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Advantages Of Hiring Miami Bankruptcy Attorneys
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Filing Chapter 7 or 13 bankruptcy in Florida is certainly possible on your own, although many people feel overwhelmed trying to handle this very important legal process alone. A bankruptcy lawyer in Miami can help you understand how to file, the advantages of filing for bankruptcy, how you will pay and much more.
Filing for bankruptcy with legal representation will offer you the following:
• An end to harassing collections calls,
• Assistance protecting your assets, like your home and vehicle,
• Help understand how Chapter 7 and Chapter 13 bankruptcy work, and which is best for you,
• Advice about which type of bankruptcy you qualify for,
• Assistance protecting your ability to gain credit again in the future, and
• Assistance with foreclosure or short sale matters.
Why Your Case Must Be Handled Carefully
Remember, bankruptcy filing is taken very seriously by the courts in Florida, so a bankruptcy attorney in Miami will advise you that any documents you sign "under oath," including declaring your assets, must be done honestly. Doing otherwise puts you at risk of committing fraud or perjury. If you purposefully or even accidentally hide assets, income or property, and your trustee finds out, you may not be able to discharge debts, your case may not be dismissed, your bankruptcy discharge may be revoked, you may not be able to discharge your debts in a future bankruptcy and you could face criminal charges.
Sloppiness is also heavily discouraged when it comes to filing documents with the court, so Miami bankruptcy attorneys will ensure your paperwork is completed correctly and honestly. This may be tough to do on your own, as some documents contain legal terminology you may not understand, and these decisions will affect you for years.
Legal Representation During Hearings
In most cases, you will be required to attend hearings and answer questions about your financial situation and debts. Sometimes, your creditors will also send representation to these hearings, although this isn't very common. When you sit down with the trustee to go over your finances and answer questions, you may find it useful to have a bankruptcy attorney from Miami at your side. This can greatly reduce the amount of stress you're dealing with, and reduce the chances that you'll say the "wrong" thing at your hearing, which may be likely if you're flustered and nervous.
Chapter 7 or Chapter 13 Bankruptcy?
Finally, a bankruptcy lawyer in Miami will discuss with you the differences between Chapter 7 and Chapter 13 bankruptcy, as well as which you qualify for. Chapter 7 bankruptcy is a complete liquidation of assets that wipes out virtually all of your debts, and it's usually used when you have little property and very little money after paying basic expenses. Chapter 13 is more common if you have equity in your home and a great deal of property you want to keep, and you have regular income that supports you, but isn't enough to keep up with your scheduled debt payments. With Chapter 13, you will still need to make a monthly payment to the trustee to distribute to your creditors, and you may be under a repayment plan for up to 5 years.
Keep in mind many people wish to file for Chapter 7 bankruptcy do not qualify, because it requires passing a "means test," which refers to your income level and expenses. This is just one more reason why you may want to consider consulting Miami bankruptcy attorneys before filing on your own.
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