FREE BANKRUPTCY EVALUATION
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At The Carrillo Law Firm, we know that while every bankruptcy proceeding is unique, most people feel intimidated when filing. The paperwork involved in bankruptcy cases can be quite confusing, and, more often than not, your creditors will have teams of lawyers behind them.
Our objective is to make the bankruptcy process as simple and painless as possible for our clients. Depending on how far you are into the process, our bankruptcy attorneys may be able to:
- Help you understand eligibility requirements and the different types of bankruptcy
- File your petition with the U.S. Bankruptcy Court
- Negotiate with your creditors at your 341 Meeting
- Argue on your behalf in bankruptcy court, if necessary
- Help you regain control of your finances and get a fresh start
When you’re having financial problems, time is of the utmost importance. Acting quickly and hiring an attorney when you miss credit card payments or when your business starts failing is the first step in gaining control over your finances. Contact The Carrillo Law Firm today to discuss your financial situation and whether bankruptcy is right for you.
Bankruptcy Chapter 7:
A Chapter 7 bankruptcy allows your dischargeable debt to be dismissed, while maintaining possession of your primary home, automobile, and retirement plan. It also immediately stops garnishment of your wages, foreclosures, and may eliminate deficiency balances.
Bankruptcy Chapter 13:
Chapter 13 bankruptcy serves as an interest-free debt repayment plan. The court allows a payment plan to repay the consolidated debt within a specified time period. During this period, creditors can not collect from you. A Chapter 13 bankruptcy also stops the foreclosure process and permits outstanding and future payments to the mortgage company, while the mortgage company is prohibited to foreclose to collect past due payments. A second mortgage may be eliminated if the value of your home is less than the value of the first mortgage.
Q. Will lose all of my property if I file a Chapter 7 bankruptcy?
A. Although most of your debt is discharged under a Chapter 7 bankruptcy, you will not lose all of your property automatically. The court may sell your personal property to pay your creditors. The items that the court sells are usually luxury items that are not essential such as a boat or expensive jewelry. if you can continue to make payments on your home and car and reaffirm those debts you will likely be able to keep them.
Q. How often can I file a Chapter 7 bankruptcy alone?
A. Every 8 years.
Q. I’m married, can I file for chapter 7 bankruptcy alone?
A. If one spouse has incurred a substantial amount of debt under their name, they may file for bankruptcy alone. However, the income and assets of the spouse not filing will be taken into consideration to determine whether the filing spouse qualifies for chapter 7 or chapter 13.
Q. What does it mean that my debt will be “ discharged” under Chapter 7 ?
A. Under Chapter 7, debt that is discharded is eliminated and you will not be personally liable to pay it back.
Q. What type of debt is not dischargeable under Chapter 7 bankruptcy ?
A. Examples of debt that is not dischargeable under Chapter 7 are student loans, child support and alimony.
Q. Will I lose all of my property if I file a Chapter 13 bankruptcy?
A. Chapter 13 bankruptcies allow you to keep your personal property. The court will require that you pay a portion of your debt during a 3-5 year period. Your property will not be sold to repay your debt.
Q. How often can I file a Chapter 13 bankruptcy ?
A. Every 8 years
Q. I’m married, can I file for Chapter 13 bankruptcy alone?
A. If one spouse has incurred a substantial amount of debt under their name, they may file for bankruptcy alone. However, the income and assets of the spouse not filing will be taken into consideration to determine whether the filing spouse qualifies for Chapter 7 or Chapter 13.
Q. Who do I make the monthly payments to, under Chapter 13 ?
A. A trustee is appointed by the court and all payments are made to the Trustee
FORECLOSURE AND LOAN MODIFICATION
Chapter 702 of the Florida Statutes allows a lender to bring foreclosure proceedings against you if you have defaulted on your mortgage payments. We can defend you and protect your legal rights by filing different motions to protect your legal rights and help you to remain in your home while your financial situation improves, or you make other financial arrangements.
If your financial situation has changed, your property value has decreased significantly, you are late in your payments or having a hard time making the payments on your mortgage, you may qualify for a loan modification. If your lender approves the modification, the mortgage payment and interest rate may be reduced and foreclosure can be avoided. Sometimes the principal is also reduced.read more
Have you been involved in an automobile accident? If so, we are here to help you obtain the compensation and treatment you deserve. Accidents are often very traumatic and jolting experiences for everyone involved. Our legal team provides a great support base for our clients, who are faced with the consequence of a car or truck incident.
We are experienced dealing with insurance companies. A demand package will be prepared, and submitted to the insurance company in an attempt to conclude the case for a reasonable amount. If they are in agreement, we will settle. If you have a major claim and the insurance company is not willing to accept the fair market value, we will proceed to file suit in court and obtain the best possible result for your particular situation.
A. In a personal injury case, you will have to show that you were injured either physically or emotionally due to the negligence, strict liability, or intentional misconduct of another.
A. You may be financially compensated for your injury but this compensation depends on several factors. These include physical and emotional suffering, economic hardship or financial loss due to the injury, and physical impairment due to the injury. The damages that you may recover for include, but not limited to : medical bills, lost wages, disfigurement, disability, emotional anguish, and property damages.
The above is a very brief and basic review of some of the various legal services we offer. Please contact either one of our centrally located offices for an appointment to explain further official information pertaining to each category. We will be happy to assist you and evaluate your individual case, legal rights, and needs.