Deerfield Beach Bankruptcy Lawyers
All too often, people hold off on filing for bankruptcy due to feelings of shame and embarrassment. Bankruptcy is actually a given right to every American citizen and it is something that should be used expediently as a means to get out of debt. Bankruptcy can be a complicated process with many potential limitations and an abundance of requirements but our Deerfield Beach bankruptcy attorneys are here to guide you through the process.
If you are thinking of filing for bankruptcy and are unsure of where to start, contact our experienced Deerfield Beach bankruptcy attorneys before you move forward in filing a claim. A knowledgeable bankruptcy attorney will be able to walk you through the process and make sure you are moving forward with the option that is best for your current financial situation.
Understanding The Bankruptcy Process
Due to the complexity and potential length of the bankruptcy process, it is highly advisable to contact our experienced Deerfield Beach bankruptcy lawyers before filing.
Chapter 7 Bankruptcy
When filing for Chapter 7 bankruptcy, you must pass a ‘Means Test’. This means that your current income and outstanding debts are weighed against each other to see if you are qualified to file for Chapter 7. If you do qualify, then the result is usually that your outstanding debts are forgiven.
Chapter 13 Bankruptcy
For those that have too high of incomes or too low of debt for Chapter 7, then filing for Chapter 13 bankruptcy may be the best option to go with. This type of claim usually ends up in payment plan modifications, such as reduced monthly rates or extended periods to pay off your debts. It usually varies on a case-by-case basis.
Chapter 11 Bankruptcy
For those who do not fit within either Chapter 7 or Chapter 13, then filing for Chapter 11 bankruptcy may be your best option. This type of claim is typically filed by business owners or individuals with very high debts to repay. Many times, this type of claim is the most complex and requires the services of a Deerfield Beach bankruptcy attorney.
Contact The Deerfield Beach Bankruptcy Attorneys At Loan Lawyers
Contact Loan Lawyers today for a legal consultation with bankruptcy attorneys in Deerfield Beach regarding your current financial situation. You can reach us at 954-523-HELP (4357) and talk to any of our experienced bankruptcy lawyers in Deerfield Beach.