Bankruptcy need not mean losing your property and completely starting over. The right lawyer can help you reorganize your debt in a way that relieves some of the financial burden you currently face, without forcing you to move or get rid of desired assets. The Law Offices of Samir Masri is a great resource to turn to as you determine which bankruptcy option is best for your specific situation.
What Is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy involves the reorganization of debt in the interest of retaining secured assets. It is a common solution for debtors who do not qualify for chapter 7 bankruptcy. Typically, those involved in chapter 13 propose a plan for repaying some or all of their secured debts, ideally within five years of filing.
Why Choose Chapter 13 Bankruptcy?
If you need relief from overwhelming debt but do not wish to lose your car, home or other property, or want to eliminate a second mortgage or Home Equity Line of Credit it may be in your best interest to restructure your debts through a Chapter 13 Bankruptcy Case. Depending on your current financial situation, you may qualify for the Mortgage Modification Mediation Program, which is designed to streamline the mortgage modification process in order to save your home or other real property.
The Mortgage Modification Mediation (MMM) is a program that is available to individuals who file Bankruptcy and allows them the opportunity to obtain a modification of their mortgage to save their home from foreclosure. One of the many benefits of the MMM program is that you will be under the Automatic Stay protection of the Bankruptcy Code, which means that the Bank cannot foreclose on your property while you are in the MMM program. Also the modification process is streamlined through the supervision of the Bankruptcy Court.
How the Law Offices of Samir Masri Miami / Fort Lauderdale Bankruptcy Law Firm Can Help
Attorney Samir Masri is an experienced Chapter 13 Bankruptcy lawyer who can help you determine whether Chapter 13 is a viable solution for your debt problem and whether you qualify for the Mortgage Modification Mediation Program. Additionally, our office will guide you throughout the Bankruptcy process, from the filing of your case through the Discharge completion of your case. In the event that you encounter an adversary proceeding or other issue in your case, our office will provide the high quality representation you require.
If you currently face significant financial struggles but do not want to give up your home, car or other assets it may be in your best interest to pursue a Chapter 13 Bankruptcy reorganization plan.
Attorney Samir Masri is happy to assist you in determining whether Bankruptcy is a viable for your situation. Call the Law Offices of Samir Masri today to learn more about a Bankruptcy solution.