Consumer Bankruptcy Lawyers in North Miami Beach, Florida

Find the right Consumer Bankruptcy attorney in North Miami Beach, FL

Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is normally considered as an option of last resort, because while it can stave off financial disaster, it has some considerable long-term consequences warranting careful consideration of the costs and benefits. Being a creation of federal law, bankruptcy will go through federal courts. Accordingly, the process for filing for bankruptcy in Florida is essentially the same as the process anywhere else in the United States. However, particular courts in North Miami Beach, Florida will have particular rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in North Miami Beach, Florida

In North Miami Beach, Florida, there are 2 commonly-used types of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 involves liquidation of part of a debtor's assets. It requires that a certain percentage of the debtor's property to be sold to pay off as much debt as possible. The majority of property that most people own, however, is exempt. This normally includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once qualified assets are sold, and the money turned over to the creditors, most remaining debt is absolved. However, there are certain types of debt that cannot be absolved in bankruptcy, including student loans, taxes, child support, and criminal fines. If most of your debt is non-dischargeable, it may not be a good idea to file for bankruptcy in North Miami Beach, Florida.

Chapter 13 Bankruptcy in North Miami Beach, Florida

In North Miami Beach, Florida, chapter 13 is extremely different from Chapter 7, and may or may not be the best option for you, depending on your situation. Chapter 13 does not absolve debt, but restructures it instead. Normally, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is normally manageable, as long as the debtor can make some sacrifices.

Which Type of Consumer Bankruptcy Should I File in North Miami Beach, Florida

The answer to this question depends strongly on your particular situation. If you have enough stable income to manage a payment plan, and a lot of non-exempt property that you are unwilling to part with, Chapter 13 may be a good option. If you don't have much stable income, and most of your property is exempt, Chapter 7 might be better.

In any case, you should talk with a local North Miami Beach, Florida bankruptcy lawyer. Your lawyer can advise you of your options and inform you of their likely outcome. This will make it much easier for your to make an informed choice.

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Life in North Miami Beach

North Miami Beach is a suburb located in the Miami-Dade County of Florida. The city was originally named Fulford, and was renamed North Miami Beach in 1931. It is home to about 39,000 people.

Some popular attractions include Haulover Pkr, Haulover Beach, the St. Bernard de Clairvaux Church, and the Judge Arthur I. Snyder Tennis Center.

Famous people who have lived in North Miami Beach include Jonathan Zaslow, Max Jean-Gilles, Garcelle Beauvais, and Louis Delmas.

Miami is home to many law firms of all sizes. These firms train excellent attorneys with sharp minds and a "keen legal eye." Therefore no legal matter will pass unattended for North Miami Beach residents.

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