Miami Bankruptcy Attorney
Aramis Hernandez is a Miami bankruptcy attorney with proven Chapter 7 and Chapter 13 bankruptcy success in many cases.
Here at the Law Office of Aramis Hernandez, we recognize that bankruptcy is a multifaceted subject that requires knowledge and experience in order to get the best possible results for each individual and their unique situation.
Chapter 13 Bankruptcy
At the Law Office of Aramis Hernandez, we recognize that every individual in need of debt relief services is unique. Our attorneys can help you find the best bankruptcy options for you, and start you on the path to financial recovery today.
If you feel that you are in need of legal representation for your bankruptcy, contact our Chapter 13 and Chapter 7 bankruptcy lawyers for experienced and confident legal advice. We will work hand in hand with you to choose only the options that best fit your needs. After an initial consultation, we can begin working to protect your best interests.
Chapter 7 Bankruptcy Lawyers
At the Law Office of Aramis Hernandez, we recognize that every individual who seeks debt relief services has different needs. Our attorneys can help you find the best bankruptcy options for you, and start you on the path to financial recovery today.
If you feel that you are in need of legal representation for your bankruptcy, contact our Chapter 13 and Chapter 7 bankruptcy lawyers for experienced and confident legal advice. We will work hand in hand with you to choose only the options that will work best for you. After an initial consultation we can begin working to protect your best interests.
It is unfortunate and difficult to deal with divorce and bankruptcy at the same time. One thing to consider is whether you both have a lot of debt between you. If so, it might make sense to file for joint bankruptcy before starting a legal divorce proceeding. This can simplify the divorce process by clearing out some of your debt. This can also make it easier to negotiate how the remaining debts should be divided, and offer you financial protection down the road. Not only will this make the final division of any remaining debts easier, but it will also make the entire process cheaper.
What to expect when filing for bankruptcy during a divorce:
When one or both spouses file bankruptcy, all the community property – that is, property that was bought or acquired during the course of the marriage – becomes a part of the bankruptcy estate and is available to pay debts. The bankruptcy estate is simply all of the property that you own at the time the bankruptcy is filed.
Post-Bankruptcy Credit
After receiving a discharge in bankruptcy, creditors whose debts are discharged are required to report that the account has a zero balance. The fact of the filing itself can remain on the credit report for 10 years from the date it was filed. A debtor interested in re-establishing credit after bankruptcy should obtain credit reports from the three largest credit reporting agencies (Experian, Equifax, and Trans Union), and ensure that the account balances have all been zeroed out. If they have not, the debtor should contact the credit reporting agencies and ask that the record be corrected.
If you are struggling against overwhelming debt or a personal financial crisis, it is important to get the information you need to make sound decisions.
At The Law Office of Aramis Hernandez, we understand the stress and confusion that can surround the prospect of bankruptcy. This is why we take time to fully evaluate your situation and let you know how you can take the best course of action. It costs nothing to schedule and attend a consultation to find out if you qualify for bankruptcy protection.
Comparing Income to Expenses
There are many different myths floating around about bankruptcy. One of these is that only the very poor can file for Chapter 7 liquidation bankruptcy. In reality, the bankruptcy qualification process is complex, and it involves a thorough accounting of what you make, what you have, and how much you owe.
We take the time necessary to evaluate a client's bankruptcy qualifications. It isn't just about how much you make or how much you’re worth. It is a determination of how your income measures up to your expenses. The gap between income and expenses is crucial for determining what options are available to you.
In order to determine whether you qualify for bankruptcy, we look at a range of issues, such as your income, dischargeable and non-dischargeable debt, exemptions, and your tax issues.
Most people focus on the financial costs of dealing with their debt, such as attorney fees, rather than the emotional costs of ignoring or sidelining their financial problems. At the Miami law firm of Aramis Hernandez, we help our clients understand the importance of relieving their debts and moving forward with their lives – not just for financial reasons, but also for their health and happiness.
