Our Wesley Chapel bankruptcy lawyer can provide debt relief for families and individuals with a Chapter 7 or 13 bankruptcy. Our affordable lawyers provide bankruptcy services in Wesley Chapel Florida on a daily basis and deal with the governing Federal Bankruptcy law that is designed to reduce economic stress on people seeking bankruptcy protection.
Our affordable attorneys offer reduced legal fees for bankruptcy without sacrificing quality representation. Our attorneys understand bankruptcy law and provide bankruptcy services for residents residing throughout the middle district of Florida on a daily basis. If you are faced with financial burdens and considering bankruptcy as an option it is best to seek up to date legal advice since bankruptcy laws are subject to change periodically.
Chapter 7 Bankruptcy | Wesley Chapel
Chapter 7 bankruptcy is many times referred to as liquidation or a straight bankruptcy. It allows secured and unsecured debt to be canceled out, eliminating financial burdens for those that do not have the ability to repay their creditors in exchange for nonexempt property.
Our affordable bankruptcy attorney will use careful preparation to determine what bankruptcy exemptions you will be eligible to take to during a chapter 7 bankruptcy, but in order qualify for Florida exemptions, you must have lived here as a resident for at least 24 months prior to filing bankruptcy. It is possible to save your home and still file a chapter 7 bankruptcy however, you must not be behind on your mortgage payments.
Homestead exemptions in Florida can help protect the equity in your home. Florida’s homestead exemption is one of the best verse any other state and it allows primary residents to exempt and unlimited amount of equity in their home. There are a few exemptions to the rules, the property cannot exceed more than ½ acre in a metropolitan area or 160 acres outside of a multiplicity. The property must be your primary residence either a house or mobile home you live in. The Homestead exemption is a valuable asset that can help protect you.
Keep in mind, if you have fallen behind on your mortgage payments and wish to keep your home a chapter 7 bankruptcy will most likely not be a good option for you. Our Affordable Bankruptcy Lawyer can help find the best recourse helping you make the correct bankruptcy decisions.
How long will a Chapter 7 bankruptcy take to be discharged?
Roughly 30 days after a bankruptcy is filed, you will attend a 341 Meeting with your Bankruptcy Lawyer. You will be questioned by a bankruptcy trustee who was appointed to your case. The trustee will ask you questions under oath about or to verify the information you supplied. It is a bankruptcy trustee’s responsibility to make sure creditor’s rights are protected. Creditors or their attorneys rarely attend 341 meetings, just in case they do, having your attorney present is in your best interest.
After the 341 meeting, creditors have an objection period of 60 days to file an objection to your Bankruptcy Discharge. If there are no objections by your creditors the discharge is granted.
What type of debts are not dischargeable with Chapter 7
Child support, HOA fees, tax obligations, alimony, court fines and penalties, government agencies for fines and penalties. Student loans are also not dischargeable unless you can prove repayment will cause and undue burden.
Chapter 13 Bankruptcy | Wesley Chapel
Chapter 13 bankruptcy can decrease a debtors obligations. A Chapter 13 Bankruptcy is a proposed plan to repay all or a portion of your debt. The time period is spread out over a three to five and can help a person catch up on past due mortgage payments and other secured debt obligations. Our bankruptcy lawyer can explain all the various details about filing a bankruptcy of this type.
Our affordable Wesley Chapel Bankruptcy attorney offers reduced legal fees for Chapter 7 and chapter 13 bankruptcy.