Bankruptcy Attorney West Palm Beach FL

Bankruptcy Basics from Our Bankruptcy Attorney West Palm Beach FL

Congress enacted the Bankruptcy Code in 1978 which is the uniform federal law that governs all bankruptcy cases. The Bankruptcy Code and Bankruptcy Procedural Rules (National and Local) set forth the formal legal process for dealing with the debt problems of individuals and businesses.

By enacting the Bankruptcy Code, Congress’ intent was to Congress is to give debtors a financial “fresh start” from burdensome debts. The United States Supreme Court made this point about the purpose of the bankruptcy law in a 1934 decision stating “it gives to the honest but unfortunate debtor…a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.” Local Loan Co. v. Hunt, 292 U.S. 234, 244 (1934). The fresh start is also known as a “bankruptcy discharge”, an order of the Bankruptcy Court which formally releases debtors from personal liability from specific debts and prohibits creditors from ever taking any action against the debtor to collect on those debts.

Griffiths & Smitherman, P.L. trusted Bankruptcy Attorneys in West Palm Beach, helps debtors with filing bankruptcy in Florida and for two types of bankruptcy relief, Chapter 7 and Chapter 13. In filing either chapter, the process is similar and we will walk you through the process step by step to insure you are completely comfortable – we know how overwhelming charting unknown territory can be!

Bankruptcy Attorney West Palm Beach FL – What To Expect From Your West Palm Beach Bankruptcy Attorney

Here is a quick rundown of the players and main events:

• United States Trustee:
  This is a department of the United State Department of Justice that is responsible for overseeing the administration of your bankruptcy case and the local Trustees. They monitor the conduct of all parties to the bankruptcy case and ensure compliance with applicable laws and procedures. They also investigate bankruptcy fraud and abuse in connection with the United States Attorneys and the Federal Bureau of Investigations. As long as you have been honest in seeking bankruptcy relief you will have no interaction with this department during your bankruptcy.
• Florida Bankruptcy Trustee:
  This is an individual appointed by the United States Trustee who will oversee your bankruptcy case directly. There are several Trustees per Judicial District and cases are assigned to them on a blind rotation. This is the individual who is responsible for reviewing your request for bankruptcy relief and either administering your nonexempt assets (that sounds a whole lot scarier than it really is) to your creditors in a Chapter 7 or ensuring all of your disposable income is being utilities in your Chapter 13 plan. The Trustee does not have the final word but they are the individual who will make recommendations to the Bankruptcy Judge on any disputed issues. Although the Bankruptcy Trustee’s job is to make sure all available assets and/or monies are appropriately given to your creditors, they are mostly reasonable, and a good attorney should be able to help you resolve any issues with the Trustee’s office without having to go before the Bankruptcy Judge.
• Florida Bankruptcy Judge:
  The Bankruptcy Judge is the court official with the final decision making power in your case. The Judge can decide whether you are eligible for bankruptcy relief, whether you should receive a discharge or not, etc. In reality, the Bankruptcy Judge’s role is relatively limited in a Chapter 7 or Chapter 13 as most of the process is administrative and is conducted away from the courthouse. It is a very rare case where you as the debtor will have to appear in front of the Bankruptcy Judge.
• §341 Meeting of the Creditors:
  About thirty days after you file for bankruptcy relief, in either a Chapter 7 or Chapter 13, you will attend what is called a Section 341 Meeting, also known as the Meeting of the Creditors. This is generally the only formal proceeding at which a debtor must appear. This meeting is where your creditors and the Bankruptcy Trustee are given the opportunity to question you about your debts and property. In reality, creditors rarely, if ever, show up at a Meeting of Creditors. If your bankruptcy filing was handled properly and your petition and schedules are thorough and clear, the Meeting of the Creditors generally lasts five minutes or less

Filing Without A Bankruptcy Attorney in West Palm Beach FL

Filing a bankruptcy in Florida is incredibly complicated and is governed by several set of evolving rules and regulations.  The rules are technical and a misstep can affect your rights to receive a discharge or can cost you the loss of valuable property.  Most important to understand is the fact that bankruptcy has long-term financial consequences.  As such, making the decision to file for bankruptcy should not be made lightly and should only be made with a complete understanding of all of your options.  Therefore, although an individual may represent him or herself in a bankruptcy, the hiring a competent attorney is strongly recommended.

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Elizabeth Smitherman Rivera, Esq.

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