We’re a Fort Lauderdale Bankruptcy law firm with the experience and compassion to help. Through Bankruptcy, our law firm has helped many clients in the Fort Lauderdale area discharge their unsecured debts. For example, a Fort Lauderdale client who spent many years battling a medical condition and as a result incurred thousands of dollars in medical and hospital bills, was able to eliminate roughly $65K of debt through a Bankruptcy. Our law firm helped this client get rid of the burden of all of her unsecured debt so she could focus on her health. Additionally, she was able to also eliminate her credit card debts and debts arising from returned Leases. Call (954) 922-2283 to Schedule a Free Consultation.
Bankruptcy is a legal process to eliminate debt and get a Fresh Start. Chapter 7 and Chapter 13 are the most common types of Bankruptcy. Chapter 11, commonly confused with Chapter 13 is for businesses or very high net worth individuals. This page will explore bankruptcy in detail.
Robert Stiberman is a highly regarded Fort Lauderdale Bankruptcy lawyer with a passion for helping people. Robert is well known in the bankruptcy community and has the experience and knowledge to handle your case.
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Bankruptcy can stop lawsuits, wage garnishments, and collections calls. Bankruptcy can eliminate most debts such as medical bills, credit card debt, personal loans, and debts from repossessions.
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Chapter 7 is the most common type of Bankruptcy filed in the US. It takes on average 90 days from start to finish. It's also known as the liquidation bankruptcy because a Trustee seeks to liquidate your non-exempt assets to pay your creditors and discharge your debt.
Bankruptcy involves selling all of your non-exempt assets and using the proceeds to eliminate your debts.
Chapter 11 Bankruptcy
in Fort Lauderdale, Fl
Chapter 11 bankruptcy is most often used by corporations to restructure their debts, but individuals can file for Chapter 11 as well.
Chapter 13 Bankruptcy
in Fort Lauderdale, Fl
Chapter 13 bankruptcy allows you to make payments on your debt based on your income.
Individuals who reside or have property in the United States can file for bankruptcy. Chapter 7 is intended for individuals who cannot repay their debts. To this end, Congress enacted a test to determine eligibility based on household income and household size. This analysis is called the means test. If your income is less than the median household for a household your size in Florida, then you automatically pass the means test and qualify to file for Chapter 7 in Florida.
If your income exceeds the median household income for a household of your size there is presumption of abuse. However, you may still qualify by inputting your income and allowable expense into a means test formula. This a complicated where an experienced attorney can guide you.
Most debts can be discharged in a Chapter 7. A discharge is a legal term that removes the filer's responsibility from those debts. Debts that can be discharged in a Chapter 7 include credit card debt, medical bills, personal loans, deficiency judgments, collection costs, and debts resulting from vehicle repossessions or returned lease.
• Certain types of taxes, custom duties, or debts to pay taxes or custom duties.
• Student loans.
• Debts owed for spousal or child support.
• Debts owed to the spouse, former spouse, or child in a domestic relations proceeding.
• Debts arising from a previous bankruptcy wherein discharge of that particular debt was waived.
• Debts owed for money, property, services, extension or removal, or refinancing of credit, if obtained by false pretenses, or false representations, or actual fraud.
• Consumer debts for luxury goods obtained within ninety (90) days of the date of filing of the bankruptcy petition.
• Cash advances obtained within seventy (70) days of the date of the filing of the bankruptcy petition.
• Debts owed for fraud or defalcation while acting in a fiduciary capacity, or embezzlement or larceny.
You are required to list all you assets and all your debts when filing Bankruptcy. The bankruptcy trustee appointed to administer your case will look at your assets to see if they can be liquidated or sold to repay your debts. Florida law will determine which assets are exempt or which you can protect, for those who have resided in Florida for the majority of the three years prior to filing Bankruptcy. Florida has some of the strongest exemptions such as the homestead exemption which protects your homestead. There's also a $1000 vehicle exemption that can be applied to one vehicle. An experienced bankruptcy attorney in your Fort Lauderdale area can review your information and discuss exemptions in detail.
A Bankruptcy Trustee has the right to liquidate non-exempt assets to repay your creditors. If you do not want the Trustee to liquidate your assets, you may have the option of paying to the Trustee the non-exempt portion of the asset. Sometimes but not always, the Trustee may allow you to repay the non-exempt amount in installments or through some payment arrangement.
Unsecured creditors get paid from the liquidation proceeds of non-exempt assets. Most Chapter 7 bankruptcy have little or no assets so in most cases, the creditors receive little or nothing.
In most cases the Chapter 7 process takes about 90 days from the date you file to the date you obtain your discharge. Approximately 30 days after your Bankruptcy case is filed you are required to attend a Meeting of Creditors. Approximately, 60 days thereafter most filers receive a Discharge. So in essence, the process takes about 90 days from start to finish.
Chapter 7 doesn't provide much help with secured debts such as car loans or home mortgages. This means that people must remain current with their mortgage if they want to keep their home while in a Chapter 7. Chapter 7 is not the best option for people who are behind on their mortgages or car loans and want to keep them.
Chapter 13 Bankruptcy is a reorganization bankruptcy or sometimes referred to as a debt repayment bankruptcy. It is generally a good fit for people behind on the their mortgages or car loans and are looking to get current. Chapter 13 involves presenting a 3 or 5 year plan to the court where you will be making Chapter 13 plan payments based on your disposable income.
Why Choose Stiberman Law?
Bottom line - We know what we are doing. We have been representing clients for more than a decade and are familiar with each court and its requirements.
Stiberman Law Firm
From our office in 110 E Broward Blvd, Suite 1700, Fort Lauderdale (Florida, 33301), we represent clients in Fort Lauderdale and the surrounding area.
Stiberman Law's Fort Lauderdale location is located in the Heart of downtown Ft. Lauderdale Stiberman Law's Fort Lauderdale location - within minutes of the Museum of Discovery and Science.
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Meet Robert Stiberman
"Making a positive impact on my clients is a great feeling". I opened Stiberman Law in 2007 right when the foreclosure crisis was hitting South Florida. We have helped countless clients eliminate debt and regain financial freedom. We are one of the premier firms serving Fort Lauderdale and the surrounding communities.
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