“Start fresh eliminate your debts.”

Many people believe bankruptcy is not an option for them. However, after the Bankruptcy Abuse Prevention and Consumer Protection Act was passed in 2005, now for many people that is an option and that the system has been modified to protect the creditors, as well as the debtors. Here at Vellón Law Firm, Arlene Vellón works endlessly to assure that her clients receive and achieve the fresh financial start they are looking for.

The two main chapters the firm emphasizes are:

Chapter 7 bankruptcy

  • Also known as liquidation bankruptcy. It permits qualified individuals to sell certain assets to repay as much debt as possible before negotiating with creditors to forgive the balance of the loans.
  • The debtor must actually enter a reaffirmation agreement for a personal property secured creditor. That’s mean that you no longer will have personal responsibility for paying your debts and your credit report will not reflect the benefit of regular payment.

Chapter 13 bankruptcy

  • Also known as wage earners bankruptcy. It is designed specifically for individuals who have enough income after fixed expenses to repay all debt after renegotiating the terms of the debt with each creditor.

Guiding You Through the Intricate Process

Filing any chapter of bankruptcy involves an elaborate set of requirements that must be followed stringently to guarantee that the debtors are successful in achieving a fresh financial start which they are in need of. Prior to submitting forms to the court, filers must complete a debt counseling program that is outlined to better comprehend the debt and aid them to avoid the initial cause of the financial concern. Arlene M. Vellón, an Orlando Bankruptcy lawyer, is a debt relief agency practicing Bankruptcy law in the Middle District of Florida. Ms. Vellón has successfully represented individuals in the United States Bankruptcy Court, eliminating debts through bankruptcy and starting a fresh financial life. Our law firm provides you with a free initial consultation with an experienced competent Florida bankruptcy lawyer. Ms. Vellón will review your entire financial situation and advise you of your different options. You will then be able to make an informed decision as to whether filing for bankruptcy relief is your best option. Once you have retained us to represent you in your case, we will begin working on your bankruptcy case immediately. We inform creditors that you are represented by a Bankruptcy lawyer and that they are required to cease all harassing phone calls and attempts to collect outstanding debts. After your bankruptcy case if filed in the United States Bankruptcy Court, creditors will receive notice of your bankruptcy case and are legally prohibited from taking any further collection action against you. Bankruptcy may also stop home foreclosure actions and the repossession of your property. Filing for bankruptcy can stop most wage garnishments and, in some instances, get back some or all of the money that has been taken from your paycheck. Also, in most cases, prevents future garnishments for unpaid debts that existed at the time you filed for bankruptcy.

Different options that you have with the bankruptcy:

Reaffirm Agreements, the new contract or legal promise to keep a specific debt even though your other obligations will be gone.

For example:

  • You want to keep the property and you can pay for it.
  • You can’t get another property for a cheaper amount.
  • You can keep the payments current.
  • You need to protect a ” co-debtor”

Don’t Reaffirm Agreements, when you can get another property for less money or when you can’t afford to pay for it.

For example:

  • The debt is totally unsecured by any property.
  • The creditor cannot provide any document to indicate that the debt is secured.
  • You don’t want to keep the property and prefer to give it back to creditor.
  • You are behind on payments and the property has a probability to be repossessed.

Vellon Law Firm will work your situation individually according to your needs and expectations giving you the proper legal advice, the best service and personal attention throughout the process.