Facing an overwhelming amount of debt can be a difficult and stressful situation. Many people who are facing large debt often are not aware of all of their options to overcome this debt. However, bankruptcy remains a viable option for many that find themselves in this position. In addition, there are other alternatives that may be feasible solutions. This is why it is highly advised to seek the guidance of an experienced Aventura bankruptcy attorney prior to taking action against debt.
At Loan Lawyers, our Aventura bankruptcy lawyers have over 100 years of combined experience in bankruptcy law and foreclosure defense.
It is because of our passion, dedication, and proven track record of success that we have earned a distinguished reputation throughout South Florida in assisting individuals overcome their massive amounts of debt and get a fresh start financially.
The Bankruptcy Process
Depending on your specific circumstances surrounding your debt, there are different bankruptcy chapters that you can file under. Bankruptcy can be a complicated process for the everyday individual, which is why an experienced Aventura bankruptcy lawyer will be able to guide you on the right chapter to file under, and whether it is the best time to file for bankruptcy or not.
When you file under Chapter 7, you must first qualify by passing the Florida Means Test. If you are eligible to file, then you will most likely be required to liquidate your assets and use the funds from this to pay off your remaining debt.
When you file under Chapter 13, you are considered able to make monthly payments based on your current income and debt. In most cases, you will receive an extended timeline to repay your overall debt – typically three to five years.
When you file under Chapter 11, this means that your debt is too much to qualify for Chapter 13 and your income is too high to qualify for Chapter 7.
Most of the time, mortgages are the biggest causes of debt. With this option, Loan Lawyers will work to negotiate aspects such as reduced monthly payments, temporary pauses in payments, reduced interest rates, and more.
Contact Our Aventura Bankruptcy Lawyers
When you hire the services of our Aventura bankruptcy lawyers, you will receive top-quality service with extraordinary knowledge and experience. This allows us to ensure you have the top defense when it comes to overcoming your debt.
For more information, please contact us at 954-523-HELP (4357) today.