Overwhelming debt and creditor harassment can cause a great deal of stress, lack of sleep, and even depression. Can you put a monetary value on your happiness?
Debtors also often undervalue their own time. Time spent on the phone dealing with creditors and discussing financial problems with your spouse is lost time. You can stop wasting time and take action now. For most people, inaction costs much more in the long run. If you are wondering whether you can afford bankruptcy, the answer is yes.
Liens can be stripped off of the debtor's assets in Chapter 11 or Chapter 13 when the equity in the asset is less than the amount of the unsecured portion of the lien, after deducting senior liens from the property's current market value.
There is a special exception to this concept that limits lien stripping when the lien is a voluntary lien, like a mortgage, on property that is the debtor's principal residence. Under this exception, voluntary liens on a home can be stripped off only if there is no equity in the property at all after totaling the senior liens, to which the lien in question could attach.
Loan Modification is when you negotiate different and more advantageous loan terms with your lender.
It helps you avoid foreclosure and allows you to remain in your home.
If you can no longer afford to pay your mortgage – for whatever reason – loan modification will help get you back on your feet.If you think you can’t qualify for a loan modification or that it’s too complicated, we’ll show how easy it can be.
In 2005, Florida made major changes to the bankruptcy laws that led some consumers and families struggling with debt to believe that they are no longer able to get the relief they need. While it is true that many of the laws were pushed hard by credit card companies and special interest groups, an experienced attorney can still help people from all walks of life to get results and get their lives back on track.
At The Law Office of Aramis Hernandez, we help clients put the law behind their families and their finances. We analyze your situation, evaluate your needs, explore your full range of options, and connect you with a plan designed specifically for you. If you have questions about how new bankruptcy laws impact you, call us at 305-374-7744.
At the Law Office of Aramis Hernandez, we analyze each client’s finances and determine with them which path to debt relief is best for their needs.
In most cases, if you have a large amount of secured debt, Chapter 7 bankruptcy may be the best option. For those who qualify, it completely eliminates all of the debtor's secured debt. However, if you do not qualify for Chapter 7, Chapter 13 can also provide debt relief through a structured, customized repayment plan. Some types of secured debt include mortgages or home loans, other real estate loans, as well as car, boat, and other motor vehicle debts.
What Is the Best Way to Settle Your Debt?
Unmanageable credit card payments and skyrocketing interest rates affect thousands of people throughout Dade County. It is easy to recognize when a financial crisis is seriously impacting your life, but it’s harder to determine how to proceed. Some people choose to do nothing and suffer the consequences. Others choose to seek the help of unregulated debt settlement companies.
These companies claim to be able to reduce your debt, when what they usually do is collect your payments into a war chest so they can offer debtors a lump sum. Other potential problems with debt settlement companies include:
People who instead choose to work with an experienced and proven bankruptcy attorney have more dependable options. As your lawyers, we can put the weight of the courts behind your plan and immediately end collections calls, build a plan to eliminate dischargeable debt, and create a solution that protects you both now and in the future.
Unlike debt settlement, a Chapter 7 bankruptcy can eliminate debt without the need for repayment while also protecting the property and wealth that's most important to your family.
Helping Business Owners Take the Right Action
For a small business, Chapter 7 bankruptcy can be a very powerful tool. Whether you run a family owned retail business on Main Street or a web-based business from your home, in many cases you can handle your issues through traditional consumer bankruptcy protections.
The best option would be to work with a lawyer who know what their doing in a Florida Chapter 7 bankruptcy. The Law offices of Aramis Hernandez will help you build a strategy and help you deal with the issues that matter both as a business owner and an individual. Some examples of these i
1. Commit yourself to a budget.
Yes, this is always the easiest thing to tell someone facing financial chaos, and sometimes it’s impossible to achieve. But if you face a very tight financial situation, you need to try to maintain daily, weekly, and monthly budgets. It may be impossible to stick to an unreasonable, inflexible budget, but with practice and commitment, you will experience more and more success living within a realistic budget.
