Filing for Chapter 7 Bankruptcy is a difficult choice. You’re probably receiving a barrage of phone calls and letters from collection agencies. Your wages may have already been garnished and your home may be in foreclosure. We can help you figure out your best options. Sometimes, in the middle of a storm, the best thing you can do is phone someone you trust for help.
Robert Stiberman is a top rated Chapter 7 lawyer serving in Florida. His law firm, Stiberman Law, is comprised of a team of experienced bankruptcy lawyers with a proven track record of working in the law industry.
We’d like to provide you with real advice based on our experience handling bankruptcy filings. Our Florida Chapter 7 Bankruptcy lawyers know that there are many reasons you may be at this point in your life. Medical expenses, a failed business or other things beyond your control can leave you financially strapped. We’re here to help you turn the page and begin building a better financial future for you and your family.
Robert A. Stiberman. Attorney with over 20 years of experience in bankruptcy law.
If you’re considering Chapter 7 Bankruptcy, you need to speak with a attorney at Stiberman Law. The consultation is completely free.
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Filing for Chapter 7 bankruptcy in Florida is the fastest and cheapest way to get a fresh start on your finances. Borrowers will need to pass a means test – based on your income, the size of your family and your disposable income. This type of bankruptcy filing allows you to protect your exempt assets, which may include your home and your vehicle, as well as your pension. Other non-exempt assets will be liquidated. The proceeds will be used to satisfy your creditors.
Chapter 7 of Title 11 of the United States Code governs the liquidation process under the bankruptcy laws of the United States. That is, CH 7 eliminates the debts you owe. It is not a tool to be used if you simply want to restructure and continue paying your debts.
This chapter of the Bankruptcy Law requires you to liquidate your assets. You will most likely lose your home, among other assets if you file for Chapter 7 bankruptcy. But, you will be able to completely restart, without having to worry about paying past debts.
Some property in Florida is exempted from liquidation during a Chapter 7 bankruptcy. Depending on the value of your home and the debts you owe, you may be able to retain your home. This is why it’s crucial to speak with a Chapter 7 bankruptcy expert. We can walk you through how this type of bankruptcy may be beneficial, as well as provide you with other options based on your specific circumstances.
Chapter 7 Bankruptcy Temporarily Stops the Foreclosure of Your Home
Many people file for Chapter 7 bankruptcy if they’re struggling to cover a house payment. Once you file for this type of bankruptcy, foreclosure proceedings are paused.
You are given a reasonable period of time to find somewhere else to live. And, once your bankruptcy is finalized, you will not need to worry about paying a mortgage you can’t afford.
Many clients come to us because the bank has started foreclosure proceedings on their home. When you file for Chapter 7 bankruptcy, an automatic stay is enacted by the bankruptcy judge. This pauses all collection efforts by your creditors, including foreclosure.
If you are behind on your mortgage, your lender will most likely respond to the notice from the bankruptcy court. They will request permission to restart the foreclosure process. If it is granted, the foreclosure process will restart from the beginning. If it is not granted, the process will restart once your bankruptcy proceedings have concluded.
Chapter 7 bankruptcy is not the best fit for saving a home in foreclosure. It does not discharge past due mortgage payments. But you can take advantage of the delay in foreclosure to find a new place to live.
This is one example, among many, that highlight the advantages of hiring an experienced Chapter 7 bankruptcy attorney. Stiberman Law can help you understand your options and find the best solution to accomplish your goals.
How long will I have to find a new place to live?
Once we file your Chapter 7 bankruptcy, all debt collection efforts will be legally halted. If you owe money on your home, the mortgage company will be notified that you have initiated bankruptcy proceedings.
The lender will request permission from the bankruptcy judge to resume their collection efforts. During this process, any foreclosure on your home is paused. Eventually, the judge will give permission to the mortgage company to restart their collection efforts.
Any pending foreclosure will be closed and a new foreclosure will begin. This process can give you up to a few months of time to find a new place to live. It’s important to use this time responsibly – eventually, you will be required to leave your home. But this process can give you breathing room to get a roof over your head before you are forced to leave.
If you’re considering bankruptcy, contact us. We will take the time to explain your options so that you can make the right choice for you and your family.
Frequently Asked Questions
When you file for Chapter 7 bankruptcy in Florida, all collection efforts are halted. This means that collection agencies will stop calling and you’ll get some breathing room to figure out your next steps.
Your Florida Chapter 7 bankruptcy lawyer will help you list all of your current debts. It’s important to pull a current credit report to ensure you have every debt listed in your filing. If you forget to include a creditor in your filing, the debt you owe them will not be discharged through the bankruptcy.
Your assets are accounted for and divided into two categories: exempt and non-exempt. Exempt assets may include a home, a personal vehicle or a pension. There are specific limits for the value of exempt items. Your bankruptcy attorney will be able to help you identify and account for your exempt assets in your filing.
Your non-exempt assets, if you own any, will be transferred to a trustee. The trustee is responsible for liquidating your non-exempt assets in an effort to satisfy your creditors. In some cases, you may be able to purchase some of your assets back from the trustee as part of a Chapter 7 bankruptcy.
The proceeds from the sale of your non-exempt assets are transferred to your creditors. If you’ve followed all of the steps correctly, you will emerge from Chapter 7 bankruptcy with little to no outstanding debt obligations.
The federal court requires you to pay a filing fee. For a Chapter 7 bankruptcy filing, the fee is $335. This is separate from any attorney’s fees associated with your filing.
One other requirement that the court imposes is the completion of a debt counseling session. We can complete your debt counseling – saving you an additional expense – as part of the process of initiating your case with our law firm.
It is not mandatory, but it is recommended. In other words, you can file Chapter 7 bankruptcy without hiring an attorney, but we do not recommend it.
A Chapter 7 attorney can help you navigate the complexities of filing bankruptcy by advising you on what protections or exemptions may be available to protect your assets. In addition, a bankruptcy attorney will advise you on the requirements for filing the necessary paperwork in accordance with the court's guidelines, helping you avoid dismissal of your case.
Most Bankruptcy chapter 7 attorneys offer an initial free consultation to discuss your situation as well as any fees and costs involved. Since most people seeking bankruptcy assistance are in financial distress, at Stiberman Law our fees are reasonable, we offer payment plans where possible as well as no money down bankruptcies. Chapter 7 Bankruptcy attorney fees in South Florida range from $1000 to $3500 depending on the complexity of the case.
Stiberman Law works hard to keep our costs as low as possible. We understand that this is a financially trying time in your life. In many cases we are able to offer payment plans to help make getting legal help with your Chapter 7 bankruptcy filing more affordable.
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If you need filing for Chapter 7 Bankruptcy, our attorneys can help you.
We offer comprehensive Chapter 7 Bankruptcy services by our experienced attorneys.
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We will provide you with answers to your questions. Our answers are based on the specifics of your situation, and the extensive experience we have handling a variety of bankruptcy cases.
You’ll also receive an explanation of the attorney’s fees we charge when handling a Chapter 7 bankruptcy filing. We do not want to add to your financial burden. We will do everything within our power to find a solution that allows you to begin rebuilding your financial future.
Meet Robert Stiberman
The South Florida law firm of Stiberman Law, provides legal representation and counsel in matters of Chapter 7 Bankruptcy.
Speaking to our law firm is always 100% confidential. We do our best to respond to inquiries in under 24 hours.
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