Vero Beach Bankruptcy Lawyer

Chapter 7 and Chapter 13 Bankruptcy

Chapter 7 and Chapter 13 bankruptcies help debtors obtain a fresh start. Chapter 7 bankruptcy is typically used for debtors who have unsecured debts. Chapter 13 bankruptcy is typically used for debtors who have secured debts such as a home mortgage.

At Lulich & Attorneys, our Vero Beach and Sebastian lawyers understand the alternatives to bankruptcies and when bankruptcy is a debtor’s only option. To discuss your debt situation with an experienced Indian River County financial lawyer, call us at 772-589-5500 or fill out our contact form.

Lulich & Attorneys Vero Beach Lawyer Team
Vero Beach Bankruptcy Lawyers

Schedule an appointment with an Indian River County bankruptcy lawyer today

Chapter 7 Bankruptcy

In a Chapter 7, the debtor files a petition that lists all his/her assets and debts. Debts are generally categorized as:

Secured debts (e.g., a home or car).
Unsecured debts (e.g., credit card debt).
Priority debts (e.g., federal income taxes and child support).

Debtors who file a Chapter 7 must pass a means test to determine certain qualifications are met and are also required to take an approved debt counseling course before they file for bankruptcy.

Debtors can “exempt” some of their assets from seizure by the trustee. These assets include some equity in a debtor’s home, cars, tools, jewelry, personal possessions, some cash and accounts, and some other assets.

Debtors normally cannot file for another bankruptcy within 10 years of the date of the bankruptcy charge.

Chapter 13 Bankruptcy

Debtors who have secured assets or cannot meet the means test are required to file a Chapter 13 bankruptcy. In a Chapter 13, the debtor prepares a repayment plan to be paid within 3 to 5 years. The plan generally requires that the debtor:

• Pays the arrears on secured debts over the 3-to-5-year period.
• Continues to pay the monthly payments that are due.
• Pays a percentage of the unsecured debts during the length of the repayment period.

Debtors who file a Chapter 13 bankruptcy are entitled to an automatic stay. At the end of the 3-to-5-year repayment period, any unsecured debts remaining are discharged.

Schedule an appointment with an Indian River County bankruptcy lawyer.

Lulich & Attorneys Vero Beach Office

  • Phone: 772-589-5500
  • Address: 1612 20th Street, Vero Beach, FL 32960
  • Hours: M-F 8:30PM – 5:00PM

Call an Experienced bankruptcy Lawyer Today!

Google Reviews:

Lulich & Attorneys
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Judyanne Peltz
Judyanne Peltz
04:36 17 Sep 22
The lawyers and entire staff went way above and beyond to assist me with my... Probate case.Their expertise and knowledge is admirable! They are dedicated to providing their best to their clients. I would not hesitate to recommend the lawfirm of Lulich & Attorneys to anyone within hearing distance!read more
Donna Zappala
Donna Zappala
16:02 29 Aug 22
After an unexpected death in my family and being thrust into the personal... representative position, Lulich & Attorneys came to my rescue! They handled everything and walked me through the entire burdensome process. I must recognize Jayne Evol, who provided me with the utmost support one could ask for in this situation. Not only did she keep me informed, but listened to the variety of issues that seem to come up almost daily and calmly walked me through the entire process. Their real estate department handled the remote closing for the sale of the estate's home, which was located in another county with ease. Thank you to everyone at Lulich and Attorneys for all you did to help me in this difficult time!read more
21:22 07 Aug 22
This is 5 star legal business! Great attorneys who respond to ALL your... questions quickly (Jordan and Jeremiah). Staff member are second to none, friendly, always there for clients, willing to stay after hours if necessary!read more
Travis Beckett
Travis Beckett
15:15 01 Aug 22
I needed some lawyering done recently, and Jordan and his team were all over... it. He was quick to get on the ball, had a contract specialist on hand to consult, and billed me very fairly. He's also a great guy! 11/10 would hire more
Ron Sheppard
Ron Sheppard
21:10 07 Jun 22
Steve Lulich along with his son and staff did an excellent job handling my... estate probate case. Open and closed in six months. No surprises or grief.Highly suggest using this firm for any probate more
Team Rambala
Team Rambala
12:47 27 May 22
Great Office and Great Staff. Jordan is always available to answer a quick... question and extremely informative for our clients and their Real Estate or Legal needs. Highly recommend Lulich & Attorneysread more
LovetoServe Inc.
LovetoServe Inc.
02:10 27 May 22
Lulich & Attorneys has always been professional and reliable when giving us... advice for our nonprofit organization! They also show great care and involvement in the community!read more
Antonieta Pugliese
Antonieta Pugliese
01:50 27 May 22
We’ve used Lulich & Attorneys for our Real Estate investing transactions.... Communication is key and they have delivered every single time. We feel very comfortable every time we’re using their services because they’re very knowledgeable and we trust more
Sherri Sproch
Sherri Sproch
01:44 27 May 22
Jordan Lulich, Esq. is very community minded and pro-active bringing the real... estate community together with his informative breakfast and after- hours meetings. Once you meet him, you will understand his success. He is approachable and his responsiveness to clients' needs are just a few of his remarkable characteristics. He is rapidly receiving rave reviews throughout the community and so well more
Jayne Evol
Jayne Evol
14:19 08 Apr 22
Smooth sailing on my refi! Thank you Real Estate team!
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