2. Find out the current value of your property.
Many people unable to make the payments on their first and second (and sometimes third) mortgages might have options to extinguish mortgages in bankruptcy. Be open to the fact that most property values have decreased in the past year, and look at all viable options.
For example, some lenders (though not many) will work with borrowers to lessen their monthly payments, even when the lender knows there is no equity in the property to secure the loan. You should talk to a local bankruptcy attorney about extinguishing the junior, unsecured mortgages on your property through Chapter 13 bankruptcy.
3. Accept your current financial situation.
Many of our clients come to us after all other options have failed. They have a judgment against them and their wages are being garnished or a bank account is being levied. Avoid the ostrich approach to your financially precarious situation; don't stick your head in the sand and hope someone will come to your rescue.
4. Find ways to entertain your family without spending money.
The Internet is full of thoughtful suggestions on how to enjoy your day without depleting your wallet. Family and friends should be able to recognize that spending time together can be as enjoyable as spending money together.
Don't:
1. Transfer property out of your name.
Trying to hide assets is risky and illegal. If you have an asset that cannot be protected in a bankruptcy filing, you need to discuss your situation with a competent professional. There are legal ways to protect assets; transferring an asset out of your name and immediately filing bankruptcy is simply not intelligent.
2. Max out or take large cash advances from your credit cards.
People always say to me, "I have $5,000 of available credit on a credit card. Should I use it before filing bankruptcy?" This constitutes fraud because you obviously have no intention of paying that money back. Creditors hope they will catch you in this type of conduct so they can make you pay back every penny of recent spending.
3. Buy a car that overextends your budget.
Car purchases are one of the most common drains on your monthly income. Be very careful about taking on a new car payment, especially if your household already has one car payment. That second payment could be the tipping point to financial insolvency.
4. Try to comfort yourself with “retail therapy.”
Many people believe that their self-worth is based on the newness of their clothes or the gifts they buy for their friends. One act of unbridled exuberance can be the difference between a happy new year and one filled with more financial uncertainty.
5. Take your financial frustrations out on those closest to you.
When faced with financial challenges, many people will take out their anger and frustration on the people nearest and dearest to them. This is easy to do, but completely unacceptable. All you will achieve is the alienation of those who care the most about you.
In Chapter 13 or 7 bankruptcies, the trustee or court will determine if you are honest and unfortunate by reviewing your mandatory disclosures. It is important to include all of your assets in these disclosures, regardless of their locations. Even if you have accounts or property outside of the U.S., you must disclose them if you are filing bankruptcy in the U.S.
For the most part, student loans are not dischargeable under Florida and federal bankruptcy laws, which means that at the end of the process you will likely still be responsible for paying these loans. In certain cases, however, it may be possible to get an exception that permits those in the most serious of need to eliminate these debts.
If your student loans, like most, are nondischargeable, then we may be able to address other debts, such as credit card bills or medical expenses, so that you have the resources you need.
The tax laws as they relate to bankruptcy can be very complex. While some tax debt may be relieved through Chapter 7 or Chapter 13 protections, others are non-dischargeable and remain even after your bankruptcy is complete. This is made even more complex by the fact that the IRS is the only public or private entity that can garnish your wages without a court judgment against you.
Going into bankruptcy court to take on IRS and tax issues without a bankruptcy attorney who has a sophisticated understanding of the complex laws involved can leave you at a major disadvantage. Without experienced help, you may lose a substantial tax refund that you would have otherwise received, or you may not get the relief you are owed.
Choosing your attorney is a very important decision. You want to make sure it is a decision you are confident about. At the Law Office of Aramis Hernandez, we offer our prospective clients free one-on-one consultations. That way they can meet us and review our qualifications before deciding to retain us as counsel.