Chapter 13 Bankruptcy Attorney in Sunrise, Florida
During the Great Depression, President Franklin Roosevelt Said, "There Is Nothing to Fear but Fear Itself."
If you are in serious financial distress, the fear of the unknown can make your situation seem far worse. It is important to seek the counsel of an experienced and trustworthy attorney to explain your options clearly and simply.
Simpson Law Group has a solid 20-year track record of helping people climb out of financial trouble with step-by-step workable plans that help restore their financial health. We will help you determine whether you should file for bankruptcy. If you do not qualify for a Chapter 7 or if you want to save a home or car from being foreclosed or repossessed, because your debt must be paid or you earn too much money, filing a Chapter 13 bankruptcy may be an option. This is especially true if you have defaulted on your mortgage or car loan or if more of you have property that cannot be exempted (not counted) from garnishment or attachment by creditors, but that you want to keep than could be in Chapter 7.
Chapter 13 Reorganization
Chapter 13 reorganizes your debt. You create a realistic payment plan based on your "disposable income" that you have at the end of the month, --- money left over after payment of all after living expenses. It is wise to get qualified legal help as soon as possible because a lawyer has detailed knowledge of the best way to protect your assets. We may be able to help you use these very helpful federal laws to save your home, stop foreclosure, and consolidate debt.
Congress is deciding whether to modify bankruptcy law regarding home mortgages to allow the bankruptcy courts to more accurately reflect the value of a home at today's prices instead of the market boom prices of yesterday. Liens can also be less of a burden in Chapter 13. Don't delay. We can help you experience debt relief, stabilize financially, restore your credit, and look forward to the future again.
Sherri B. Simpson's clients often tell her that after seeing her just one time, "Thank you, I just had my first full night's sleep in six months."
Most people who are in financial disrepair think they want to file a traditional or straight bankruptcy under Chapter 7 of the Bankruptcy Code. However, there are many reasons an individual may want to file for a Chapter 13 bankruptcy:
Are you ineligible for Chapter 7 bankruptcy?
-Have you defaulted on your mortgage and want to save your home from foreclosure ?
-Do you want to save your car from repossession?
-Do you have considerable child support debt or other debt that can't be eliminated in bankruptcy?
-Do you have significant property that can't be exempted (saved from liquidation) in a Chapter 7 bankruptcy?
If you said yes to any of these questions, you should talk to an experienced Chapter 13 bankruptcy lawyer. Sunrise, Florida attorney Sherri B. Simpson can provide you with the informative and honest advice you need to make important decisions about your financial future.
What Is Chapter 13 Reorganization?
Filing for any type of bankruptcy will stop creditor harassment, wage garnishment and other debt collection efforts. Specifically, Chapter 13 bankruptcy can stop foreclosure (while Chapter 7 bankruptcy can only temporarily halt foreclosure). Chapter 13 reorganizes your debt. You create a realistic payment plan based on your "disposable income" that you have at the end of the month, — money left over after payment of all living expenses. You pay one monthly payment to a bankruptcy trustee each month for the course of your three- to five-year repayment plan and don't have to worry about each individual creditor. The bankruptcy trustee will pay creditors in accordance with the court-approved repayment plan.
Is Your Mortgage Worth More Than Your Home?
Due to the housing market crash in 2008, many homeowners have property that is worth less than what they owe. Even worse, they have second mortgages or home equity lines of credit (HELOCs) against the property. In these situations, the bankruptcy court may allow you to strip second and third mortgages (eliminate them) and HELOCs through a Chapter 13 bankruptcy. You may also be capable of modifying your mortgage to more accurately reflect the value of a home at today's prices instead of the market boom prices of yesterday.
It is wise to get skilled legal help as soon as possible, because a bankruptcy lawyer has detailed knowledge of the best way to protect your assets. We may be able to help you use these very helpful federal laws to save your home, stop foreclosure and consolidate debt.
At Simpson Law Group, we stay abreast of changes and interpretation of bankruptcy laws as they are implemented in Florida and across the nation so that we can best advise you throughout the legal process. Don't delay. We can help you experience debt relief, stabilize financially, restore your credit and look forward to the future again.