Parkland Bankruptcy Lawyers
If you are looking for a fresh start to financial freedom, then filing for bankruptcy may be the best option for you. The bankruptcy process is often complex, strenuous, and stressful and it is highly advisable that you contact our Parkland bankruptcy attorneys so that we can help you make the best decision to get out of debt.
The Bankruptcy Process
There are many factors that determine the specifics of every bankruptcy case and there are a few different ways to file for bankruptcy. At Loan Lawyers, our dedicated bankruptcy lawyers in Parkland have years of experience and have helped thousands of our clients eliminate substantial amounts of debt. Our team of Parkland bankruptcy attorneys can help guide you through filing for Chapter 7, 11, and Chapter 13 bankruptcy.
Chapter 7 Bankruptcy
The most common type of bankruptcy that is filed is Chapter 7. Chapter 7 bankruptcy can potentially reduce most or nearly all amounts of debt but there are specific eligibility requirements that are determined by a Means Test. The Means Test weighs earning potential against all debts to determine eligibility. In addition, you must make sure that there are not any state laws or state limitations that would affect your qualification for Chapter 7 bankruptcy.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is an alternative for those who do not meet the criteria for a Chapter 7. If deemed eligible for Chapter 13, you typically receive an extension of five years to repay any outstanding debts and can also lower monthly payments on the principal. The outcome varies based on your financial situation and is handled on a case-by-case basis.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy is typically reserved for business owners or individuals with very large amounts of debt.
Contact The Parkland Bankruptcy Attorneys At Loan Lawyers
To determine the best route to take in bankruptcy, contact our team of Parkland bankruptcy attorneys to discuss all your possible options. We are fully committed to helping our clients with peace of mind and relief from the burden of debt. Call us at 954-523-HELP (4357) today for a legal consultation for more information on how we can help you.