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Call us today at (305) 235-9040 or submit
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| BANKRUPTCY |
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Bankruptcy refers to those proceedings brought under the United States Bankruptcy Code whereby persons or businesses that cannot pay their debt seek the assistance of the Bankruptcy Courts to get a "fresh start". Under the protection of the bankruptcy laws, debtors (only individuals) may be released ("discharged") from their debts, and businesses may restructure their debts according to a repayment plan that will allow the business to continue to operate. |
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| CHAPTER 7 BANKRUPTCY (LIQUIDATION) |
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| Most individual debtors (i.e. not a corporation or business entity) file Chapter 7 Bankruptcy. However, not all debtors qualify for this type of bankruptcy. In general, there is no limitation on the amount of debt that can be discharged by this bankruptcy, but debtors can only use this option if they have not filed under this chapter within the last eight years. Certain types of property may be protected or partial protected ("exempt") depending on the type of property at issue and the value of that property. If there is property that is nonexempt, it must be surrendered to the Court for distribution to creditors. Debtors must also have a relatively small disposable income (i.e. money left over after the payment of necessities). This form of bankruptcy is usually the quickest. |
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| CHAPTER 13 BANKRUPTCY (GOOD FAITH) |
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| Individuals who do not qualify for Chapter 7 Bankruptcy, or who wish to retain nonexempt property (for example, if a debtor wishes to keep a car but the car's value is over the legal exemption), must file under Chapter 13 of the Bankrupcy Code. Under this type of bankruptcy, debtors are limited to owing no more than $269,250 in unsecured debt (i.e. debts that aren't guaranteed by some sort of property...like a credit card) and no more than $807,750 in secured debt (debts guaranteed by property like a mortgage or car loan). Debtors in this type of bankruptcy may pay a portion, or all, of the debts owed via a monthly payment plan that may extend from three to five years. The discharge for this type of bankruptcy is not given until all the payments are made under the payment plan. |
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| BANKRUPTCY ABUSE AND CONSUMER PROTECTION ACT (“BACPA”) |
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In 2005, the Bankruptcy laws were substantially changed. These changes primarily focused on financial management education for the debtor and for an income determination to determine whether abuse is present. Under the new changes, abuse is a presumption that arises upon determining whether the debtor’s income is more than the average income in the debtor’s state. Upon a finding of abuse, a chapter 7 bankruptcy may be dismissed or converted into a chapter 13 bankruptcy (where the debtor would repay a portion of the debt owed).
The primary result of these changes was to force debtors who would have otherwise qualified for a chapter 7 bankruptcy to file for a chapter 13 bankruptcy (Prior to the 2005 changes, there was no income determination made for a bankruptcy filing, focusing instead on disposable income of a debtor).
Prior to filing for a bankruptcy, Debtors are now all required to complete credit counseling and to complete a financial education course in order to receive a discharge. |
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| MORTGAGE STRIP DOWN (2nd Mortgage Eraser) |
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| A mechanism now being used much more often is the strip down of mortgages. Due to the real estate meltdown of 2008/2009, many properties have been significantly devalued, leaving many Second and Third Mortgages without any equity to secure the loan. In a Chapter 13 bankruptcy, the Court may eliminate totally unsecured debts and liens. However, these cases must be based upon real figures for the property using a valid appraisal, and the mortgage must not have even $0.01 of equity to secure it. |
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| PITFALLS |
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| All Bankruptcies will be noted on a debtor's credit report, affecting that person’s ability to obtain credit in the future. However, this does not mean that debtors will never be able to obtain credit again. |
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| BANRUPTCY ATTORNEY |
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| Not all debts are dischargeable, and not all people should file bankruptcy. Most calculations with reference to legal exemptions of property, and determinations as to whether a person should file Bankruptcy or not are best left with qualified Attorneys. Also, there are many situations that may occur during bankruptcy that are best dealt with by a Bankruptcy Attorney. Consult an attorney to find out exactly what these situations are and how they can arise.. |
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| PERSONAL INJURY |
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| For over ten years, Miguel Parlade has successfully represented people who have suffered an injury due to the negligence of another, helping many to be compensated for their injuries. |
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| MOTOR VEHICLE ACCIDENTS |
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Car accident victims need attorneys. Most insurance companies know that most people do not know the value of the injuries they suffer and of their basic rights as a victim of an automobile accident. They know that without a lawyer, a victim of a car accident (who is dealing with the financial, physical, and emotional consequences of the accident) is much more likely to accept an unfair settlement. This is why most insurance companies will try to contact car accident victims the day after an accident, and this is why accident victims should contact a Personal Injury Attorney immediately after an accident.
Most car accident victims don’t know that regardless of who is at fault, each person’s own insurance must cover the costs of medical bills from the accident up to $10,000.00. The damage to the car and compensation for medical bills over $10,000.00, as well as for pain and suffering for any permanent damages; must be compensated through the insurance of the person who caused the accident. This is done by filing a claim against that person’s insurance, or if the insurance doesn’t pay, by filing a lawsuit against that person. |
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| ACCIDENTAL DEATH |
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Closure and Compensation for Surviving Families
When a person suffers a catastrophic injury, everything changes permanently. If the injury is severe enough, they lose their life completely and their families may be left in severe a financial and emotional condition. If your loved one was fatally injured because someone else was careless, contact us for a free consultation with an experienced Florida injury attorney.
If you have lost a family member due to someone else's negligence, you may be able to collect compensation for
* Loss of companionship
* Wage loss
* Funeral expenses
* Pain and suffering
Measuring damage in these cases can be challenging. Unfortunately, when we suffer a loss…the only way that our justice system can compensate victims for their suffering is through putting a dollar amount on the damage. It is not always fair that victims are limited to this type of compensation. Many times, victims want the person who caused the accident to get jail time. Often this doesn’t happen. Although sometimes we wish we could turn back time to undue what happened…we can’t. However, we at the Law Offices of Miguel Parlade realize the pain involved with these types of accidents, and discretely handle these cases affording the respect and attention each client deserves. |
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| Testimonials |
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Palm City family awarded $4 million in case of brain-damaged baby
March 26, 2009 - Palm Beach Post
March 26, 2009 - Sun-Sentinel
Read More |
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Palm City family awarded $4 million in case of brain-damaged baby
March 26, 2009 - Palm Beach Post
March 26, 2009 - Sun-Sentinel
Read More |
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Crane Johnstone Named a Finalist for Most Effective Lawyer – 12/8/08
Read More |
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