Chapter 7 & Chapter 13 in Miami, Florida

When financial problems hit and hit hard, it's difficult to even think straight let alone function properly to make the decisions that need to be made. Most people struggling with everyday bills are only focused on surviving that day and forget to stop to create a solution for themselves. If you find yourself under that kind of strain constantly, it may be time to evaluate if filing for a Miami Florida bankruptcy is the right decision for you and your family. It's true that the bankruptcy laws for the Chapter 7 and Chapter 13 plans have changed in recent years, but they are still there to help struggling people find a way out of debt and back in the clear. Continuing to rob Peter to pay Paul is going to backfire in a huge way at some point. Even if a Miami bankruptcy is not what you wanted, it may be just the thing to save your financial future.

• Chapter 7
• Chapter 13
• finding a good Miami based bankruptcy attorney

Under the Miami Florida bankruptcy laws, a Chapter 7 bankruptcy plan is a form of asset liquidation. When filing and being approved for this type of bankruptcy you can expect to have most if not all of your assets sold off to cover your credit debts. This could include your home, your car, and your business if you have one. The downside to a Chapter 7 bankruptcy is that you are likely to lose everything; on the other hand, you will be given a truly fresh start. Your bankruptcy attorney can help you make the right decision for your circumstances and let you know if you even qualify for a Miami, Florida bankruptcy Chapter 7.

Another option your Miami based bankruptcy lawyer will be able to give you is with the Chapter 13 bankruptcy plan. This one is a reorganization of your existing bills. In most cases, under Florida law, you will be left with some of your assets as this is more like a consolidation loan as opposed to a bankruptcy. On the downside, you still have to pay some or all of the owed money back. On the upside you will keep your home and other assets and no longer have to worry about harassing creditors and phone calls. Once again, your attorney will be able to guide you through the Florida bankruptcy laws.

Both Chapter 7 and Chapter 13 of the Florida bankruptcy laws are there to provide a hand up. Each case is different and only you and your bankruptcy lawyer will know the best way for you to go.