A Bankruptcy Law Firm With Proven Success
Attorney Carolyn Secor is a very experienced and knowledgeable bankruptcy attorney. Bankruptcy is a FEDERAL DEBT ASSISTANCE PROGRAM to help those that can no longer meet their financial obligations. Bankruptcy Law sets strict rules for debt repayment and debt discharge that all creditors must accept. Louis Erickson has handled hundreds of Chapter 7 (liquidation) and Chapter 13 (personal reorganization) bankruptcies. He helps you choose which will work best for you. At your initial meeting (there is no charge) he will assess your financial situation to determine if Bankruptcy is best for you. If so, he will schedule a follow-up meeting to begin the process of completing your Bankruptcy Petition. Most cases are filed in approximately one month. Bankruptcy clients get immediate relief upon the filing of their Petition.
Eligibility and Qualifications for Chapter 7
Chapter 7 is the “liquidation bankruptcy” that eliminates all credit card, medical bills and other unsecured debt. Due to Florida’s generous exemption laws, most Chapter 7 clients are able to keep all their property, including their home, cars and furniture. Chapter 13: A Chapter 13 Bankruptcy allows the client to reorganize his or her financial situation by entering into a 3 or 5 year “Plan” wherein you pay to the Bankruptcy Court Trustee a monthly amount to be paid pro-rata to your creditors. It usually significantly reduces your monthly payment obligation and eliminates all unsecured debt upon completion of your plan. Chapter 13 also allows you to stop or prevent home foreclosures and car repossessions so long as you can begin making the regular monthly payments. Your back payments are spread over the course of your plan.
The federal government passed new bankruptcy reform legislation in October 2005. However, don’t be discouraged! Most studies indicate that the new law affects less than 15% of individuals who could have filed previously. If you are feeling overwhelmed by your debts and considering filing bankruptcy, it is highly probable that you fall into the category of the 85 percent of people who are still eligible to file.