exempt assets.
- Most unsecured debts, like credit card debt and medical bills, are discharged (eliminated).
“Chapter 7 is designed for debtors in financial difficulty who do not have the ability to pay their existing debts.”
Chapter 13 Bankruptcy: Reorganizing Your Debts
Chapter 13, known as reorganization bankruptcy, is for individuals with regular income who want to pay off some or all of their debts over time. Here’s how it works:
- You propose a repayment plan lasting three to five years.
- You must complete the plan to receive a discharge of your remaining eligible debts.
- Your plan must show that you have enough income left over after paying monthly living expenses to make payments on your debts.
“Chapter 13 allows individuals to keep their property by repaying creditors through a repayment plan.”
Florida Bankruptcy Laws and Procedures
Florida has its own unique bankruptcy laws and procedures. For example, Florida law allows you to exempt (protect) more of your property from liquidation in Chapter 7 than federal law does. Additionally, Florida’s median income levels may affect which chapter of bankruptcy you qualify for.
Meeting of Creditors
In both Chapter 7 and Chapter 13 bankruptcies, you’ll attend a meeting of creditors, also known as a 341 hearing. This is an opportunity for your creditors to ask you questions about your debts and finances under oath. As your Azalea Park FL bankruptcy attorney, Juan Burgos will prepare you for this meeting and accompany you to ensure your rights are protected.
Benefits of Filing Bankruptcy in Azalea Park, FL
- Immediate Relief: As soon as you file for bankruptcy, an automatic stay goes into effect, stopping most collection activities and lawsuits.
- Debt Elimination: Many debts are discharged (eliminated) in bankruptcy, allowing you to start fresh.
- Keeping Property: Depending on the type of bankruptcy and Florida’s exemptions, you may keep most or all of your property.
- Stopping Foreclosure and Repossessions: Bankruptcy can stop foreclosure and repossession proceedings and give you time to catch up on payments.
Why Choose Juan Burgos for Your Azalea Park FL Bankruptcy Case?
- Experience: With years of experience in bankruptcy law, Juan Burgos has the knowledge and skills to navigate even the most complex cases.
- Expertise: Juan Burgos focuses solely on bankruptcy law, providing you with specialized representation tailored to your unique situation.
- Client-Centered Approach: At our firm, we understand that each client’s needs are different. We take the time to listen and provide personalized solutions.
Take Control of Your Finances with Juan Burgos: Azalea Park FL Bankruptcy Attorney
Don’t let debt control your life any longer. Take the first step towards financial freedom by contacting Azalea Park FL bankruptcy attorney, Juan Burgos, today. Our initial consultation is free and confidential.
Personal Bankruptcy
Florida residents can seek personal bankruptcy to cancel their debts and get a second chance. Our team of specialized property law attorneys will guide you through the process and help you determine if bankruptcy is right for you.
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Business Bankruptcy
Business Bankruptcy In Florida, businesses can also file for business bankruptcy (Chapter 11) to reorganize their finances and pay part or all of their debt. Our team of specialized property law attorneys will guide you through the process and help you determine if bankruptcy is right for your business.
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Frequently Asked Questions (FAQs)
What's the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7, often called “liquidation” bankruptcy, aims to wipe out most of your debts by liquidating nonexempt property (if any). In contrast, Chapter 13 involves creating a repayment plan to pay back some or all of your debts over three to five years. While Chapter 7 is typically faster and allows you to keep more property, Chapter 13 may be necessary if you fail the means test or want to protect certain assets.
What happens to my home in Chapter 7 bankruptcy?
In Florida, you can keep your primary residence in Chapter 7 bankruptcy if you are current on mortgage payments and have no other liens or outstanding debts against the property. However, any equity above a certain threshold may be subject to sale by the trustee.
Can I file for Chapter 13 bankruptcy if I am behind on my mortgage payments?
Yes, but it depends on the specific circumstances. If you are struggling to make mortgage payments, filing for Chapter 13 bankruptcy might help you catch up or modify your loan terms.
What is a hardship discharge in Chapter 13 bankruptcy?
A hardship discharge occurs when the debtor is unable to complete their repayment plan due to unforeseen circumstances (e.g., job loss, illness). In this case, some debts may be discharged without further payments.
For more information about personal bankruptcy chapter 7 and 13, I recommend consulting with an attorney who specializes in bankruptcy law. They can provide guidance based on your individual situation and the current laws and regulations.
References:
* U.S. Courts: <https://www.uscourts.gov/>
* Bankruptcy Code: Title 11 of the United States Code
* Florida Statutes: Chapters 220, 221, and 222
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How Bankruptcy Works in Florida
Regain Control of Your Finances with Ease
Results may vary depending on the specific circumstances of each case.
Step #1
Submit Your Case
With a free financial situation evaluation, we can start helping you regain control of your life.
Step #2
We Get Started
Our team begins to investigate and evaluate your financial situation.
Step #3
We Fight for Your Rights
Bankruptcy is a right in the United States. With our help, we present your case to the bankruptcy court.
Practice Areas
At our firm, we are dedicated to fighting for your rights and ensuring you receive fair compensation. Our areas of expertise include personal injury law, including auto accidents, motorcycle accidents, and trucking accidents, as well as personal and business bankruptcy cases.