Best Restructuring & Insolvency Lawyers in Hialeah

1. About Restructuring & Insolvency Law in Hialeah, United States

Restructuring and insolvency law in Hialeah centers on how individuals and businesses manage debt when they cannot pay in full. The main pathways are Chapter 7 for liquidation, Chapter 11 for reorganization, and Chapter 13 for a court supervised repayment plan. In Florida, debtors also navigate state exemptions that protect property during bankruptcy. For residents of Hialeah, filings are heard in the U.S. Bankruptcy Court for the Southern District of Florida, typically in the Miami Division. This court coordinates with federal procedures that govern creditors, trustees, and debtors throughout the process.

Chapter 11 often applies to businesses seeking to restructure debt while continuing operations, while Chapter 7 focuses on asset liquidation to satisfy creditors. Chapter 13 allows individuals to repay a portion of their debts over three to five years under a court approved plan. In Florida, exemptions such as the homestead and personal property protections play a key role in what remains with the debtor after liquidation. These rules create a framework for negotiating plans, handling creditor claims, and obtaining discharge when appropriate.

“The Bankruptcy Code is federal law, and it governs all bankruptcy cases in Florida, including Hialeah.”

2. Why You May Need a Lawyer

These are concrete, real-world scenarios in Hialeah where you likely need experienced legal counsel.

• A family-owned restaurant in Hialeah faces a debt load that threatens closure, and the owner seeks relief under Subchapter V of Chapter 11 to reorganize while keeping the business open.
• You own a small business in Miami-Dade County with only a few creditors and limited cash flow, and you want a structured plan that maximizes value for creditors while preserving ongoing operations.
• Your home in Hialeah is at risk of foreclosure and you need to understand how Florida exemptions and the bankruptcy automatic stay interact with state and local mortgage priorities.
• A consumer creditor is garnishing wages for medical or credit card debts, and you need to halt collection actions temporarily while evaluating discharge options.
• You want to protect important household assets and determine what property can be exempted under Florida law during a bankruptcy case.
• You are considering a Chapter 11 or Chapter 7 filing for a complex business arrangement and need help preparing schedules, disclosures, and a credible reorganization plan.

In each scenario, a local bankruptcy attorney or restructuring lawyer can assess eligibility, discuss filing strategies, and guide you through the 341 meeting, plan confirmation, and discharge process with practical timelines tailored to Hialeah and the Southern District of Florida.

3. Local Laws Overview

Two to three jurisdiction-specific laws or regulations govern restructuring and insolvency in Hialeah, including federal bankruptcy provisions and state exemptions. The following provide essential context for filings in Hialeah.

• 11 U.S.C. Title 11 - Bankruptcy Code (federal law governing bankruptcy cases nationwide, including Florida). It sets out chapters, processes, automatic stays, creditor rights, and discharge rules. Recent developments include the Small Business Reorganization Act creating Subchapter V for small businesses. For the text, see https://uscode.house.gov/view.xhtml?path=/prelim@title11&edition=prelim.
• Small Business Reorganization Act of 2019 (SBRA), Pub.L. 116-54 - creates Subchapter V within Chapter 11 to simplify small business reorganizations and reduce costs. Effective February 2020, this reform affects how small Florida businesses in Hialeah approach reorganization. See https://www.govinfo.gov/content/pkg/PLAW-116publ54/html/PLAW-116publ54.htm for the statute details.
• Florida Statutes Chapter 222 - Exemptions - defines property exemptions available to debtors in bankruptcy, including personal property and some homestead protections. Official text is available on the Florida Legislature site at https://www.flsenate.gov/Laws/Statutes.

In addition, debtors in Hialeah must comply with the Local Rules of the U.S. Bankruptcy Court for the Southern District of Florida and file petitions in the appropriate division, typically the Miami Division for Hialeah matters. For general information about bankruptcy procedures, consult the U.S. Courts’ Bankruptcy Basics resources at https://www.uscourts.gov/about-national-centers/publications/bankruptcy-basics.

