Are you on the search for a trusted bankruptcy attorney in West Palm Beach? At DebtErasers, our experienced legal team is dedicated to helping you navigate the process of bankruptcy.
Dealing with overwhelming debt can be stressful, but there are effective legal solutions to help you regain control of your finances. If you’re finding it difficult to manage your debts, filing for bankruptcy could be the right choice. Our West Palm Beach law office specializes in comprehensive bankruptcy services, including $0 down Chapter 7 and Chapter 13 filings, to provide you with the debt relief you need.
Understanding The Process Of Filing For Chapter 7 In West Palm Beach
Chapter 7 is one of the most effective and affordable forms of bankruptcy in West Palm Beach. Within three to four months of filing for bankruptcy, the courts can help to discharge your:
- Credit card debt
- Medical debt
- Unsecured personal loans
- Wage garnishment
- Lawsuit liability
In most circumstances, upon filing for a Chapter 7 case, your creditors will no longer be permitted to collect from you or contact you.
What Debts Are Typically Not Discharged By Chapter 7?
- Certain tax responsibilities
- Debts related to fraud, embezzlement, or theft
- Educational loans
- Particular penalties
Who May Not Qualify For Chapter 7?
- Those who have received a Chapter 7 discharge in the past eight years or a Chapter 13 discharge in the past six years
- Anyone who has concealed assets or falsified information in filings
Frequently Asked Questions About Chapter 7 In West Palm Beach
Will I Lose All My Properties If I File For Chapter 7 Bankruptcy?
No. Specific properties are considered exempt and cannot be taken by creditors. A debtor can keep their unmortgaged, exempt properties in a Chapter 7 filing.
When Do I Need To Attend Court In My Chapter 7 Bankruptcy Case?
Usually, within about a month of filing for Chapter 7, there will be a “meeting of creditors” held by the court. The filer is required to attend this meeting. This meeting is held virtually in many states, so you may never be required to set foot in a courtroom physically.
How Long Will My Chapter 7 Bankruptcy Case Last?
Chapter 7 is one of the quickest ways to handle your debts. In most cases, unsecured debts are discharged entirely by the courts within three to four months of filing for bankruptcy in West Palm Beach.
Exploring Chapter 13 Bankruptcy
Chapter 13 bankruptcy is designed for individuals with steady, regular income who need to reorganize their debts into more manageable payments and lower monthly bills. Filing for Chapter 13 allows you to consolidate your debt, lower your total amount owed, and then pay it off slowly and in a more manageable way over the next three to five years, giving you the breathing room you need.
Filing for Chapter 13 bankruptcy can help you:
- Prevent the repossession of your vehicle.
- Steer clear of losing your home to foreclosure.
- Restructure your tax obligations.
- Safeguard important possessions.
Understanding The Key Differences Between Chapter 7 and Chapter 13
When filing for Chapter 7, the debtor loses most of their nonexempt property before having most of their debts discharged. Under Chapter 13, debtors can keep their nonexempt property but must pay off as much of their debts as possible. After that, they are no longer held responsible for their dischargeable debts and are released from all liability. Chapter 13 bankruptcy also allows more kinds of debts to be discharged than under Chapter 7.
What Types Of Debts Can Be Eliminated Through Chapter 13?
Certain debts cannot be discharged, including:
- Debts having to do with alimony, support, or maintenance
- Debts paid in installments whose final payment is due after the completion of all other payments under the plan
- Debts repaid outside of the Chapter 13 plan
- New debts incurred during the time of filing for Chapter 13 bankruptcy that were not included in payments under the plan
- Student loans
- Debts owed as a result of the debtor being unlawfully intoxicated while operating a motor vehicle and causing the death or injury of another
- The debt owed for criminal fines is included in the debtor's conviction of a crime
Frequently Asked Questions About Chapter 13 In West Palm Beach
Do I Have To Pay Off My Debts Under A Chapter 13 Plan Completely?
No. You are not required to pay off all of your debts. Under the Chapter 13 plan, you must pay off certain debts like taxes and other fully secured debts, but only in an amount that you can reasonably afford to pay. The remaining unpaid balances on most debts can be discharged under the completion of the Chapter 13 plan.
Am I Eligible For Chapter 13 Bankruptcy?
You would be considered eligible for Chapter 13 if you:
- Have some sort of regular income
- Have unsecured debts that amount to no more than $336,900 or secured debts that amount to no more than $1,010,650
- Reside, own property, or do business in the United States
- Are not a stock broker or commodity broker
- Have not filed a bankruptcy case that has been dismissed in the last 180 days
How Long Will It Take To Complete My Chapter 13 Plan?
The Chapter 13 plan will last approximately three years but could potentially end earlier if debts can be paid off before that time. However, if a debtor has a valid reason, they can ask the court to extend the plan for up to five years.
How Else Can DebtErasers Bankruptcy Law Firm in West Palm Beach Help You?
Creditor Harassment
Are creditors bothering you unjustly? The Fair Debt Collection Practices Act (FDCPA) safeguards you from creditor harassment, and we can assist by ensuring your creditors comply with the law. Once a third-party debt collector is aware that you have legal representation, they must cease all contact with you.
Real Estate Closing
Are you planning to buy or sell a property? Our team of attorneys guarantees a seamless negotiation process in real estate from start to finish. We are prepared to offer comprehensive legal support to both buyers and sellers throughout the closing process. With the help of DebtErasers attorneys, you can rest assured that your real estate affairs are handled appropriately.
Loan Modification Negotiation
Are you burdened by substantial loans and feeling as though you’ll never escape them? A loan modification might be an option you are unaware of. The aims of a loan modification are twofold: (1) lower your monthly payments to a manageable level and (2) postpone your mortgage arrears to protect your home from foreclosure. To maximize your chances of obtaining a loan modification, we suggest seeking assistance from our skilled and experienced attorneys at DebtErasers.
Meet Your West Palm Beach Attorney
Eugene Feldman
Managing Partner
Eugene is committed to helping individuals in financial distress. He has helped thousands resolve their debt issues. Eugene works with clients from their initial consultation through discharge.
Where Are We Located In West Palm Beach?
You can find our West Palm Beach location on Vista Parkway, right in the center of your local community. At this time, in-person meetings are by appointment only. Make an appointment by giving us a call today!
2054 Vista Pkwy, Suite 400
West Palm Beach, FL 33411
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Contact us: (305) 614-1250
No matter what your debt concerns are, we can assist you. Our West Palm Beach location is ready to answer all of your questions.