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Presently, the United States has been experiencing an economic crisis which has resulted in the loss of employment and the difficulty of handling large debts. Many individuals simply do not know how to manage their earnings and have gotten into uncontrollable debt. Filing for Chapter 7 Bankruptcy is an option for many in Miami. If you are considering filing for Chapter 7 Bankruptcy Miami, the Bankruptcy Lawyers at Gallardo Law Firm can help.
Six types of bankruptcy were developed in the United States since 1978, but the most commonly used ones are really under Chapters 7, 11, 12, and 13. Chapter 7 is also known as debt settlement or “straight bankruptcy”, whereas Chapter 11 is a reorganization of bankruptcy, Chapter 13 is a strategy payment plan called “wage earner”, and Chapter 12 meets the same requirements as Chapter 13 but is aimed only at those debtors who are engaged in agriculture and fishing. You can find more details about Chapter 13 in the bankruptcy section of this site.
People usually think that bankruptcy is exhausting and can destroy a person’s credit, but that is very far from the truth. If you feel as if you are drowning in debt, you should consider filing for bankruptcy; we can help you decide of Chapter 7 Bankruptcy is right for you. Chapter 7 bankruptcies allow debtors to keep their properties, get rid of all debts, and even achieve their desired credit score. (See more information about credit on the Gallardo Law Firm website and the procedures on obtaining credit after bankruptcy).
Bankruptcy dates as far back as the beginning of the 19th century. The very first bankruptcy law was passed by the U.S. Congress with the Bankruptcy Act of 1800. At the time, only traders were permitted to file for bankruptcy. Debtors were able to file for bankruptcy about a half year earlier. The act was repealed a few years later. For almost half a century after repealing this law, there was no federal bankruptcy law in the U.S., and creditors processed the properties of debtors in his or her respective state. This caused an economic crisis in the 1840s, and “Federal Bankruptcy Code” laws emerged, which helped merchants and anyone struggling financially because they owed large amounts of money. These debtors now had the opportunity to choose to go bankrupt voluntarily. However, in 1843 the law was annulled. This happened because creditors were not happy with it.
Then, shortly after the American Civil War, the third bankruptcy law emerged. This law continued with the precedent that both merchants and non-merchants alike could freely file bankruptcy. In 1874, the “composition agreement” was added to bankruptcy law, allowing for debtors to pay back a chosen percentage of his debts over a given amount of time while also being able to keep his property. A reform in which debtors and creditors could understand each other on a judicial commission was also established in 1874. In 1878, the bankruptcy act was repealed, and for the following twenty years there were no federal bankruptcy laws in place. Instead, bankruptcy and insolvency was handled by each state, leading to the Panics of 1884 and 1893. By 1898, permanent federal bankruptcy legislation was put in place, establishing the first reforms on chapters 7, 11, and 13 emerged.
The first changes to the bankruptcy act of 1989 took hold with the Bankruptcy Reform Act of 1978. Some administrative guidelines were modified. One of the most common bankruptcies across the nation was Chapter 7. Some chapters were combined. For example, Chapter 10 and 11 became 11. This act was the first in the nation that did not come about due to an economic crisis.
In 2005, the BAPCPA, or the “Bankruptcy Abuse Prevention and Consumer Protection Act”, emerged. With this law, borrowers would now have to prove how they were unable to cover their debts, making it more difficult for a debtor to file for Chapter 7. They also had to attend classes about economy and credit. Chapter 7 bankruptcy appears under the federal law, Title 11 of the U.S. congress. Bankruptcy is a legal right under the Constitution of the United States. These processes are led by judges who specialize in this particular area.
Chapter 7 bankruptcy, also called “Liquidation” or “Discharged” bankruptcy, is a legal process under U.S. federal law that was established for companies and individuals with properties. Its main goal is the elimination of all debts that were acquired in a specific period of time. Obtaining a chapter 7 bankruptcy discharge means that people can continue on with their lives without worrying about financial debts, since they will be canceled through the bankruptcy process.
Chapter 7 bankruptcy can only be filed by individuals and by some types of business debtors. Bankruptcy attorneys can determine if you meet the following requirements:
Filing for bankruptcy can contribute to the individual’s immediate relief from collection activity. Chapter 7 bankruptcy Miami provides the following:
There are several procedures that should be followed before filing for Chapter 7 bankruptcy. Bankruptcy lawyers at Gallardo Law Firm can assist you in navigating these procedures before you file.
If you believe you are a victim of creditor harassment or unfair debt collection practices, contact your Gallardo bankruptcy attorney. You may be able to recover damages after providing proof that creditors have violated the Federal Fair Debt Collection Practices Act.
Discontinue use of credit cards once you have met with your bankruptcy lawyer or have chosen to pursue bankruptcy. Charges made to credit cards in the few months before filing bankruptcy may be subject to complaints from creditors that these charges were made with fraudulent intent.
If you discharge a loan or credit card debt from a credit union, that credit union may choose to close your checking and savings account. In certain cases, credit unions may seize the funds in your checking and savings accounts if your loan or credit card is secured by the money in those accounts. Loans may also be secured by other properties, such as a car. Examine your loan documents or visit your credit union to find out if your debts are secured by funds in your accounts.
Before filing, you must get a credit report and provide your bankruptcy attorney with a copy. By law, you have the right to obtain a free credit report once every year. You are also entitled to a free credit report if you have recently been denied credit, which you may obtain from the reporting agency upon receiving a letter of credit denial.
The process of bankruptcy under Chapter 7 is fairly quick; within two months of filing, the debtors will be enjoying the first advantages of Chapter 7. First, the debtor must meet with one of our qualified Gallardo Law Firm attorneys for bankruptcy, who will determine if the individual meets the requirements to file bankruptcy under Chapter 7. The process begins when the debtor fills out the form called “Statement of Financial Affairs”, and issues a report on the expenses, income, debts and any information about the creditors. If there are any property exemptions, they will be claimed on these forms.
“In order to complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules, the debtor must provide the following information:
- list of all creditors and the amount and nature of their claims;
- The source, amount, and frequency of the debtor's income;
- A list of all of the debtor's property; and
- A detailed list of the debtor's monthly living expenses, i.e., food, clothing, shelter, utilities, taxes, transportation, medicine, etc.”
From then on, the bankruptcy lawyer presents the case in federal court, where it is carefully analyzed by a court appointed trustee to check eligibility for Chapter 7. Once the application has been filed, an “automatic stay” is put in place, which will stop most creditor collection actions while the bankruptcy case is open. The judge then informs the creditors of bankrupt property, and they are forced to stop debt collection attempts. A notice will be sent by the court, where the debtor meets with the trustee and creditors. Questions about the debtor’s finances and bankruptcy forms may be asked. These meetings tend to be short.
After all this has taken place, the court appointed trustee responsible for collecting all non-exempt assets decides whether properties are worth seizing or selling; non-exempt properties include a second car, a second home, and investments. These properties are sold by the bankruptcy committee in Miami, and the payments received go to the creditors.
Once non-exempt property has been handled, secured debts are taken care of. Secured debts are those which are backed by collateral, where the creditor has the right to seize if the debt is defaulted on. In these cases, there are several ways in which a debtor can choose to handle their secured debts. Debtors may choose to return the property to the creditor, redeem it by paying back what is owed, or reaffirm the debt and pay back what is owed even after the bankruptcy case is closed.
The debtors have to appear in court, where they have to verify all the information previously provided. Then, the creditors and the court agree and accept the Chapter 7 bankruptcy Miami, waiving off all debts. After a minimum of sixty days from the date the bankruptcy was filed, a bankruptcy discharge will be sent in the mail. Between 30 to 45 days after receiving the discharge notice, another notice stating the case has been closed is sent. Once the case is closed, the automatic stay is then lifted.
There are certain debts that may not be discharged after a bankruptcy filing. The Bankruptcy code has a list of debts which are not discharged under Chapter 7 Bankruptcy. The Order of Discharge sent at the end of a bankruptcy case will not list these non-dischargeable debts. Bankruptcy attorneys at Gallardo Law Firm can help you determine if your debts are non-dischargeable. These debts include:
Bankruptcy lawyers play an important role in the process of financial crisis in Miami. Miami bankruptcy attorneys at Gallardo Law Firm will help you recover your finances. It is important to work from the start with a bankruptcy attorney, who, equipped with knowledge of Florida law and can help an individual restore his or her economic status in the shortest time possible, by reducing debt and eliminating harassment received from creditors.
If you are filing for Chapter 7 bankruptcy in Miami, your attorney must show that he or she has done sufficient investigation into your financial situation, and that your application for bankruptcy is eligible for consideration. Your attorney must also prove that to his or her knowledge, all of the information in your bankruptcy schedules is correct. Due to these requirements, your attorney may request copies of your financial documents, such as pay stubs, bank account statements, credit reports, and any information regarding your finances and assets.
Personal injury" cases are legal disputes that arise when one person suffers harm from an accident or injury, and someone else might be legally responsible for that harm.Find Law
The personal injury lawsuits are filed by those individuals claiming injuries caused by an accident due to the negligence or wrongful conduct of another person or entity.
