Bankruptcy Attorney Miami

Garcia Hernandez, P.A. has represented clients in bankruptcy throughout the state of Florida.  We have represented clients in Miami-Dade, Broward County, Palm Beach County, the Treasure Coast, Collier County, Lee County and Hillsborough Counties. There are many reasons that people choose to file for bankruptcy.  Some of the more common reasons are medical debts, student loan debts, loss of wages or income, and even foreclosure. Bankruptcy allows people the opportunity to start fresh and reorganize their debts.

What is Bankruptcy?

Bankruptcy is a legal method for people (and businesses) that can no longer pay their debts to start fresh  and or reorganize their debts. It is done by liquidating existing assets to pay off debts, developing a debt repayment plan, or discarding debts completely.

How does the process of bankruptcy work?

In the majority of cases, a judge and court trustee will examine the assets (what is owned) and liabilities (what is owed) of individuals and businesses who can no longer pay their bills.  They will determine whether to discharge those debts so they are no longer legally required to pay them back.

Is bankruptcy the right option for you?

According to debt.org, over 97% of bankruptcies are filed by individuals. One does not need to feel defeated or alone when deciding to file for bankruptcy. Filing for bankruptcy is very common.  Many people – from all walks of life – struggle managing their debts and find themselves in overwhelming debt. Many times, individuals take on expenses (like a mortgage, car loan, or student loan to name just a few) and do not have the income to pay for it. Other times they may be faced with sudden expenses such as medical debts, loss of wages, a business closure, the death of a loved one, or a short or long term disability that keeps them from earning income at their full potential. Whatever the reason,  if you feel like your debts are overwhelming and can’t find a way out, bankruptcy may be the right solution.

What are the consequences of filing bankruptcy?

It is important to know that even though bankruptcy offers a fresh start financially, there are some consequences to consider. Filing bankruptcy will negatively impact your credit score and lessens the possibility to take out loans in the future. Bankruptcy can stop wages from being garnished, stop collection calls, prevent or delay a foreclosure on your property, stop repossession of a car, and other benefits, but the consequences mentioned above, should also be considered.

Different types of bankruptcy

Chapter 7 Bankruptcy and or Chapter 13 Bankruptcy are normally filed by individuals depending on their unique situation.

Chapter 11 is filed by individuals and or businesses who may not qualify for Chapter 13 seeking to reorganize their debts.

Click to learn about Chapter 7 Bankruptcy
Click to learn about Chapter 13 Bankruptcy
What are the differences between Chapter 7 and Chapter 13
Click to learn about Chapter 11 Business Bankruptcy
Click to learn about Mortgage Modification Mediation
To better understand which bankruptcy option is the best fit for you, contact our office today and schedule your consultation.