Law Office of David C. Lucey, Esq. P.A.



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Florida Attorney David C.Lucey Bankruptcy Lawyer

Bankruptcy Lawyer

This firm offers Bankruptcy services both on its own, and, where appropriate, in more complex cases, in conjunction with some of the leading Bankruptcy practitioners in Palm Beach County.

Bankruptcy is a legal proceeding where you can eliminate most if not all of your outstanding debt and get a fresh start. After filing Chapter 7 or 13 bankruptcy the Bankruptcy Court issues an automatic stay which prevents creditors from contacting you or trying to collect an outstanding debt.

Moreover, they cannot take property from you through repossession, foreclosure or garnishment until the Bankruptcy process is completed. An important concept in bankruptcy law is the concept of "exemptions." When property is exempt, the bankruptcy trustee is not permitted to sell the property. However, any property that is not claimed as exempt may be sold for the benefit of your unsecured creditors.

Chapter 7 Bankruptcy in Florida

In a Chapter 7 Bankruptcy, all of your unsecured debts are wiped out allowing you to start fresh. Unsecured debts generally included under this umbrella are medical bills, credit cards, utilities bills. Other debts however, such as student loans, taxes, alimony and child support will remain, leaving you responsible for these debts. Under Florida law, most consumers filing for a Chapter 7 will be able to keep their personal property. This however will depend on the specific circumstances of your case.

Chapter 13 Bankruptcy in Florida

In Chapter 13 Bankruptcy, a repayment plan is set up which generally last three to five years for the benefit of your creditors. You are required to pay your debts in full or in part depending on your financial ability. After the specified period has ended, the remaining unsecured debts are discharged leaving you only with secured debts such as student loans, mortgages, child support, and alimony.
The major benefit of a Chapter 13 is that it permits you to keep items such as a house or car that are worth more than the exemption laws permit you to keep. By filing a Chapter 13 you can catch up on arrearages on your mortgage or car loan during the specified period and discharge all other debts which may have prevented you from making these payments.

Call my office at 561-275-1776 for a free consultation to determine if bankruptcy is right for you.

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801 Northpoint Parkway, Suite 60 | West Palm Beach, FL 33407 | (561) 275-1776 Fax: (561) 275-1777

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