BANKRUPTCY

On October 17, 2005, the Bankruptcy law was significantly modified. Now, if the household income is above the state median income, you must take a test to determine if you can file a chapter 7 and how much you have to pay back if you must file a chapter 13.
This change along with many others has significantly changed how bankruptcies are filed. Actually, some changes are in the favor of the debtor. For instance, we no longer have a minimum payment of 20% of the total debt in a chapter 13. Also, the State of Florida has increased the personal property exemption from $1,000.00 to $5,000.00 per person if you do not claim a homestead exemption.

I have been filing bankruptcies since 1985. My consultation for bankruptcy is at no charge. Please call us and schedule a time for us to meet to discuss your situation. Bring a list of your creditors to the meeting so I can appropriately advise you as to your best course of action.

If you have questions about Chapter 7 bankruptcy, please read my Questions and Answers under the following link:

If you have questions about Chapter 13 bankruptcy, this is the link to my Questions and Answers on this type of bankruptcy: