Broward County Florida Bankruptcy Lawyer Robert D. Schwartz

Broward County Florida Bankruptcy Lawyer

Florida Chapter 7 Bankruptcy

Filing Chapter 7 bankruptcy allows you to obtain a discharge of debts such as credit card bills, lawsuit judgments, payday loans and hospital bills.

Under the new bankruptcy laws, you must first pass a means test to file Chapter 7 bankruptcy. If your current monthly income is below the Florida adjusted median income, you can file Chapter 7 bankruptcy. However, even if your income is above the Florida adjusted median income, you may still be able to file after expenses such as car payments and retirement plan contributions are deducted from your income. Our lawyers have helped many people file Chapter 7 bankruptcy.

If you don't qualify for Chapter 7 bankruptcy, you may still be able to obtain the debt relief you need by filing Chapter 13 bankruptcy.

There are certain debts that cannot be discharged by bankruptcy, including child support, taxes and debts that are secured by property, such as your home and your car. However, you can keep these assets by making payments and filing a reaffirmation agreement with the court.

Will I lose any assets by filing Chapter 7 bankruptcy?

Chapter 7 is sometimes referred to as "liquidation" bankruptcy because the bankruptcy trustee can seize assets to pay your debts. However, certain property is exempt from seizure in Florida. Exempt property includes all equity in your home, up to $1,000 of equity in your car, and up to $1,000 in other personal property ($4,000 if you do not claim the Florida homestead exemption).

Florida Chapter 13 Bankruptcy

Chapter 13 bankruptcy is a debt repayment plan. When you file for Chapter 13 bankruptcy, you and your lawyer create a plan to pay off a percentage of your debts over a three- to five-year period. Our firm currently does not file Chapter 13 Bankruptcies, but can refer you to another firm that handles such filings.

Also servicing surrounding counties including Broward, Palm Beach, Martin and St. Lucie.

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