Jupiter Bankruptcy Lawyer
40 Years of Experience Resolving Financial Crises
Businesses and Individuals who are fighting overwhelming debt can find effective debt relief through a bankruptcy. There are different forms of bankruptcy open to individuals, and each type is used for a particular purpose. For instance, Chapter 7 is most effective for eliminating consumer debt while Chapter 13 is more appropriate when you’re attempting to save a home or other assets. Chapter 11 is available to help save business, and Chapter 12 allows farmers and fisherman to reduce debt. Whatever troubles you are facing, there is a solution for you. Throughout Palm Beach and Martin counties, Jupiter Chapter 7, 11 12 & 13 bankruptcy lawyer Julianne Frank Law offers advice and assistance in business and consumer Bankruptcy and can help you find the best solution for your unique circumstances and achieve your goal of taking control over your finances, rather than having your finances control you. You also might need help as a bankruptcy creditor, or you might be sued in bankruptcy court, and need representation.
Chapter 13 vs. Chapter 7 Bankruptcy
When considering filing for bankruptcy, determining which type of bankruptcy to file for can seem like a daunting and overwhelming task. Julianne Frank will help you determine the best course of action for your current financial situation and long-term financial goals. Before you file for bankruptcy, you should consult with a bankruptcy attorney to make sure you are in a place to make the most of the fresh start that filing for bankruptcy can provide.
Most individuals opt for Chapter 7 bankruptcy because it is faster and less expensive than Chapter 13. Chapter 7 eliminates credit card debt, medical bills, and other personal loans. Within Chapter 7, debts such as taxes and student loans are ineligible to be wiped out. It does not, however, offer a route to catch up on long-term payments such as auto loans or mortgages, and does not protect those types of assets from being foreclosed upon or being repossessed.
Chapter 13 bankruptcy is a better option for those with higher incomes that do not qualify for Chapter 7 bankruptcy. Chapter 13 ends up being a better choice for those who wish to retain certain assets such as their home or cars, or who wish to be given a chance to catch up on their mortgage payments. One of the major drawbacks of Chapter 13 is that the length and the cost of the repayment plan can be challenging for many filers.
Litigating Adversary Proceedings
An adversary proceeding is a lawsuit in a bankruptcy court. Be aware that most bankruptcy judges are strict about procedural rules, so it is advisable to have an experienced bankruptcy lawyer to represent the case.
Some examples of what adversary proceedings might involve include:
- determining a debt’s discharge or dischargeability (nondischargeability action);
- determining bankruptcy claims removed to a different court under the federal rules of civil procedure.
- determining priority or validity of a lien;
- recovering money or property;
- approving sale of debtor property by a co-owner;
- revoking confirmation of a plan;
- obtaining an injunction;
- subordinating a claim;
- obtaining a declaratory judgment;
An adversary proceeding commences when a plaintiff files a signed original complaint, a signed adversary cover sheet, and pays the applicable filing fee. Note that the clerk of court needs a separate cover sheet for each compliant filed to process the adversary proceeding, and an adversary proceeding must be brought within 60 days from the Meeting of Creditors. A creditor who fails to file or request an extension before the deadline can lose the ability to challenge the dischargeability of their debt.