Bankruptcy
FAQ
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This section provides information relating to frequently asked questions and their corresponding answers in our various areas of practice for our clients in Miami and Puerto Rico. Should you have any additional questions – regarding our bankruptcy lawyers in Miami or about any of our other areas of practice, please do not hesitate to contact us.
United States Trustee is the “watchdog over the bankruptcy process”. The United States Trustee’s mission is to … read more.
An adversary proceeding is a contested matter that will require a determination by the Bankruptcy Judge. In an adversary proceeding… read more.
A co-debtor stay means that a creditor cannot proceed against a person or business entity (the co-debtor) that is jointly liable for the debt of a Debtor. The co-debtor is… read more.
Your name will be included for purposes of signing the bankruptcy schedules and as a representative of the corporation or a limited liability company. However… read more.
The debt is only discharged as to the Debtor and not as to the corporation. Corporations are treated as a… read more.
If you file Chapter 7, the stock or interest you own in the corporation will become property of … read more.
Yes. Special attention will have to be made as to … read more.
The Means Test is a set of calculations used to determine whether a presumption of abuse exists for a Chapter 7 consumer debtor. Under the Means Test… read more.
Yes, depending on the circumstances. An automobile loan may be reduced to… read more.
Yes, depending on the circumstances. A strip down (reduction of the mortgage) or strip off… read more.
You can use a Chapter 13 or Chapter 11 to reinstate your mortgage payments. You may also… read more.
You need to list each of your creditors to make sure they are provided notice of your bankruptcy filing. If you are having… read more.
There are different requirements depending on the circumstances and under the Chapter filed. A typical deterrent for a bankruptcy … read more.
Yes. Creditors have the right to appear at the First Meeting of Creditors… read more.
A valid reason for your absence would have to be provided in advance or a request to excuse your physical presence will have to be made. A request to reschedule… read more.
The First Meeting of Creditors or 341 Meeting is a meeting with the trustee in which certain questions will be asked as to the accuracy of your schedules. It gives… read more.
The dismissal of a Chapter 7 bankruptcy filing is not absolute. A Chapter 7 can only be… read more.
There is no limit as to what the amount of debt you owe can be. However, the amount … read more.
Usually the dismissal will be with prejudice for 180 days. This all depends on … read more.
All of your debts must be listed in your bankruptcy filing. Certain creditors can be approached … read more.
Yes. A 401k is exempt under Florida law and federal bankruptcy law. However,… read more.
A Debtor is entitled to certain exemptions under state law and federal bankruptcy law. For example, certain exemptions exist … read more.
That question depends on the circumstances and the type of bankruptcy that will be filed. If you fell behind… read more.
The Southern District of Florida has capped Chapter 13 filings at: $3,500 attorney fees, $750 per motion to value real property, $500 per motion to value personal property, $150 costs and $274 filing fee. Other districts … read more.
Yes. The Clerk of the Bankruptcy Court will charge a fee to do so. You would … read more.
Some debts that are non-dischargeable under 11 U.S.C. § 523 include but are not limited to: a) certain taxes subject to certain conditions;… read more.
You would be liable for all debts that you are personally… read more.
No, your spouse does not have to file bankruptcy with you. However… read more.
Yes. You can file a Chapter 7 petition once every 8 years. You can file a Chapter 13… read more.
Yes. However, if a perfected judgment lien exists on your property,… read more.
Yes. However, in some rare occasions a settlement agreement may create a security interest in certain assets. The settlement agreement … read more.
Yes. This is one of the many reasons why people file for bankruptcy. However, even if you are… read more.
If you have a valid social security card, you will need your original card to file bankruptcy. If you lost your valid social security card… read more.
Debtors can seek secured credit cards to rebuild their credit. These are credit cards… read more.
Credit reporting agencies can report negative information on your credit report for 7 years and bankruptcy for … read more.
Yes. A bankruptcy will reduce your creditor score. After your bankruptcy,… read more.
A Chapter 11 bankruptcy is similar in certain respects to a Chapter 13. However, Chapter 11 bankruptcies … read more.
A corporation or limited liability company can file a Chapter 7 but will be considered no longer doing business. A corporation or limited liability company does… read more.
According to the Constitution of the United States of America regarding bankruptcy law, a Chapter 7 bankruptcy is a total liquidation. The debtor in a Chapter 7 … read more.
A discharge releases the debtor from liability from dischargeable debts. Upon discharge, the debtor will … read more.
A debtor is simply the person or entity which has filled bankruptcy. In bankruptcy terms, the debtor is the individual or entity responsible for the debt which is being discharged… read more.