Finding a reliable bankruptcy attorney in Miami can be a crucial step toward resolving financial difficulties. Our team understands the specific challenges that residents of Miami-Dade face and offers personalized assistance to guide you through the bankruptcy process. We offer a free consultation to evaluate your situation and provide clear, actionable advice.
Our attorneys are highly experienced in handling various types of bankruptcy cases, including Chapter 7 and Chapter 13. During your consultation, we will assess your financial circumstances and discuss the best options for you. This helps us tailor our services to meet your unique needs effectively.
Choosing the right attorney is vital for a smooth bankruptcy process. We pride ourselves on our professional, empathetic approach and are committed to helping you regain financial stability. Contact us today to schedule your free consultation and take the first step towards a fresh financial start. Learn more about bankruptcy law firm Miami
Understanding Bankruptcy in Miami
Navigating bankruptcy in Miami requires in-depth knowledge of various bankruptcy laws, the bankruptcy process, and the impact on property and real estate. Let’s explore these critical aspects closely.
Different Chapters of Bankruptcy
In Miami, bankruptcies are commonly filed under Chapter 7, Chapter 13, and Chapter 11. Chapter 7 involves liquidation of non-exempt assets to pay off creditors, offering a fresh start. Chapter 13 allows for debt reorganization, letting the debtor repay creditors over three to five years. Chapter 11, often for businesses, entails restructuring debts and maintaining business operations.
Each chapter serves different needs. Chapter 7 is suitable for those with insufficient income to cover their debts. Chapter 13 is ideal for individuals with a regular income. Chapter 11 caters primarily to businesses in South Florida seeking to restructure without closing.
The Bankruptcy Process
The bankruptcy process in Dade County, Broward, and Monroe County begins with filing a petition. An Automatic Stay goes into effect immediately, halting creditors’ collection activities, including foreclosure.
Debtors must provide detailed financial information, including assets, liabilities, income, and expenses. A trustee is appointed to oversee the case. In Chapter 7, the trustee liquidates non-exempt assets. For Chapter 13, the trustee reviews and approves the repayment plan.
Creditors can file claims against the debtor’s case. The debtor might attend a 341 meeting where creditors can question the debtor about their financial status. The court will ultimately discharge debts under Chapter 7 or approve a repayment plan under Chapter 13.
Property and Real Estate in Bankruptcy
Property and real estate are significant concerns in Miami bankruptcy cases. Exemptions under state law determine what property a debtor can retain. Florida has a generous homestead exemption, allowing debtors to keep their primary residence. There are also exemptions for personal property and wages, critical for protecting essential assets.
Foreclosure Defense plays a vital role. The Automatic Stay temporarily stops foreclosure proceedings, offering individuals time to negotiate with lenders or explore other options. In Chapter 13, debtors can catch up on mortgage payments through their repayment plan.
For businesses, Chapter 11 may involve restructuring property leases or commercial real estate obligations to stabilize ongoing operations while settling debts.
Legal Support Beyond Bankruptcy
In addition to bankruptcy, we offer comprehensive legal support across various fields to help you manage associated complications. Our expertise extends to family law, tax-related issues, and protecting clients from creditor harassment.
Family Law and Divorce Considerations
Navigating family law matters while dealing with bankruptcy can be complex. We assist clients in managing the intersection of divorce and financial distress. Our services include assessing how debts and assets are divided during divorce and strategizing to ensure equitable outcomes. Personal injury claims or medical debt might also impact your financial future, and we provide tailored advice to handle these effectively.
Dealing with Tax-Related Issues
Our team is equipped to handle numerous tax-related concerns. From addressing IRS audits to managing tax-motivated bankruptcy cases, we ensure compliance and seek optimal resolutions. Whether it’s establishing an IRS payment plan, contesting tax liens, or navigating tax court litigation, we support clients through all aspects. Our experience includes working with reputable attorneys like Magda Abdo-Gomez and Timothy S. Kingcade to resolve intricate tax controversies.
Defending Against Creditors and Harassment
Clients often face persistent harassment from creditors. We offer robust defense strategies to protect you from unjust practices. Our services include addressing wage garnishment and levies, handling medical and credit card debts, and ensuring your rights are upheld. We also represent clients in civil litigation to challenge unlawful creditor actions, providing comprehensive debt relief and defending against undue pressures.