Thursday, January 28, 2016
Chapter 7 and Chapter 13 Bankruptcy
Bankruptcy Attorney Jordan E. Bublick is a Miami, Florida has over 25 years of experience in filing Chapter 13 bankruptcy (reorganization of mortgages and other debt) and Chapter 7 Bankruptcy cases (discharge of debt). He has filed over 8,000 bankruptcy cases. Jordan E. Bublick has been a member of the Florida Bar since 1983 and is a graduate of the Ohio State University College of Law (JD) and the New York University School of Law (LL.M.).
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is generally used by people who desire to discharge unsecured debt and who have little non-exempt property.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is used to reorganize mortgages and other secured debt as well as to discharge unsecured debt.
Chapter 13 bankruptcy is often used to stop a foreclosure action and proposed a plan of reorganization. Due to the decreased real estate values in South Florida, often a junior mortgage lien may be avoidable as an "unsecured debt."