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Miami Chapter 7 Bankruptcy Lawyers

Experienced Counsel for Individual and Corporate Debtors

As an individual or business owner, there is nothing quite as distressing as being unable to pay your debts. Constant calls from creditors, lawsuits, evictions or foreclosures looming in the future, or the thought of closing your company’s doors can be devastating. There is hope for a fresh start and one option for you may be, through a Chapter 7 bankruptcy.

Bankruptcy may provide a way out and a much needed clean slate and fresh start, but it is important to fully understand how a Chapter 7 case may affect you or your business. Our Miami, Fort Lauderdale, and West Palm Beach bankruptcy attorneys can offer insight based upon decades of legal experience to help you make the right choice for your unique circumstances. We represent individual and corporate debtors in Chapter 7 proceedings, protecting our clients’ rights to help them experience all of the benefits that bankruptcy has to offer.

Contact Edelboim Lieberman Revah Oshinsky PLLC today at (305) 712-6097 for a free initial bankruptcy consultation.

Chapter 7 Bankruptcy for Individuals

For an individual debtor, Chapter 7 bankruptcy involves the liquidation of assets. Filing a Chapter 7 case does not necessarily mean that you will lose your property. In fact, if your bankruptcy is planned and the proper strategy is in place most debtors find that many of their assets are protected in a Chapter 7 case through the generous exemptions the laws of the state of Florida provides. Our Miami, Fort Lauderdale, and West Palm Beach Chapter 7 bankruptcy lawyers can talk to you about the specific repercussions you may face, so you know exactly what to expect. We can also work to protect your assets and legal rights every step of the way.

In Florida, the following property, among others, may be exempt from liquidation:

  • Your house, condominium, or mobile home
  • Certain prepaid accounts, such as prepaid medical or health savings accounts
  • Your motor vehicle
  • Prescribed health aids
  • Tax exempt retirement accounts
  • IRAs and Roth IRAs
  • Wages
  • Certain personal property
  • Workers’ compensation
  • Alimony and child support
  • Life insurance and Annuities

There are some limits to the value of exempt property, so we recommend reviewing your finances with your attorney.

Corporate Chapter 7 Bankruptcy

When a company files for bankruptcy under Chapter 7 of the United States Bankruptcy Code, this will mean that the business will likely cease operations. However, Chapter 11 can offer a reorganization of your business debts while allowing your company to remain in business and operating, and it is therefore important to consider all options and their particular advantages and disadvantages based on your goals and desired outcome.

Make informed choices and experience the benefit of experienced counsel by calling a Miami, Fort Lauderdale, and West Palm Beachbankruptcy lawyer at (305) 712-6097.

Edelboim Lieberman Revah Oshinsky PLLC
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