Miami Florida Bankruptcy Blog

Posts Tagged ‘bankruptcy courts’

Many of my clients come to me only after putting themselves through unnecessary personal turmoil about seeking the protection of  Bankruptcy to relieve them from the bondage of debt.  So not only are they suffering financially, usually due to circumstances outside of their control, but they’re also suffering emotionally too.  But it doesn’t have to be that way!

There are many options a responsible bankruptcy attorney will help you consider.  And there are certain facts a thoughtful and considerate bankruptcy attorney will make you aware of  before just “putting you through the mill”.  So if mounting debts, specifically credit card bills, medical bills or foreclosure are threatening to pull your family under, you may want to consider bankruptcy as a way to push the “reset button” today.

If you’re feeling alone and depressed because you have problems with debt, cheer up — you’re in the company of the rich and famous.   As the following short list of famous Bankruptcy Filers confirms, anyone can find themselves unable to pay their bills.   A high income does not prevent you from financial problems.   This list proves that financial troubles don’t have to keep you down forever.   And the sooner you start the process, the sooner you’ll be able to look back one day and be glad that it’s over.  Most of these famous Bankruptcy Filers not only recovered financially, but many went on to earn great wealth after filing bankruptcy.

Partial List of Famous Bankruptcy Filers

• Lorraine Bracco – Actress (Dr. Melfi – Sopranos)
• Francis Ford Coppola – Film Director/Producer
• Walt Disney – Film Producer & Theme Park Pioneer
• Ulysses S. Grant – 18th U.S. President & Civil War General
• Johnny Unitas – Hall of Fame Quarterback

Don’t think that you are the only one going through this, you are not alone.  Take a deep breath.  Stop beating yourself up.   You need to know and understand that there is a way to deal with your financial difficulties.

Most Bankruptcy Filers don’t file because they were living high on the hog.  Sometimes it’s because they are up to their necks in medical bills.  Other times its because they or their spouse have lost a job.  Guilt and aggressive bill collectors often cause sleepless nights. For some, bankruptcy is the answer, for others, credit counseling or debt negotiation works. Each case is unique.

Here in the United States of America, our Founding Fathers recognized the importance of bankruptcy.  The U.S. Constitution provides our government with the right to make bankruptcy laws in order to give good people a “Fresh Start” when they get in over their heads because of circumstances beyond their control.

Everybody, not just big corporations and Wall Street have the right to get their own “personal bailout” from these hard economic times.  What options are there for you?

You can do nothing and hope the situation improves on its own.

Usually, ignoring the situation does not make it go away, no matter how much we want it to.  If you are in debt, every day that you do not take action to resolve the situation the amount of your debt increases.

You can contact your creditors and try to renegotiate your debts.

Sometimes, creditors will work with you, but many times they won’t or they will at very unfavorable terms.  It is always worth a shot to try and talk to your creditors and see if they are willing to work with you.

You can hire a lawyer to negotiate settlements for your debts.

Sometimes when creditors see that you have retained a lawyer to help you resolve your financial situation, they are more willing to work with you.  Sometimes they are not, again this is an option that is worth looking into.

You can get as second, third, fourth, etc. job to try to earn enough money to make your minimum monthly payments.

For most people this is not a viable option.  There either is not enough time in the day or you have other obligations that prohibit you from getting another job.

You can sell off valuable assets to try to raise money to resolve your debts

For most people this is not a viable option, as they won’t be able to raise enough money to make a difference.

You can evaluate whether or not bankruptcy is an option for your situation.

Bankruptcy is available to everyone in the United States who wants protection from their creditors.  You have the ability, today, to take control of your future, stop your creditors from harassing you and to get on with your life and back on the road to success!

Remember, doing nothing about your current financial situation does nothing to improve it.  Bankruptcy is an option if you are ready for it!

Matthew E. Mazur, Jr. Esq., is the managing shareholder of Matthew Mazur, P.A., a Coral Gables, Florida based law firm that represents clients in Bankrutpcy matters. For more information please visit www.coralgablesbankruptcyattorney.com.

Bankruptcy is a unique process for most people involved in it. Many things that you do are unfamiliar and can often be uncomfortable, if you have not been prepared for them. One of the key events in any bankruptcy filing is the 341 Hearing or Meeting of Creditors. If everything goes right this should be your only visit to the Bankruptcy Court!

The 341 Hearing is a relatively simple meeting. You will be in a hearing room with your attorney, the trustee, possibly some of your creditors or their attorneys and possibly an attorney from the U.S. Trustee’s office. There will also most likely be some fellow citizens who are there for their own bankruptcy hearings.

The Trustee is not a judge, but an individual who is charged with reviewing your bankruptcy petition and administering your bankruptcy estate. The 341 Hearing itself is usually a very simple question and answer process with the Trustee. The Trustee will typically ask you the following:

1. Did  you read your bankruptcy petition before signing it?

2. Why did you file for bankruptcy?

3. Some questions about specific aspects of your petition, debts, etc.

Then the trustee will then ask if there are any creditors present and allow any creditor or their attorney to ask you some limited questions about their specific debt. After that, typically you will be shown the “Green” Bankruptcy Information Sheet and asked if you have read it. It is very important that you read the Green Sheet before your hearing. In the Miami-Dade Bankruptcy Court, it is posted outside of the Trustee’s Hearing Room. It is provided in both English and Spanish.

The “Green” Bankruptcy Information Sheet provides you with one last explanation of the Bankruptcy Process. It is important that you read this sheet, even though you already know what is on it, because if you don’t the Trustee will make you go and read it and your 341 Hearing will be extended until you finish reading it. The bottom line is read it a head of time and your hearing will go much quicker.

At Matthew Mazur, P.A. we work with our clients to prepare them for their 341 Hearing. As a Miami Bankruptcy Attorney, I pride myself on having my clients prepared for their Meeting of Creditors and comfortable with the process before it ever happens. It is important for anyone going through a bankruptcy to be comfortable with the process because it can be a very uncomfortable situation to be in.

If you are thinking of filing for bankruptcy and would like more information, please visit our informational website for more information. At this website you will find useful information to better educate you about what bankruptcy has to offer.  If you would like to set up a Free Initial Consultation, contact our office today.

Matthew Mazur, P.A. represents individuals and families in Chapter 7 Bankruptcy and Chapter 13 Bankruptcy cases in Miami, Coral Gables, Pinecrest, Hialeah, South Miami, Homestead, Aventura, North Miami, Miami Beach, Coconut Grove, Palmetto Bay, Westchester, Kendall, Miami Gardens, Miami Springs, Sunny Isles, Bal Harbor, throughout Miami-Dade County, Weston, Hollywood, Plantation and Broward County, Florida.

Matthew E. Mazur, Jr. Esq., is the managing shareholder of Matthew Mazur, P.A., a Coral Gables, Florida based law firm that represents clients in Bankrutpcy matters. For more information please visit www.coralgablesbankruptcyattorney.com.