The bankruptcy law changes of 2005 placed new requirements on qualifying for a Chapter 7 bankruptcy. An experienced attorney is required to ensure all factors under the 2005 law change are applied for your benefit. Mr. Caplan has been practicing in the area of bankruptcy law for 20 years.

What is Bankruptcy?
Bankruptcy is a legal proceeding in which an individual 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 upon filing for bankruptcy all calls and letters, foreclosures, other lawsuits, and debt collection activity stops.

Chapter 7 - Liquidation
The shorter route to getting rid of debt. Eliminates credit card debt, medical bills, some personal loans, and other types of debt. A means test is used to qualify a debtor for Chapter 7. The means test is an income and expense analysis.

Chapter 13 - Adjustment of Debts of an Individual with Regular Income
Allows payment on your debt over a period of up to 5 years, although the amount of debt is usually less than all of your unsecured debt. Any interest that was being added to your unsecured debt before you file a Chapter 13 petition stops while you are making your plan payments.

Chapter 13 can help you if you are behind on your mortgage payments or if you have more than one mortgage on your home. If you are behind on your mortgage payments, you can try to make up the back payments through payments to the plan. If you owe more on your first mortgage than your house is worth, you can strip the second mortgage from your home.

We are located in the Thornton Park neighborhood just outside of downtown Orlando and serve all of Central Florida, including Orange, Osceola, Seminole, Brevard, Volusia and Lake counties. To speak with an experienced Orlando Bankruptcy Lawyer contact us today at 407-872-6249 or fill out the form on this page.