Bankruptcy Lawyer in Davie
Michael B. Manes, P.A. are trusted bankruptcy law experts providing affordable financial relief solutions to couples, businesses, families and people all over Davie. We work closely with you to help you fully understand all of your options, based on your current financial standings. When you feel like you are collapsing under the pressure of mounting debts, we’re here to take the reigns and put the control back in your hands.
Are You Eligible for Bankruptcy Exemptions?
Bankruptcy exemptions protect assets like your house, automobiles, clothing and personal effects that contribute to a productive lifestyle. State bankruptcy exemptions vary by state, and while federal exemptions don’t change, they are only an acceptable option in some states. Some examples of the most commonly requested bankruptcy exemptions are:
- Homestead exemption—protects your home up to a certain value
- Property deemed personal—cars, clothes, jewelry
- Wild card—assigns an additional exempt value to assets you can use to access a healthy lifestyle, like your house
- Medical and support—applies to child and spousal support and other necessary health and care measures
How Does Discharged Bankruptcy Work?
The length of time it will take to complete the discharged bankruptcy process depends on the number of applications you have made in the past, and which type you intend to file for now. Typically, Chapter 7 bankruptcies take four months to discharge, while Chapter 13 can take between three and five years. This period depends on the repayment schedule we have assisted you in negotiating.
What is Federal Bankruptcy Law?
Federal bankruptcy law protects citizens and companies from the perils of living out the rest of your life burdened by debt you will never be able to pay off in your entire lifetime. All declarations of bankruptcy and court proceedings are regulated by federal bankruptcy law, although state rules apply to exemptions and asset determinations.
The Most Recommended Local Bankruptcy Attorney
Making the decision to hire a licensed local bankruptcy attorney can mean the difference between favorable results and total chaos. A good local bankruptcy attorney will expedite the application process for you by giving you step by step instructions on how to fill out paperwork, navigating the bankruptcy court process and planning for the future.
Types of Debt Chapter 7 Bankruptcy Covers
Are you trying to decide if Chapter 7 bankruptcy is a smart move for you, a loved one or your company? Year after year, our seasoned trustees have experience working on hundreds of successful applications and resolutions. We’ll provide you will the full scope of information you need, including, “the means test”, to make the best decision for your unique situation. Here is a list of types of debts Chapter 7 bankruptcy eliminates.
- Credit cards
- Personal loans
- Medical bills
- Attorney fees
- Utility bills
- Some business loans
- …and more
Chapter 13 Bankruptcy Requirements
Beginning the Chapter 13 bankruptcy process in Davie stops creditors from preying on you but is a longer process. It is commonly referred to as debt reorganization, with many benefits to you and your business or family. Chapter 13 bankruptcy can stop foreclosure on your home, allowing you a three- to five-year period to repay the remaining debt incurred. To be eligible for Chapter 13 bankruptcy you must be able to provide proof of your income, with documentation. In most cases, your income must be reliable and above the median average in your state.
Don’t let debt rule your life for any longer. Call Davie’s leaders in bankruptcy law today.