Joseph Kurt Kaple Bankruptcy Law Blog on Lawyers.com
Is Chapter 7 bankruptcy better than Chapter 13?
Friday, April 10, 2009 by Joseph Kurt Kaple
Experienced Miami bankruptcy lawyer, Joseph Kurt Kaple, of The Kaple Law Firm in Aventura, Florida helps individuals understand the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy in Miami.
Most people prefer Chapter 7 in Miami because it doesn't require you to repay any portion of your debt, and can be effective 3-6 months upon filing. With Chapter 13 in Miami, you must perform a 3-5 year repayment plan before remaining balances are discharged.
When you file bankruptcy in Miami, under Chapter 7 you could lose your property, although typically you do not. But you have to qualify, which means if your income is sufficient to fund a Chapter 13 repayment plan, then you don't qualify.
Please consult with experienced Miami bankruptcy lawyers for specific evaluations.
The Kaple Law Firm
18851 N.E. 29th Avenue, Suite 700
Aventura, FL 33180
Phone: 305-749-3158
Toll Free: 866-675-5110
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