Let`s talk about credit changes and also confirm the existing secured debt. If you`re feeling overwhelmed by the increase in debt, we can help. In addition to your senior payment plan, you also need to settle your secured debt. These are debts secured by collateral such as your mortgage or car loan. To qualify for Chapter 7 bankruptcy, you must pass the “resources test”. This test is designed to prevent high-income individuals from filing a return that can pay off their debts. Unsecured debt is not secured. These include credit cards and medical debt. Borrowers chose Chapter 13 bankruptcy to try to hold certain assets. Often, these are things they would otherwise lose if they filed for Chapter 7 bankruptcy. SunCoast Law`s bankruptcy lawyers can help you resolve your Chapter 7 or Chapter 13 bankruptcy issue.
As experienced insolvency lawyers, we understand the endless cycle of financial problems. Any disposable income remaining after the first debt is paid repays the unsecured debt. Any secured debts you have will also help with repayments. Our mission is to immediately end creditor harassment and debt collection activities. We help with insolvency and insolvency applications. Automated page speed optimizations for fast website performance However, if you have already filed for Chapter 13 bankruptcy, you will have to wait two years before you can file again. Chapter 13 will only help you if you commit to paying off all your debts. If you follow the 3-5 year debt repayment plan, you can get debt relief (even if some are still unpaid). We will also talk about the qualities you can lose or keep in chapter 7 by choosing chapter 13. If you have a lot of mortgages on your home, there are tools you can use to make mortgage changes.
Chapter 13 bankruptcy is also known as repayment insolvency, which is opposed to Chapter 7. We help you arrange payment plans and pave the way for bankruptcy relief. Sun Coast Law has bankruptcy lawyers in Central Florida. We want to free you from financial stress and find the best solution for your individual situation. During the “automatic stay”, creditors are not allowed to comply: another advantage of filing the US Chapter 7 bankruptcy invoice is the “automatic suspension”. To qualify for Chapter 13 bankruptcy, you must provide proof of disposable income. That is what the trustees and the court want. Find out if you can pay off some debts in full. Our team will tell you how not to lose your home or car during your bankruptcy.
We will review both exempt and non-exempt items. Whether you are married or single, our legal team will explore your options. We will share the advantages and disadvantages of each possibility of insolvency. If you`re not sure which bankruptcy option is right for you, talk to one of our lawyers. To better understand your insolvency options and rights, contact us today Similar processes exist for auto loans. The stay is an injunction against creditors and debt collection agencies. Instruction to them to immediately cease all collection efforts. Our law firm is one of the largest in the country to provide debt relief. Contact one of our lawyers for a free initial consultation. Let us check whether an individual or collective insolvency is best suited to your needs.
Sun Coast Law attorneys can interpret Florida`s exceptions, chapters 13 and 7 for you. Together, we can determine which ones you are a part of and what the next steps are. During this period, you must make monthly payments to the trustee. They distribute these payments to creditors based on their priority status. Get to know your insolvency decisions through us. You need to forge a foreclosure defense and learn how to keep your property in the process. The purpose of filing for Chapter 7 bankruptcy is to obtain an “exemption” from debt through bankruptcy courts. If this is granted to you, you will no longer be responsible for these debts. If you are extremely indebted or threatened with repossession, filing for bankruptcy will end all proceedings.
We can prepare you for bankruptcy and all that goes with it. Sun Coast Law gives you a clear understanding of each insolvency option. Sun Coast Law can help you with legal issues. We can help you declare bankruptcy in the following areas of activity: With Sun Coast Law lawyers, you can feel safe and comfortable. We will work hard and long hours to get you back on the path to financial well-being. Choose our insolvency lawyers as the legal representative for the insolvency court. If you earn more and have disposable income, the money will be used to pay off your debt. You don`t have to feel discouraged or frustrated with your finances. Let us help you find the right solutions for you.
Let us familiarize you with the entire insolvency process. We can improve your financial situation. Consumer bankruptcy often consists of medical and credit card bills. Our lawyers will explain the details of Chapter 7 bankruptcy filings. Chapter 13 bankruptcy is about using your assets to pay off your debts. Although Chapter 7 is bankruptcy, you can liquidate all your debts and use collateral. If your junior mortgage is no longer secured by the value of the home, choose “Dismemberment of Home Lien.” This removes one or more subordinated mortgages. The test helps determine if your income is above Florida`s “median income.” If you do not earn more than the median, you can file for Chapter 7 bankruptcy. You can choose to pay off the full amount you owe or pay off a large portion of your debt over 3 to 5 years. SunCoast Law can help you in all your decisions. Is your property in foreclosure? We can discuss your options and come up with a plan just for you. Some consumer debts are excusable, meaning they cannot be “paid off” through bankruptcy.
If you do not qualify for Chapter 7 bankruptcy, you have another option. You can apply for Chapter 13 instead. However, before you can apply, you must get credit counselling from an approved agency. You must also commit to making regular payments on payment arrears. Changing the home loan is a great option for people who are struggling to make their mortgage payments. When you visit our firm, we will review your insolvency case and discuss methods for a fresh start. If you qualify for Chapter 7 bankruptcy, a trustee will collect all of your non-exempt assets. You will sell them to pay your debtors and lawyers.