Bankruptcy – Chapter 7 – Chapter 13

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 Bankruptcycropped cropped AIbEiAIAAABECI PuaL62ofYgwEiC3ZjYXJkX3Bob3RvKigwZTI0MWRhNjJlYTFkMjkxZDg5Yjg3ZGFlNTRlZDczNjc5NDRjZGMxMAGCM47dJjHCkbg33zFLVGMmYBnqXQ21 Chapter 7  and 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.