4. Frequently Asked Questions

What is the difference between Chapter 7 and Chapter 11?

Chapter 7 is liquidation and discharge of unsecured debts, with most assets sold by a trustee. Chapter 11 is a reorganization process allowing a business or individual with substantial debts to propose a plan to repay creditors while continuing operations.

How do I decide between Chapter 7, 11 or 13 in Florida?

Decision depends on assets, income, debt type, and the desire to keep a business or home. A local attorney can assess eligibility, exemptions, and long-term goals to choose the right path.

What is the automatic stay and how does it help me?

The automatic stay halts most collection actions once a bankruptcy petition is filed. It buys time to organize finances and reduce pressure from creditors.

What documents should I gather for a consultation?

Expect to collect tax returns, debt statements, asset lists, mortgage and lease documents, and recent paycheck stubs. Having these ready speeds up the process.

Do I qualify for Chapter 7 in Florida?

Qualification depends on income relative to the Chapter 7 means test, and whether you have non-exempt assets. An attorney can run the test with your specifics in Hialeah.

What is Subchapter V and who benefits from it?

Subchapter V is designed for small businesses seeking a simplified Chapter 11 reorganization. It reduces costs and speeds up plan confirmation for qualifying entities.

How long does a Chapter 11 case typically take in Florida?

Timeframes vary with complexity, but a straightforward Chapter 11 may take 6 to 18 months from filing to plan confirmation, depending on creditors and assets involved.

What are the costs of hiring a Restructuring & Insolvency attorney in Hialeah?

Costs vary by case complexity and the attorney's rates. Many firms offer initial consultations and flat-fee components for specific tasks, with monthly fees during ongoing cases.

What is a 341 meeting and when does it occur?

The 341 meeting is a creditor meeting held after filing where the debtor answers questions under oath. It typically occurs 4 to 6 weeks after filing, depending on the case.

Can I keep my home if I file bankruptcy in Florida?

Florida exemptions may protect your principal residence to an extent, but protection depends on equity and mortgage status. A Florida-licensed attorney can map your exemptions precisely.

What is the difference between a lawyer and an attorney for bankruptcy matters?

The terms are often used interchangeably in the United States. In practice, a local Restructuring & Insolvency attorney or bankruptcy attorney represents you in court and negotiations.

5. Additional Resources

These official resources provide guidance on bankruptcy procedures and protections in Florida and nationally.

• U.S. Courts - Bankruptcy Basics - Offers consumer-focused overviews of bankruptcy, including steps, forms, and general timelines.
• Small Business Reorganization Act of 2019 (SBRA) - Public Law 116-54 - Details the SBRA framework for small businesses, including Subchapter V provisions.
• Florida Statutes - Exemptions - Official state text governing debtor exemptions in bankruptcy proceedings.

6. Next Steps

1. Assess your goals and whether you want to preserve a business or restructure personal debt. Write down your top priorities and constraints, such as keeping the home or avoiding liquidation.
2. Identify a Hialeah-based or Miami-Dade County bankruptcy attorney or restructuring lawyer with experience in the relevant Chapter (7, 11, or 13). Schedule initial consultations within 1-2 weeks.
3. Gather key documents and financial statements. Prepare tax returns, debt ledgers, asset lists, mortgage documents, and recent pay stubs before meetings.
4. Have an initial consultation to determine the right filing option (Chapter 7, 11, or 13) and understand potential exemptions in Florida. Discuss costs and timelines.
5. Decide on a filing strategy, prepare schedules, and file with the U.S. Bankruptcy Court for the Southern District of Florida, Miami Division. Plan for the 341 meeting to occur 4-6 weeks after filing.
6. Implement the chosen plan, including any plan confirmations, creditor negotiations, and compliance with ongoing court obligations. Review exemptions with your attorney to protect eligible property.
7. Monitor progress and adjust strategy as needed. After discharge or plan completion, review post-bankruptcy financial planning to prevent future default.