Bankruptcy Law | Modification | Chapter 11 | Chapter 13 | Chapter 7 | Florida Bankruptcy Attorney

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The answers to your bankruptcy questions begin here

If you arrived at this website chances are that you or someone close to you is considering filing for bankruptcy. Getting to this point is usually a very stressful journey. One that makes you question yourself and the many events that lead to this point. In considering filing for bankruptcy individuals go through an array of emotions. You also have questions as to what will happen and the consequences of such decisions. You've come to the right place. At the Arreaza law firm. Mr. Arreaza and his staff will go through this process with you. Answering your questions and helping to the goal of getting a new start. Let our experience and knowledge work for you.

THE PROCESS

The bankruptcy process begins with the attorney client interview. When deciding whether to file for bankruptcy you will have many questions. The most important thing that I believe you should do at this point is to set up an interview with a licensed attorney. There are many people out their which will tell you that you could do this this without a lawyer and that it could be much cheaper for you if you do. Be very careful with these people they will not be able to represent you in court if something does go wrong. They are not held responsible for any of their actions because they are not members of any bar. The governing body for attorneys. So before you deal with these people ask yourself can they be held accountable if they don't act correctly. So my advise to you is to hire a licensed attorney, they can be held accountable for their actions. Once you decide on the attorney you are going to hire you will go through an information gathering meeting.

GATHERING THE RELEVENT INFORMATION

The information gathering information is probably the most important part. It will determine the answers to the questions you will have for your attorney. It should go without saying that you should not leave any information out. Before gong to this interview you should write down an inventory of all your assets. This means all personal and real property that you own out right. This means all real estate, stocks bonds, money in safety deposit box or boxes furniture, any money you may have coming such as tax returns. Anything and everything you think may be worth anything. You then must prepare a list of all your liabilities. This includes but is not limited to your credit cards, mortgages on home or homes, car loans, judgements, hospital bills, other bills in collections and anyone else that you owe money to. You will be taking a copy of both these lists to your lawyer in order to begin process. To make sure you have all your liabilities listed you should order a credit report.

With all the above information you and the attorney will make a decision on what route to take. This means deciding if there are any alternatives other then bankruptcy. It is important that you and your attorney are clear as to what you are being represented for. Sometimes there is confusion and it could create a problem between you two. So make sure contract is clear. The next thing to decide is why are you filing bankruptcy. If its to relieve you of all those credit cards, judgments and other unsecured debts then you will probably be going for a chapter 7.

CHAPTER 7 BANKRUPTCY

This is probably the most popular of all the bankruptcies. The individual will be relieved of paying most of their unsecured bills, judgments and unsecured debt. The problem that most people is that they will be required to give up many of their assets except for the ones that fall under the exempt category. Many of these assets will be sold to pay some of the outstanding debt. This bankruptcy is pretty straight forward. And it will give you the fresh start you want. It is important that you go through this one with your lawyer if this is what you want. There are many misunderstanding that could occur so make sure everything is clear. Once you file for this one you will be set for a 341 creditors meeting that will be held before the trustee assigned to you. At this point you and your lawyer will have everything in order or you will be given an opportunity to fix any mistakes and come back at a future date. I give you the same advise as I did at the beginning. This is a tricky process so you should hire a lawyer. If you can't afford a lawyer there are charitable organizations and self help books but whatever road you choose be careful hiring non lawyers. Thel next bankruptcy we will be speaking of is a chapter 13.

CHAPTER 13 BANKRUPTCY

A chapter 13 bankruptcy is a bankruptcy in which the debtor will enter into a payment plan to pay back their debts. It will be for a term of either 3 or 5 years. This is the bankruptcy that is usually used to save a persons home from going into foreclosure and having the bank take back the property. The person will be given an opportunity to pay back the amount of mortgage payments the person fell behind on. In certain situations the person can request that the second mortgage be stripped. This can occur when a second mortgage exceeds the actual value of the home in foreclosure. Things like stripping the second mortgage and filing for a chapter 13 should definitely be done with the assistance of a lawyer. Trying this one by yourself could end up being more expensive.

Filing for bankruptcy can be difficult in many ways. The Arreaza law firm understands this. This is why we have developed this website. It is done in a manner that a person could ask questions so that an individual can make informed decision. So don't go at it alone. Let our experience and knowledge work for you.