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Bankruptcy
A Financial Fresh Start
At the law firm of Sandra Navarro-Garcia, P.A. we believe filing for bankruptcy is a very serious matter and may not be for everyone. Our goal is to find our client the right financial solution for their specific situation. Accordingly, this may sometimes involve advising a client not to file for bankruptcy relief. At the law firm of Sandra Navarro-Garcia, P.A. we combine our expertise and experience with the financial realities and goals a client is facing to obtain the most positive result possible for our client. Although we greatly dislike the problems that bring people to our office, we love being able to give them an appropriate solution that brings them peace of mind and allows them to regain control over their lives. At the law firm of Sandra Navarro-Garcia, P.A. we help good people like you who are dealing with a bad financial situation get your finances back on track and remember, you are not alone.
Chapter 7 Bankruptcy
A Financial Fresh Start
A Chapter 7 bankruptcy or liquidation of debt is available to individuals and small businesses who may have a great deal of debt, but few assets. A Chapter 7 bankruptcy discharge order will eliminate an individual’s financial and legal responsibility to repay most unsecured debt, such as credit card, medical bills, car repossession, or mortgage foreclosure deficiency debt. When you file for Chapter 7 bankruptcy relief a Trustee is appointed by the Court to verify that you have disclosed all of your assets and debts and to see if there are any non-exempt assets that could be sold for the benefit of your creditors. Normally, individuals who qualify for Chapter 7 bankruptcy relief have few non-exempt assets and debts which are routinely discharged at the conclusion of the bankruptcy case, meaning the individual is no longer legally liable to pay the listed creditors. A Chapter 7 bankruptcy typically takes between three to four months from the time the case is filed until the discharge order is issued and the case is concluded. Struggling with overwhelming debt can cause anxiety and stress in all aspects of your life. You do not have to face your financial struggles alone, contact the law firm of Sandra Navarro-Garcia, P.A., and schedule your consultation and together we can explore the options you have available for obtaining a financial fresh start!
Filing for Chapter 7 Bankruptcy
Will I lose all of my assets when I file for Chapter 7 Bankruptcy Relief?
Bankruptcy relief does not mean that you automatically lose all of your assets. Florida provides bankruptcy filers with one of the better exemption statutes in the country. Exemptions can be applied to any equity that exists in your property. Equity is the difference between the value of the property and what is owed on the property. During your consultation we will provide you with an analysis of what exemptions, if any you are entitled claim to. The most common exemptions are the homestead exemption which allows you to exempt the full value of your homestead property if you have owned in it for more than 1,215 days. In addition to the homestead exemption most individuals will qualify for an additional $1,000.00 for personal property and $1,000.00 for a motor vehicle exemption. If you do not own any real estate property then you are entitled to additional exemptions. Married couples who file a joint bankruptcy petition are each able to claim the full set of exemptions available to the parties. If a person has property with equity over the allowed exemption limits or non-exempt property, he or she can generally pay the Trustee the value of the non-exempt property and retain their property.
The funds recovered will be distributed by the Trustee for the benefit of creditors in the case. Last paragraph in this section: The funds recovered will be distributed by the Trustee for the benefit of creditors in the case. Sandra Navarro-Garcia, Esq., has been practicing in the area of consumer bankruptcy law for over 20 years and therefore can assist you in determining what rights you are entitled to if you were to file for bankruptcy relief, thereby making the overall process of filing for bankruptcy less stressful.
What Debts Are Non-Dischargeable in a Chapter 7 Bankruptcy?
Not all debt is created or treated equally pursuant to the bankruptcy code. Certain debts such as alimony, child support, student loans, certain taxes and debts incurred through fraud or embezzlement may be deemed non-dischargeable. Accordingly, these debts must be paid regardless of the filing of a bankruptcy case. If your situation involves any of the aforementioned debts, the law firm of Sandra Navarro-Garcia, P.A. will help you assess what options you may have available as related to such debts so that you can obtain a financial fresh start.
The law firm of Sandra Navarro-Garcia, P.A. can help you fight the possible loss of your home or investment property due to a foreclosure action, car repossession, mounting credit card, medical,and IRS debts. The first step towards a financial fresh start begins with learning what your rights and responsibilities are as to dealing with your creditors. Do not delay as time is of the essence when dealing with these matters, contact the law firm of Sandra Navarro-Garcia, P.A., and schedule your consultation today.
Having a legal issue is generally an unpleasant experience. It may mean that you have been hurt, injured or wronged in some way. At Sandra Navarro-Garcia, P.A. we understand how upset and overwhelmed you may be feeling, but know that you do not have to suffer in silence or alone as assistance is a phone call away. The Law Office of Sandra Navarro-Garcia, P.A. is here to protect your rights and advocate on your behalf.