We have worked tirelessly for our clients for years, guiding businesses and individuals through the bankruptcy process with experience and knowledge. Bankruptcy can be a daunting prospect, and the last thing anyone needs is judgment or ridicule for their financial predicament.

Not only does RISE UP LEGAL | Attorneys-at-Law utilize logical and best practices for your situation, but we also treat you as a human being throughout the whole process. Schedule your free consultation for our true $0 down bankruptcy today, and reclaim control of your financial future.

In a bankruptcy situation, an attorney can help with many aspects of the process, including:

• Letting you know if you qualify for filing for bankruptcy in the first place.
• Explaining basic bankruptcy rules, practices, and measures with you.
• Advising which chapters under which to file.
• Letting you know what property you can retain after filing.
• Laying out the possible effects on your taxes due to filing.
• Advising whether you should keep paying creditors/lenders.
• Aiding you in completing and filing bankruptcy and court forms.

While it is certainly an option available to you to file for bankruptcy without an attorney (also referred to as “filing pro se”), we highly recommend that one connect with and hire an expert legal team as soon as possible when faced with a bankruptcy filing. Pro se bankruptcy litigants are certainly capable of filing independently but lack the guidance and security associated with having a professional on their side.

We pride ourselves on exceptional knowledge of bankruptcy law in Florida, but we do have a specific sphere of influence in which we operate. Please note that none of this information qualifies as legal advice but rather as a general overview of our services:

• Wipeout or Chapter 7 — This is, as the name suggests, a thorough and total liquidation of non-exempt assets, as well as a discharge of non-secured debts. This type of bankruptcy would be suitable for a person trying to settle unsecured debts such as hospital invoices/costs or credit card payments/balance without an advantage such as a house with zero mortgage payments or other property to leverage. Our attorneys will have you complete a test to see if you qualify, based upon your household occupancy size and yearly salary level.
• Partial Reimbursement or Chapter 13 — If you have assets or property (like a home or car) you would like to keep, this might be the best option for you. Cain Attorneys will design your case so you can still retain your property and pay off your debts in the meantime.
• Small Business or Subchapter V — This is an exciting new type of directive enacted into law in the wake of Covid-19. This tool helps small business owners by protecting their small businesses against the financial ramifications of the pandemic.

• Ability to restructure loans that were secured by collateral
• Ability to shed leases and overly burdensome contracts
• Ability to pay a small fraction of what was initially owed to unsecured creditors

• More than half of your total debt must be classified as “business” debt.
• Tour total debt usually cannot exceed $7,500,000.
• You must currently be engaged in commercial business activity.
• Your proposed repayment plan must be “fair and equitable.”

*NOTE: this is not an exhaustive list, so we will discuss any remaining qualifications during your consultation.

As with any bankruptcy, there are associated costs with filing a Subchapter V bankruptcy. The court fee is around $1,170, and there is an additional administrative fee of $550. However, courts are being exceptionally lenient during the current pandemic, allowing payment plans after filing to cover these costs, sometimes as low as $290 per month. This does not include attorney’s fees or charges you may incur from your accountant, as well as others.

RISE UP LEGAL | Attorneys-at-Law provides robust bankruptcy representation to business owners across all industries facing insurmountable debts. Remediating the situation is crucial because carrying excessive debt can gradually erode a business’s long-term viability.

Some business owners saddled with too much debt may be unable to leverage their assets effectively, meet their day-to-day financial responsibilities, or secure financing in the short term or long term due to excessive debt. Our team can help these business owners regain control over their corporate finances and find relief through the Chapter 11 bankruptcy program.

Chapter 11 of the Bankruptcy Code includes many special provisions created specifically to help small business owners overwhelmed by debts they cannot handle repaying.

To qualify for Chapter 11, the filing party must be a commercial or business enterprise with a total debt of less than $2,343,300 in secured and unsecured debts. Filing for Chapter 11 bankruptcy offers many strategic benefits to a small business owner, including:

• Administrative Expediency
• Potential Conditional Approval of Disclosure Statement
• No Need to Appoint a Committee of Creditors
• Additional Time to Prepare a Debt Repayment/Reorganization Plan

In tailoring bankruptcy law to meet the economic realities of family farming and the family fisherman, Chapter 12 eliminates many of the barriers such debtors would face if seeking to reorganize under either Chapter 11 or 13 of the Bankruptcy Code.

For example, Chapter 12 is more streamlined, less complicated, and less expensive than Chapter 11, which is better suited to large corporate reorganizations. In addition, few family farmers or fishermen find Chapter 13 to be advantageous because it is designed for wage earners who have smaller debts than those facing family farmers.

If a full bankruptcy case is initiated by a foreign representative (when there is a proceeding pending in another country), bankruptcy court jurisdiction is generally limited to the debtor’s assets that are located in the United States. 11 U.S.C. § 1528.

This limitation promotes cooperation by limiting the assets subject to U.S. jurisdiction.

Chapter 15 also provides rules to further cooperation where a case was filed under the Bankruptcy Code prior to recognition of the foreign representative and for coordination of more than on foreign proceeding. 11 U.S.C. §§ 1529.