Miami, FL Bankruptcy Lawyer

If you are drowning in debt, bankruptcy may be the lifeboat you need to stay afloat and get back on dry land with your finances – filing can eliminate your debts and rebuild credit so you can continue to achieve your financial goals! Our experienced Miami bankruptcy lawyer can help you lay a solid foundation for your future so you can enjoy your life without the stress of unmanageable debt. Call today to book a free consultation and learn more about your next steps!

Don’t Believe Everything You Hear About Bankruptcy

Bankruptcy has a terrible reputation, but that’s because there are many myths surrounding what bankruptcy actually means, how it works, and how it affects your life. Knowing the facts about bankruptcy can give you more peace of mind and empower you to take legal action confidently! 

Bankruptcy does not mean that you have failed or that you are financially irresponsible. Especially in today’s economy where inflation and interest rates are high and there are other volatile changes happening, there are many circumstances you may encounter that are outside of your control – rising prices, job loss, an illness, etc. – that could lead you into debt. Bankruptcy is simply a legal way out of that debt. It will not cause you to lose everything you own; it will not ruin or even stay on your credit forever. It will prevent serious consequences like foreclosure.

Filing for bankruptcy can…

• Automatically stop all communications/harrassements from creditors – you’ll stop getting phone calls and mail! 
• Stop wage garnishments, repossession, and foreclosure
• Discharge (erase) unsecured debts or lower payments and have more time to pay debts off (depending on the type of bankruptcy you file for)
• Begin improving your credit score, in some cases immediately upon filing

At The Santos Law Offices, P.A., our Miami bankruptcy lawyer can explain the other benefits bankruptcy may hold for your life depending on your specific financial circumstances, and also what type of bankruptcy is right for you based on your needs. Chapter 7 and Chapter 13 are the most common forms of consumer bankruptcy. 

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is also known as “liquidation” or “straight” bankruptcy. Some of your possessions may be sold and the proceeds used to pay creditors, but many possessions most people are scared to lose are considered “exempt” property under Florida and federal law and cannot be taken from you. After non-exempt property has been liquidated, the bankruptcy court will discharge your eligible debt. You won’t be responsible for those bills anymore! 

However, Chapter 7 is income-restricted; your means must fall below the standard in order to qualify. 

Chapter 13 Bankruptcy

If you don’t qualify for Chapter 7, or if you are a homeowner who is extremely behind on mortgage payments, Chapter 13 may be the better option! Chapter 13 bankruptcy is also known as a “wage earner’s” plan, or as reorganization bankruptcy. Rather than all debts being discharged, some debts will be discharged and the court will restructure the rest into an affordable 3 – 5 year payment plan. Any debts that have not been paid at the end of the payment plan’s term will likely be discharged.

Why Working With A Miami Bankruptcy Lawyer Is To Your Advantage

Bankruptcy can be complicated – there is a lot of paperwork involved, as well as communications with the court and with creditors. Any missteps can cost you! Having a bankruptcy attorney you trust on your side can help you navigate the process and ensure a smooth, efficient, favorable outcome. At our law firm, we will take the time to listen to your story, explain your options, answer all of your questions, and handle everything for you so you can focus on rebuilding your future! 

The Santos Law Offices, P.A., Can Help You Get A Fresh Start

Our Miami bankruptcy lawyer, Dalyla Santos, has over 13 years of practice offering personalized, effective, affordable legal service to her clients. She and our staff are fluent in English and in Spanish, have received numerous rave reviews and recommendations on Google and Avvo, and truly care about each client. You can rely on our team to provide the guidance you deserve! Call today to schedule a free phone consultation.