Are you struggling to pay your bills? Are you afraid to go to the mailbox? Do you get an uneasy feeling when the phone rings? You can protect yourself. Bankruptcy is an option provided by the federal government to give people a financial fresh start. Whether you are struggling to pay the mortgage or have accumulated significant medical or credit card debt, bankruptcy can help you. The federal bankruptcy laws can stop harassment from creditors and debt collection agencies.


With so many Americans out of work, it is not unusual for a person to lose health insurance or rely on credit cards for everyday needs such as groceries and fuel. An uninsured illness or injury can quickly lead to unmanageable medical expenses, and credit card debt multiplies rapidly if you miss payments or cannot afford to make more than the minimum payment. Fortunately, bankruptcy can help you eliminate medical bills and credit card debt, so you can get a fresh financial start. In some cases, you can use bankruptcy to eliminate certain types of IRS debt. You can also use bankruptcy to stop foreclosure and strip second mortgages under certain circumstances.


SARDI LAW assists clients in finding solutions to their debt problems. Contact our office online or call us at 305-697-8690 for an appointment.


Chapter 7


If your income is below the median income in Florida for a household of your size, you may be eligible for Chapter 7 bankruptcy. Under the 2005 revisions to the bankruptcy laws, you must submit to a “means test” to determine whether you qualify to file for protection under Chapter 7. We will walk you through the means test to determine eligibility. The Chapter 7 bankruptcy takes 4 to 6 months on average to complete. Upon completion, a debtor receives a discharge of certain debt. If you qualify, we will explain which debts can and cannot be discharged, as well as which assets you can keep. If you fail to qualify under the means test for protection under Chapter 7, in other words, if your income is higher than the mean income for a family your size in Florida, or alternatively, if your assets are in excess of what the law will protect for you, and you prefer to repay your creditors what you can afford to over a three-to-five year period, we will help you seek reorganization of your debt under Chapter 13.


Chapter 13


Chapter 13 bankruptcy is available for people whose income is above the median income in Florida for a household of their size, or who, based on the assets they wish to retain, prefer to repay what they can afford to over three to five years. If you file for protection under Chapter 13, we will prepare a debt payment plan that is within your means and will protect your assets, and we will submit it for approval by the court. In order to keep the court’s protection, you must abide by the terms of your plan. When the repayment plan is completed successfully, the court may approve a discharge of some of your debt.


Chapter 13 may allow you to discharge some of your unsecured debt and repay what you can afford to over time, as well as repay the IRS for tax obligations which cannot be discharged. Additionally, Chapter 13 can be used to stop a foreclosure sale on your home and help you catch up on the mortgage arrears and strip certain liens on your home in some circumstances. Speak with us to find out if you qualify. We can help you use a Chapter 13 filing to stop foreclosure proceedings and to set up new payment arrangements within your means.


You Can Restore Credit After Filing Bankruptcy


If you are considering bankruptcy or have filed personal bankruptcy to get a fresh financial start, you may believe that your credit record is permanently ruined. Contrary to popular myth, there is life after bankruptcy. You can re-establish your credit, often within 24 months of a bankruptcy filing.


SARDI LAW can assist you. To set up a consultation, email online or call our office at 305-697-8790.


SARDI LAW is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.