Miami Bankruptcy Attorney Blog

Clients that come see me tend to have one or two credit cards that they are current on.  These credit cards are typically low balance cards just for an emergency.  The client will usually ask me if they can keep these low balance credit cards after filing for bankruptcy in Florida, and unfortunately the answer to that question is NO.  Debtors will not be allowed to keep any credit cards they have, whether they are current, in default, or have been written off.

If you are worried about not having a credit card after filing for bankruptcy for an emergency use then it may be beneficial for you to get a secured credit card.   Otherwise you will be able to obtain credit card offers approximately three months after your bankruptcy case is over.

If you are thinking of filing for bankruptcy in the greater Miami-Fort Lauderdale area and would like to speak with a local bankruptcy attorney then please contact Ofer Shmucher at Shmucher Law, PL by calling 305.741.5553 or 954.309.5559.  We offer free consultations in our Miami office or any of our satellite offices (by appointment) including Boca Raton, Fort Lauderdale, Plantation, and Sunrise Florida.

I spend a lot of time looking at my website data, and one of the most common questions people type into Google is: what is the average price of a bankruptcy attorney in Miami, Florida?  Here is a breakdown of the fees required to pay in a Chapter 7 bankruptcy:

Filing Fee:
The filing fee is mandatory, unless a client gets a waiver (not likely), and is $299.00

Credit Report Fee:
Your attorney will need to run a credit report for you, and the fee varies by credit bureau but you can expect to pay anywhere from $35-50.

Pre-Filing Course Certificate:
Each debtor, prior to the filing of a bankruptcy, is required to take a budget and credit counseling course.  This course can range anywhere from $30-50, depending on where you take it online.

Post-Filing Course Certificate:
Each debtor, after the filing of a bankruptcy, is required to take a financial management course.  This course can range anywhere from $15-50, depending on where you take it online.

Those are the only mandatory fees that a debtor must pay for when filing for Chapter 7 bankruptcy in Miami, Florida.  However an attorney will likely charge you for their time, and usually this is a FLAT FEE.

Attorney Fees:
If you scour the internet, and make numerous phone calls, then you will find the prices for a local Miami bankruptcy attorney to range drastically.   This is likely because attorneys will quote on their website, one price, but then they forget to tell you about the other fees, listed above, or inform you that your case is a lot more complicated than that of a regular case and thus they will need to charge you more.  Prices in Miami range from $1,000 to $3,000, depending on the law firm.

Shmucher Law, PL Fees:
Our website fees are located directly on the main page of the website and are as follows:  For the majority of our cases (individual (not-joint), don’t own a business, one home, and don’t foresee anything exciting in a bankruptcy) then the attorney fee is $1,200 plus $30 credit report plus $299 filing fee for a grand total of $1,530.00 .

If you are thinking of filing for bankruptcy in South Florida and would like to schedule a free consultation with a local bankruptcy attorney then please contact Ofer Shmucher at Shmucher Law, PL by calling 305.741.5553 or 954.309.5559.  We offer free consultations in any of our office locations including Boca Raton, Fort Lauderdale, Miami, Plantation and Sunrise Florida.

A common question that my clients ask me is how long before I can buy a house, a car, or get credit cards.  The filing of a bankruptcy has a negative impact on your credit score and it will affect your ability to obtain credit.  If you are filing for bankruptcy and you are surrendering your home, you will likely need to be pro-active on finding a new place to live and rent.  Here are some tips:

Pre-Bankruptcy – If you know that you will be surrendering your home in the bankruptcy, then it may be a good idea to find a new home/apt and sign a lease before you actually file.  If you sign a lease before you file for bankruptcy then your credit report/score will not reflect a bankruptcy filing.

Post-Bankruptcy – If you start looking for places to live after you file bankruptcy then try to find apartments or homes owned by individuals rather than large apartment complexes.  An individual who runs your credit and notices that you have filed for bankruptcy may still be inclined to rent you a home based on your current job/financial status.  A large chain of apartments will likely use a computer to decide whether or not you will be able to rent from them and with a bankruptcy filing on your credit report the answer will almost always be no.

Co-Signer – If you can find someone to co-sign for you on a lease, then your ability to find an apartment increases drastically.  Hopefully the co-signer will have good credit and then the landlords will be more lenient on your credit report.

Purchasing a home – Don’t expect to be able to purchase a home immediately after bankruptcy.  Typically it will take between two to four years after bankruptcy before you will be able to obtain financing to purchase a home.

If you are thinking of filing for bankruptcy and have questions on how bankruptcy will impact your life please feel free to contact Shmucher Law, PL at 954.309.5559 or 305.741.5553.  Shmucher Law offers free consultations in bankruptcy offices located in Boca Raton, Fort Lauderdale, Miami, Plantation, and Sunrise Florida.

It seems that most Americans rely on their credit cards on a regular basis and people would find it very difficult to do their day to day operations without one.  One of the questions I hear all the time is once I file for bankruptcy will I ever be able to get a credit card again?   The answer to that question is absolutely yes.

A bankruptcy will be listed on your credit report for ten years but that doesn’t mean your credit score will be poor during that time.  More likely than not your credit score will actually INCREASE approximately 12 months after your bankruptcy case is over.

As for a credit card, debtors are usually offered credit cards approximately three to six months after their bankruptcy has been discharged.  However, debtors should be weary because these credit cards tend to have significantly high interest rates (20-30%).   Furthermore if a debtor again gets into trouble with these credit cards and cannot pay them, then they will not be able to file for bankruptcy again for another eight years.    By obtaining a credit card post bankruptcy the debtor will likely help increase his or her credit score on a faster basis as the credit card companies will report that the debtor is paying the debts.

An alternative for a standard credit card is to obtain a secured credit card.  A secured credit card is similar to a debt card because you pay in advance and then are able to use the card.  Example,  you sign up with Orchard Bank for one of their secured credit cards.  You pay in advance for the card for the amount you want to use ($500.00).  You then use the card and pay on it with the $500 you put down.  Every time you pay on the card the bank will report you to the credit bureaus.

If you are thinking about filing for bankruptcy and would like to discuss the consequences of doing so please contact Shmucher Law, PL at 954.309.5559 or 305.741.5553.  We offer free consultations in our offices located in Boca Raton, Fort Lauderdale, Miami, Plantation, and Sunrise Florida.