Miami – North Miami – Aventura (305) 891-4055
Bankruptcy Attorney Jordan E. Bublick
Jordan E. Bublick has been a practicing chapter 7 and chapter 13 bankruptcy lawyer for over 25 years in the Miami area and is a graduate of the New York University School of Law (LL.M.) and the Ohio State University College of Law (J.D.).
Chapter 13 Bankruptcy
Chapter 13 provides an “automatic stay” against creditor actions and gives a person the time to work with their bankruptcy lawyer to formulate a chapter 13 plan to reorganize their debt — such as mortgages, association liens, property taxes, income taxes, and credit card debt under a chapter 13 plan. Also, chapter 13 is used by those for whom chapter 7 is not appropriate, usually those with a significant amount of non-exempt property or those who do not “pass” the chapter 7 “means test.”
Chapter 7 Bankruptcy
Chapter 7 is usually used by individuals with little non-exempt property and lower incomes. But sometime persons who qualify for chapter 7 need to file a chapter 13 case as they have the need to reorganize or modify their mortgage. Also, “underwater” mortgage
Mortgage Modification Mediation Program
As part of a chapter 13 bankruptcy case, you are able to use the Bankruptcy Court’s “MMM” Program (Mortgage Modification Mediation). In this way, you are able to address financial issues in one plan – first mortgages, second mortgage, credit cards, IRS debt, etc.
It is often easier to obtain a mortgage modification under the MMM Program as you are able to communicate directly with the mortgage lender over a special internet portal and also due to the assistance of the mediator appointed by the Bankruptcy Court.