Services of Miller & Hollander

Miller & Hollander Bankruptcy Services

You have come to our web site because you are having financial problems. You want to know if declaring bankruptcy makes sense for you, what choices and options you have, what will happen if you do declare bankruptcy and what may happen if you do not.

You want to talk to a lawyer experienced in bankruptcy and financial problems and get sound legal advice. The law firm of Miller and Hollander concentrates its practice in bankruptcy law, asset protection and financial problems. We have practiced bankruptcy law for more than 35 years. Our law firm’s attorneys practice only bankruptcy law. We have filed the most consumer bankruptcies in Southwest Florida.
There are four different types of bankruptcy for individuals and businesses which are:

1. Chapter 7 for both individuals and businesses. A Chapter 7 is a straight liquidation bankruptcy.

2. Chapter 11 for both individuals and businesses. A Chapter 11 is an individual or corporate reorganization.

3. Chapter 12 for family farmers or fishermen. A Chapter 12 is a personal or corporate repayment plan for family farmers or fishermen.

4. Chapter 13 for individuals. A Chapter 13 is a repayment plan for individuals of regular income, including sole proprietorships. There are dollar limitations on the eligibility to file a Chapter 13.

People who are having trouble paying their debts sometimes consider bankruptcy as a remedy. The reason that an individual usually files bankruptcy is to obtain a discharge. Generally, a discharge will negate your personal obligation to repay your debts so that they will not have to be paid. Upon discharge creditors will be unable to collect those debts. Your creditors will have no claim on your future income, property or assets.

A bankruptcy discharge will negate your personal obligation to pay mortgages or liens; however a discharge does not remove the lien or mortgage from the property. If you want to keep your home, car or property that has a lien, generally you must continue to make the payments on the home, car or property.

If you want to keep your home you will have to continue the payments on the mortgage. If you have more than one mortgage on your home, it may be possible to remove a second mortgage or home equity loan from your property. This will depend on your individual facts and circumstances. Also, a bankruptcy may allow you to cure an arrearage on your home mortgage or car.

You may want to keep your car or other property that has a lien, such as furniture. If so, you must continue to make the payments. Depending on your type of bankruptcy, your creditor may want you to redeem or reaffirm certain obligations in order to retain some of your property.

The law allows you to keep certain property which is called exempt property. We will explain your exemptions to you. In a Chapter 13 bankruptcy you may keep the property that you own. However, if you want to keep property that you own and it has a lien or mortgage on it, in order to keep it you will have to continue to pay the lien or mortgage.

In a Chapter 7 bankruptcy, in return for having your debts discharged, you must either turn over to the Chapter 7 trustee in bankruptcy all of your nonexempt property or you may be able to repurchase your nonexempt property back from the Chapter 7 trustee for an agreed price over a reasonable period of time not exceeding 12 months without interest.

If you do not buy the property back from the trustee, the trustee will then sell your nonexempt property which has been collected and distribute the proceeds to your creditors according to priorities established by law. Very often there is not enough money to pay for anything more than the costs of administration, and your creditors will receive nothing.

You can be denied a discharge. This is rare however if you honestly and completely disclose all of your assets and liabilities. We will ask you many questions in order to help you remember all of your assets and liabilities and help you make a full and complete disclosure as is required by the bankruptcy law. Some of the reasons for being denied a discharge are the fraudulent transfer of an asset to keep it away from your creditors or the bankruptcy trustee, concealment of assets, disobeying the Court, making a false statement to the Court, or failing to make payments to the trustee. Some of these acts may also constitute federal crimes for which a debtor can be fined or imprisoned.

Certain types of debts, such as child support, alimony, some taxes and student loans are not discharged in bankruptcy. Also, a creditor who has been willfully injured or defrauded may have the debt excepted from discharge, such as a credit card company with a claim for charges made when you had no intent or ability to repay. We will discuss with you each of these situations if they are relevant to you and your options in that event.

Remember, that the key to any bankruptcy is a full and complete disclosure of what you own, what you owe, or anything that may
be owed to you.