Bankruptcy in Florida is a legal procedure that can provide financial relief to honest but unfortunate people who are unable to pay back their debts. The first thing you should do when considering bankruptcy is to talk to an experienced bankruptcy professional such as the ones at Berkowitz & Myer.
We will work hard to stop all creditor harassment and possibly bring a lawsuit and those who harass you, if necessary. We will also prepare your bankruptcy petition and make sure it contains everything you need. We will keep you informed of each step.
As soon as your case is filed, a trustee is appointed to work with you and will soon schedule a bankruptcy meeting. His or her role is to decide which assets you own are not protected by the bankruptcy laws. Assets that might not be protected by bankruptcy laws can either be sold by the trustee or a payment arrangement can be negotiated. Afterwards, the trustee can distribute the proceeds of the non-exempt assets (if any) to the owed creditors. It’s often the case that Florida residents don’t have assets to distribute.
At Your Bankruptcy Meeting
If you decided to file Chapter 13 bankruptcy, your trustee is entrusted with reviewing your proposed repayment plan and making recommendations to the court regarding the feasibility of your plan. Your payments will be sent directly to your trustee each month along with any other needed paperwork.
Four to seven weeks after you file your case with the court, there is a Meeting of the Creditors (341 Hearing) where creditors are given the chance to ask questions. Creditors rarely appear and most of the questions are asked by your trustee. Your trustee will ask about petition items and your lawyers will help you with these.
We know bankruptcy can be a tough process, contact our experienced bankruptcy attorneys for a free consultation at (727) 344-0123 or just complete the form on the right side of this page. We look forward to hearing from you.