Question: I heard that most people do not qualify for Chapter 7 anymore because of recent changes to the law?
Answer: While it is true there is an income/means test requirement, most individuals can still qualify for Chapter 7.
Question: If I file for bankruptcy will I lose my house and my car?
Answer: In Florida your primary residence is generally protected under the Homestead Law. In most instances you can also keep your car. It is rare that a person has to give this up.
Question: How long does the process take?
Answer: Once the case is filed, it generally takes about 3-4 months.
Question: Will filing bankruptcy stop wage garnishment?
Answer: Yes, the instant we file the case, there is an automatic stopping of any collection actions and/or lawsuits even if they had already been filed against you.
Question: How will filing bankruptcy affect my credit?
Answer: It will be reported for up to 10 years on your credit. However, the negative accounts like credit cards also are reported for up to 7 years so in almost every case, your credit has already been severely damaged. Plus, once you file bankruptcy , it will eliminate all of the unsecured debt which will help with your debt/credit ratio which is an important factor in your credit score.
Our Miami-Dade office is conveniently located in the Coconut Grove and Coral Gables area of Miami, just off US-1 and Coral Way.
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