Margate Bankruptcy Lawyers
Life can be unpredictable and it doesn’t take much to find yourself in a seemingly insurmountable amount of debt. When you fall behind in your payments, interest rates and late fees will only continue to pile up – leading to even more debt. This can be an overwhelming and stressful situation for any individual that finds themselves in this position.
By filing for bankruptcy, you are able to eliminate or reduce your overall debt so that you can finally see the light at the end of the tunnel. When it comes to filing for bankruptcy, there are different chapters that apply to different financial situations. This is why it is important to consult with our experienced Margate bankruptcy attorney to ensure you are following the right processes and procedures. When you try to handle the bankruptcy process on your own, it can lead to more financial burden down the road.
What Happens When I File for Bankruptcy?
With over 100 years of combined experience, Loan Lawyers is the leading bankruptcy law firm in South Florida. When you hire our legal services, you are hiring a team of Margate bankruptcy lawyers that will be by your side throughout the entire bankruptcy process.
Our skilled bankruptcy attorneys in Margate will review your entire financial situation from your current debt to your income to your other finances and expenses. Then, we determine whether it is the ideal timing for filing for bankruptcy. Sometimes, it is not always the best time to file. If it is determined that the timing is right to file, we will guide you through the bankruptcy application and process, we will assist you in putting together a financial plan so that you are better able to manage your payments and expenses moving forward.
To qualify for Chapter 7 bankruptcy, you must pass a Means Test that compares your income against your debt. If eligible, you are typically able to eliminate most or even all of your debts for a fresh start financially.
Chapter 13 bankruptcy is available to those that do not qualify for Chapter 7 and it restructures debts so that you can either receive reduced monthly payments or a time extension.
Filing for Chapter 11 bankruptcy is usually for those with extremely high debts, such as business loans. It is a very complicated procedure to file under this chapter so it requires the services of a Margate bankruptcy attorney to assist.
Contact Loan Lawyers for Your Free Consultation Today
If you are facing large amounts of debt and are feeling as though you cannot get caught up, it may be time to consider filing for bankruptcy. For more information, contact us and schedule a consultation with our Margate bankruptcy attorneys at 844-344-4813.