The Plante Law Group offers Bankruptcy and Debt Relief Services to individuals and businesses that are in need of temporary or permanent debt and creditor relief.  Such bankruptcy services include but are not limited to Chapter 7 discharges and Chapter 13 and Chapter 11 debt reorganizations.

Federal Bankruptcy laws are designed to give individuals and corporations breathing room from creditors and lawsuits and/or a fresh start. The Plante Law Group is experienced in assisting individuals and corporations to take full advantage of the rights and protections afforded them under Federal Bankruptcy Laws. Such rights and protections include but are not limited to: (1) implementation of an automatic stay which prohibits creditors from continuing to harass or otherwise pursue claims against the debtor other than through the bankruptcy process, this can include stopping a scheduled foreclosure sale, (2) eliminating a second mortgage in its entirety in a Chapter 13 case when the value of the personal home is less that of the first mortgage, (3) cramming down the debt owed on a vehicle to the current retail value of vehicle and extending the time period to pay off such debt, (4) relinquishing investment properties to the mortgage holder without them obtaining a deficiency judgment, (5) eliminating, in whole or in part, credit card and other unsecured debts and (6) procuring a payment plan over a period of 36 to 60 months to catch up and pay off arrears on debt secured by personal or real property.

The three most common types of bankruptcy proceedings are those filed pursuant to Chapters 7, 13 and 11 of the Federal Bankruptcy Code.

Chapter 7 – In a Chapter 7 case individuals are permitted to retain certain “exempt” property, while the remaining assets, if any, are liquidated by the Trustee and paid over to the creditors who have filed claims in the bankruptcy proceedings in accordance with the provisions of the Bankruptcy Code. In many instances the Debtor does not have any non-exempt assets. These cases are commonly referred to a No Asset Cases.  In No Asset Cases the Debtor obtains a discharge from his or her unsecured debts even though there is no money to be paid to any of his creditors.  Generally, individuals with an income level that is in excess of the median income for a family the size of the debtor’s in the state of Florida are not eligible for a Chapter 7.  Rather, Chapter 13 bankruptcy relief generally is appropriate in such circumstances. Generally, both Individuals and businesses are eligible for Chapter 7 bankruptcy relief.

Chapter 13 – Chapter 13 is appropriate for individuals who have regular income to repay a portion or all of their debt over an extended period of time.  An individual in a Chapter 13 case may be to retain certain assets through a repayment plan, even if his or her payments are in arrears. In addition an individual in a Chapter 13 case may be able to eliminate or “strip” a second mortgage on their personal residence and “cram down” the amount of the secured debt owed on personal or real property to the value of the property securing the debt.

Chapter 11 – Chapter 11 allows corporations, partnerships, and certain individuals who do not qualify under Chapter 13, to reorganize without having to liquidate all of their non-exempt assets. As in a Chapter 13, the Debtor (called the “debtor-in-possession” because a Trustee is not normally assigned) is required to present a repayment plan. If the plan is accepted by the creditors and subsequently approved by the Court (“confirmed”), this allows the Debtor to reorganize his/her/or its personal, financial, or business affairs.

If you are unable to pay your bills as they become due or would like to discuss any Bankruptcy or Debt Relief issues please do not hesitate to call The Plante Law Group at (813) 875-LAWS (5297) to speak to a Bankruptcy Attorney regarding your legal matter.

"DISCLAIMER: The aforementioned practice area description is for general informational purposes only and should not be construed as or relied upon as legal advice. Certain facts specific to your legal matter or changes in the law after this website was created may result in one or more of the above statements to be inapplicable or inaccurate."