Chapter 7 and Chapter 13 bankruptcy basics.

Bankruptcy is a process in which consumers and businesses can eliminate or repay some or all of their debts under the protection of the federal bankruptcy court. For the most part, bankruptcies can be divided into two types -- liquidation and reorganization.

Chapter 7 bankruptcy comes under the liquidation category. It's called liquidation because the bankruptcy trustee may take and sell ("liquidate") some of your property to pay back some of your debt. However, you may keep property that is protected (also called "exempt") under state law. There are several types of reorganization bankruptcies, but Chapter 13  is the most common type for consumers. In Chapter 13 bankruptcy, you keep all of your property, but must make monthly payments over three to five years to repay all or some of your debt.

How Bankruptcy Can Help With Foreclosure Defense 

If you are facing foreclosure, bankruptcy might be able to help. In many cases, filing Chapter 7 bankruptcy can delay the foreclosure by a number of months. Some people may be able to save their home by filing for Chapter 13 bankruptcy.

What Is Foreclosure?

Typically a foreclosure begins after a homeowner falls behind on mortgage payments. The lender begins the legal process of selling the home at auction in order to get payment for the loan. The process involves numerous steps, including notification to the homeowner.

This won't happen overnight. Usually a lender won't begin the foreclosure process until you've missed several payments, often three or four. That gives you time to try some alternate measures, such as loan forbearance, a short sale, or a deed in lieu of foreclosure.

But if you've already tried and failed with these measures, now is a good time to consider bankruptcy as a possibility for avoiding or stalling foreclosure. Here are some ways that filing for bankruptcy can help you.

False Affidavits in Foreclosures: What the Robo-Signing Mess Means for Homeowners

The robo-signing scandal is an opportunity for homeowners to challenge foreclosures in court, negotiate with lenders, and buy time.

Recently the media and courts have slammed the mortgage lending industry for using false affidavits in thousands of foreclosure cases. Because of the "robo-signing" scandal, several large banks have temporarily frozen all pending foreclosures. For some homeowners, the robo-signing mess may create opportunities to challenge their foreclosures in court or negotiate with lenders to avoid foreclosure.

Read on to learn about the massive robo-signing problem and what it means for homeowners.

What Is Robo-Signing?

The Bankruptcy Process in Florida and How it Can Help You!

Bankruptcy is a legal proceeding in which a person who cannot pay his or her bills can get a fresh financial start. The right to file for bankruptcy is provided by federal law, and all bankruptcy cases are handled in federal court. Filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law.

It will stop all creditor calls, collections activities and harassments, wage and paycheck garnishment, and repossession of your car or other personal property, postpone or stop foreclosure on your home, and eliminate all or most of your debts. It will also restore or prevent termination of utility services and allow you to challenge the claims of creditors who have committed fraud or who are otherwise trying to collect more than you really owe. Speak to a Florida bankruptcy attorney now.

Learn more about Chapter 7 Bankruptcy!

Learn more about Chapter 13 Bankruptcy!

Back to Home Page

Florida Foreclosures take between 4 to 36 months!

This is one of the most important and often asked questions. The short answer of where your case will fall between the 3 and 36 month time frame depends upon your foreclosure defense attorney.  How long you can remain in your home depends on a number of things including the status of your case, the defenses that are available, proper presentation of those defenses and even how many cases are backlogged in our courts. 

A Florida foreclosure defense attorney can help you control the amount of time that the foreclosure process will take. Our foreclosure defense attorney will be able to show you any problems that exist in your foreclosure case and develop defenses to fight your foreclosure. The obvious benefit of this is that you, the homeowner, will be able to take back contol of your life and alleviate a large amount of stress.  Quite simply, you can have a say in how your foreclosure case proceeds and will have an experienced foreclosure defense attorney helping you every step of the way to ensure that all of your options are explored and you make the best decisions for you and your family.

To get the most up to date information about how long the foreclosure process takes, and the latest inside information about how the foreclosure process is working in your specific county please contact our office.  With the invention of the "rocket docket" and similar processes that courts are using to speed up the process, the time frame for a foreclosure is always changing.  To make sure you are protected and receive the most up to date and accurate information contact an experienced foreclosure defense attorney.

Back to Home Page