If your debt is unmanageable, our Miami Bankruptcy Lawyer can recommend financial options that are right for you, including bankruptcy. Bankruptcy laws allow people in your situation to file for Chapter 7 or Chapter 13 bankruptcy in conjunction with other debt-relief options, such as student loan litigation and consolidation.
All hope for financial control is not lost when you reach out for bankruptcy help. Miceli Law, P.A. will thoroughly review your financial situation and provide a personalized legal strategy that meets your short- and long-term goals.
Get in contact with Miceli Law, P.A. for a free consultation now at (305) 515-5928. You are also welcome to submit a completely confidential message about your financial situation here.
Miceli Law, P.A. Offers Personalized Financial Solutions
When dealing with overwhelming debt, you have legal options as several types of bankruptcy are available to individuals. A Miami Bankruptcy Lawyer will help you enter and receive a discharge of your debts in a Chapter 7 or Chapter 13 bankruptcy. While student loan debt is generally not dischargeable through these avenues, Miceli Law, P.A. can provide litigation and consolidation services to address those, too.
Chapter 7 Bankruptcy in Miami
A Chapter 7 bankruptcy permits you to discharge a significant portion of your unsecured credit card debt while allowing you to keep some or most of your assets. Qualifying for Chapter 7 requires you to pass a straightforward bankruptcy means test.
Passing the means test is as simple as having a total household income lower than the median for your household size. Higher earning families may struggle with this aspect even though they are still facing tremendous financial stress. If you do not initially pass the Chapter 7 means test, our Miami Bankruptcy Lawyer will help you look for opportunities, where available, so that you can.
Chapter 13 Bankruptcy in Miami
Chapter 13 bankruptcy proceedings are for those who do not qualify for Chapter 7 or are attempting to save their home. Under Chapter 13, you still pay back some or all of your debts. However, you also receive the benefit of financial relief while keeping your assets, like your home and car.
Essentially, Chapter 13 is a debt reorganization that requires you to make regular payments, often only a small percentage of the unsecured debts that are owed. After a three-to-five-year period, your general unsecured debts will be discharged upon completing your chapter 13 plan.