Depending upon the intentional or neglectful infliction of the party responsible for the damage, the other party may be assigned to monetary compensation. The amount of compensation our personal injury lawyer may guide you to acquire will be determined by the severity of the injury. The injuries that receive higher settlements in these types of cases are those of broken bones, brain damage, and severe limb damage(s). The compensation will be obtained through a settlement agreement or a judgment after a trial.
In the state of Florida, one is required to file an injury claim in the county where the accident took place. When it comes to claims worth more than $15,000, jurisdictions apply at circuit courts in Florida. In county court, you will not be paid more than that amount.
The discovery is the procedure that is performed before the trial in which both parties request and discloses the records, information, testimony, and documents related to the accident. During the process of discovery, a personal injury lawyer will share information about the injury lawsuit. In many cases, this information has helped to settle the case out of court through mediation instead of going to trial.
There are different ways to obtain evidence. Interrogatories, for example, are questions sent from one party to the other one to be answered under oath and sent back within a certain amount of time.
Request for production is another way to obtain evidence such as records, reports, and bills to be available to the opposing party counseling.
There are certain facts that one of the parties requests for admission under oath. This means that such facts are enough evidence to prove the case at the trial. This is called a Request for Admission, and they have to be answered in a short period of time, or they will not be considered by the other party.
Deposition takes place out of the court in which the litigant, the offender, the witness or someone else involved in the case is scrutinized by the conflicting party under oath. This proceeding will allow the lawyer to know what the witnesses are going to say in the trial; therefore, they could use it to contradict them.
Independent Medical Examination consists of the testimony of the health care professionals taking participation in the case. They will tell the jury if the injury suffered was related to the accident in which the parties were involved.
Several types of injuries will require consulting a personal injury attorney. The skills of an experienced personal injury attorney come in handy when dealing with an accident. A personal injury lawyer can develop resources that will be useful when proving your case in court. He or she can convince insurance company executives to stop harassing you and move the process forward in a timely fashion. You will also have someone who can advise you on what to do or to say so that you do not jeopardize your case.
Sometimes, the claims adjuster tells you the truth when he or she says that you would not be able to obtain a higher settlement in court. However, you will not know that this is a statement of fact until you hire a personal injury lawyer, preferably in your local area. A local injury lawyer is familiar with the civil courts in your area and will know what to expect from the judges. An injury lawyer who has experience litigating is the best option. Firms such as Gallardo Law Firm have already represented several clients. Also, a personal injury lawyer is knowledgeable about personal injury laws. A personal injury lawyer will have several important contacts that he/she can call upon to help with your case.
A personal injury lawyer will visit the scene of the accident to determine who caused it. If the investigation takes place right after the accident transpired, your lawyer will be able to take pictures and gather evidence. If you were involved in a car collision, your attorney will photograph damage to the vehicles.
Your personal injury lawyer will also document the progress of your injuries on a regular schedule to demonstrate how the wounds are healing. Photographs are much more valuable than your testimony because they give the jury a visual representation of your pain and suffering.
Your personal injury lawyer will remain in contact with your doctors to obtain your medical records when needed. If you had the opportunity to write down the witnesses names, your lawyer will be able to review their statements with them. Finally, an injury lawyer will make sure that he is familiar with local laws.
When an injured party formally requests payment for his or her injuries from the at-fault party’s insurance company, the injured is said to have filed a “personal injury claim” In the best case scenario, the matter ends after successful negotiations between the injured party and the at-fault party’s insurance company. When this occurs, the adjuster and the injured party are both happy with the settlement.
When things cannot proceed as smoothly as was described above, your personal injury lawyer will file a personal injury lawsuit. This may be the best course of action if the adjuster continues to deny that you were seriously injured. This leads to settlement offers that are much too low to cover your medical expenses. The answer is to file a lawsuit in civil court that will be tried in front of a judge or a jury.
Damages in personal injury cases are generally classified as “compensatory,” which means that they serve to compensate the person injured for the lost caused by the injuries or accident. Compensatory awards help the injured plaintiff monetarily. However, pain and suffering as we all know doesn’t have a monetary value. Having physical limitations lingering from an accident can be very limiting and stressful. That’s why it’s wise to seek the counsel of a workers compensation lawyer.
There are a few compensatory damages frequently occurring in personal injury cases:
If you win your case, the judge may award you damages to compensate you for the monetary losses you sustained due to your injuries. Compensatory damages cover medical bills and lost wages. If your capacity to earn a living is diminished, you could receive a sum of money to compensate you for this loss. Gallardo Law Firm can help you get the most out of your case.
Punitive damages are meant to punish the defendant for acting badly and to discourage similar behavior in the future. For this purpose, juries have been known to award plaintiffs millions of dollars. The court determines the amount by comparing your suffering to the sum your personal injury lawyer believes you deserve to receive.
