Bankruptcy Attorneys Boca Raton
If you live in the Boca Raton area and are struggling to pay off your debts, then you may want to consider filing for bankruptcy in order to get on your way to becoming debt-free. Because many people believe that bankruptcy has negative associations with it, people tend to drag out filing for bankruptcy. This can actually cause you to become further in debt and create more financial struggles for you. Bankruptcy is a given right for everyone who is a U.S. citizen to give them the ability to get on their feet financially. It is recommended to consult a Boca Raton bankruptcy attorney to figure out the best course of action for your specific situation so that you can start becoming debt-free as quickly as possible.
Understanding the Process of Bankruptcy
Filing for bankruptcy can turn out to be a very complicated matter for the average person. If you are debating whether or not to file for bankruptcy, then it is advised to consult with our Boca Raton bankruptcy lawyers so that you fully understand the process and all that is involved.
At Loan Lawyers, you can be sure that our Boca Raton bankruptcy lawyers will be by your side at every part of the process. We will help guide you on your various options when it comes to filing, and advise you on what we recommend as your next steps. We’ve helped thousands on their path to becoming debt-free by restructuring payment plans and even eliminating debts entirely.
When it comes to creating a new financial outlook for our clients, our bankruptcy attorneys in Boca Raton have years of experience with:
- Modifying payment schedules
- Minimizing asking prices for investment properties so that they have a better chance of being sold
- Eliminating second mortgages
Our skilled Boca Raton bankruptcy attorneys are more than happy to address any and all questions you may have before filing so that you feel 100 percent prepared.
Chapter 7 Bankruptcy
Filing for Chapter 7 bankruptcy can potentially free you from the burden of all your debts for an entirely fresh financial start. In order to qualify for chapter 7, you must pass the ‘Means Test’. This test compares your income to your expenses to determine your eligibility for this type of filing.
If you do qualify for Chapter 7, then you are able to have several kinds of debts forgiven including medical bills, personal loans, and credit card debt.
Due to the complexity of state laws and eligibility requirements for Chapter 7, it is highly advised to consult with a Boca Raton bankruptcy attorney to make sure you are moving forward with the best option for your specific circumstances.
Chapter 13 Bankruptcy
Chapter 7 has specific limits on earned income and due to this, many people are not eligible to file for it. If you do not qualify for Chapter 7, then you will most likely have to file a Chapter 13 bankruptcy claim. This type of claim asks for a modification to payment plans which includes an extended (usually 5 years) payment deadline. Chapter 13 provides protection for valuable assets such as homes, vehicles, and investment properties.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy was designed for people that have large amounts of outstanding debt or business owners that are struggling to repay loans. Chapter 11 bankruptcy offers many advantages for those filing, including the ability to keep their business open while minimizing financial losses.
Contact Our Boca Raton Bankruptcy Attorneys Today
Our Boca Raton bankruptcy attorneys offer free legal consultations. Contact us today at 954-523-HELP (4357) for more information on how we can help you through the bankruptcy process.