Your Trusted Attorney for Foreclosure and Bankruptcy in Volusia County
Michael P. Kelton is a trusted local attorney in Deltona, DeLand, and the surrounding Volusia County area, with extensive knowledge of bankruptcy and foreclosure cases. As an experienced legal professional, Mr. Kelton can help you understand your rights when considering if bankruptcy is the best solution for your situation.
What is Bankruptcy?
Bankruptcy is designed to help individuals and businesses eliminate all or part of their debt when they are unable to pay the debt themselves. The right to file for bankruptcy is provided by federal law and intended to give immediate relief to those struggling with bills and unmanageable debt. Bankruptcy’s immediate relief, known as the “automatic stay,” stops aggressive creditors’ and their phone calls, and stops foreclosure sales, vehicle repossessions, and pending evictions. Except for a few debts considered non-dischargeable, a bankruptcy discharge will eliminate all of a person’s debt, no matter how old the debt may be. Bankruptcy can provide a person with the time needed to eliminate old debt and sort out their finances, and help them get the fresh start they deserve.
Mr. Kelton finds bankruptcy law to be one of the most rewarding areas of law he practices, because of the positive effect it has for his clients. Mr. Kelton is often told by his bankruptcy clients that filing for bankruptcy made them feel like a tremendous weight had been lifted from their shoulders. For many, filing bankruptcy eliminates the constant anxiety and worry that accompanies overwhelming debt and allows them to have a positive outlook again on their financial future. At Kelton Law, P.A., we find it a pleasure and a privilege to represent clients through the bankruptcy process and to help them get the fresh start they deserve.
We invite you to contact us to schedule a free consultation so that we may help you determine if bankruptcy is right for you.
What is a chapter 7 bankruptcy?
A chapter 7 bankruptcy is the most common type of bankruptcy filed by individuals and results in a discharge of your debts in exchange for the liquidation of your property, except for property the law has deemed to be exempt from liquidation. In most cases though, all of a person’s property is exempt from liquidation and they will receive the discharge of their debts without having to turn over any property to their creditors. You are also allowed to keep your property subject to a loan, such as a house or car, so long as you can afford to make the payments and it is in your best financial interest to do so. In the alternative, a chapter 7 bankruptcy will also allow you to surrender a vehicle and discharge the debt if you no longer wish to be burdened by the loan and its high monthly payments.
What is a chapter 13 bankruptcy?
If your income is above the median family income for a household of your size, you may have to file a chapter 13 bankruptcy case. Determining if you qualify for a chapter 7 bankruptcy or if you must file a chapter 13 bankruptcy, requires the completion of a complicated means test designed to determine what monthly disposable income is available, if any, to pay back some or all of a person’s debt. If your monthly disposable income is above a certain threshold, as determined by your income, household size, expenses, and a variety other factors, you may be required to file a chapter 13 bankruptcy, wherein you make payments to the Chapter 13 Trustee for a period of 3 to 5 years. At the completion of a chapter 13 plan, the remaining debt will be discharged.
What qualifies someone for a chapter 7 bankruptcy and what requires someone to go through a chapter 13 bankruptcy can be complicated to determine and should be handled by an experienced attorney. If you are interested in filing bankruptcy, or simply have a few questions about the process, please feel free to contact us to schedule a free consultation so we can help you determine your options.
What is Foreclosure?
When a homeowner falls behind on their mortgage payments, the lender may seek to have the property sold at a public auction to satisfy the unpaid loan. The legal process a lender must go through is known as foreclosure. In Florida, foreclosures are processed through the Courts and can take many months to complete before a public auction is scheduled. This benefits homeowners because it provides them the time needed to explore the many options available that could help them avoid foreclosure and the sale of their home. If you are facing foreclosure or even if your home is currently being foreclosed, it is important to know you may still have options to save your home. The sooner you act, the more options that will be available to you.
Facing a Foreclosure Proceeding? Kelton Law, P.A. Can Help
Having the right legal strategy could avoid foreclosure and save your property. Kelton Law, P.A. represents clients in all stages of foreclosure, including responding to foreclosure lawsuits, exploring loss mitigation and loan modification options, and representing clients in Court for all matters related to the foreclosure. Mr. Kelton ensures that his clients’ rights are protected and they are treated fairly under the law. Throughout the foreclosure process, Mr. Kelton serves as his clients’ trusted legal adviser and ensures his clients understand each step of the case. With all of his clients, Mr. Kelton, makes it a priority to break down the complexities of each client’s situation and explain the law to them in easy-to-understand and practical terms.
You Have Options for Florida Bankruptcy and Foreclosure Matters – Contact Kelton Law, P.A.
Know the options available to you when facing bankruptcy or foreclosure. To help make these critical decisions, consult an experienced bankruptcy and foreclosure attorney. To schedule an appointment, please call either of our offices, conveniently located in Deltona and DeLand.