Assisting debtors with bankruptcy filings in Miami, FL and throughout Miami-Dade County and South Florida.
The decision to file for bankruptcy is often one of the hardest choices that a person has to make in their lifetime. Poor planning can often make the process even harder.
It goes without saying that filing for bankruptcy should be a last resort, and should only be done when all other methods of satisfying one’s financial obligations have been exhausted. However, if your situation has become so severe that you are in danger of foreclosure, garnished wages or repossessions, or are facing debts that you are in no position to pay, putting off the inevitable can have devastating consequences. Procrastination can cost you your car, your wages, and even your home. Filing your case in a timely fashion can spare you these losses.
- If you are close to foreclosure on your home, declaring bankruptcy may stop this going forward and even create a payment structure that will help you pay off your arrears.
- Bankruptcy may cause your car or other property to be given back to you if they have been repossessed by a creditor.
- Large medical bills combined with a loss of employment, or on their own can create a nearly impossible financial hole to climb out of. Bankruptcy can help you in this situation and possibly reduce or even wipe away your medical bills.
- Bankruptcy can stop harassing creditors from turning up on your doorstep, especially if they are being unfairly pushy or unreasonable or are fraudulently trying to take more than you owe.
- If your utilities have been shut off, bankruptcy will help restore these so you do not have to live in darkness.
- Although your student loans will not disappear, bankruptcy may help you to consolidate those debts and pay them off in a reasonable timeframe.
- Bankruptcy will end wage garnishment, which means you will be able to afford life’s necessities.
You may have more than one of these issues overlapping in your life and bankruptcy may be the best and most logical way to start your financial life over.
The New Bankruptcy Law
Florida bankruptcy law is a constantly evolving area. This is particularly true following the passage of The Bankruptcy Abuse and Consumer Protection Act of 2005 on October 17, 2005. The BAPCPA is a controversial revision of the United States Bankruptcy Code which, among other things, makes the process of filing for chapter 7 bankruptcy more difficult. Backed by conservatives and the financial institutions, supporters of the BAPCPA consider it a means of curbing abuses of bankruptcy law and promotes personal financial responsibility. Opponents of the act consider the law an unfair penalization of people whose poor finances are due to forces beyond their control.
At the bankruptcy law offices of David F. Anderson, P.A., we are dedicated to assisting our clients with the debt relief they deserve through bankruptcy or other means. We have a thorough knowledge of the new bankruptcy laws, and can help you understand your options.
Under the new bankruptcy law:
- Credit Counseling Is Mandatory For Those Seeking to File for Bankruptcy
- A Smaller Number of People Are Eligible to File Under Chapter 7
- If Ineligible for Chapter 7, Consumers May Still File for Chapter 13
- More of Your Personal Property Is at Stake
- Exemption from New Bankruptcy Rules Provided Only in “Special Circumstances”
If you are looking to eliminate your debt, you will be required to take a preliminary credit counseling provided by a government-approved program a number of months before filing for bankruptcy. Beyond that, the BAPCPA has set up significant hurdles in filing for Chapter 7 bankruptcy. The attorneys of David F. Anderson, P.A. are prepared to help navigate through these hurdles, helping you explore the options that best suit your particular situation, and locating flexibilities within the law that can work in your favor.