Bankruptcy Lawyers South Florida
Many people tend to associate bankruptcy with embarrassment or shame. However, bankruptcy is your right as a U.S. citizen to help you get a fresh start financially. There are numerous people that end up filing for bankruptcy in South Florida and at Loan Lawyers, we are here to help. Our South Florida bankruptcy attorneys have years of experience and are completely dedicated to getting the best solutions for our clients.
The Bankruptcy Process
Bankruptcy can be a complex and tedious process and it is not something that you should handle without legal representation. At Loan Lawyers, our South Florida bankruptcy lawyers are here to guide you and inform you of all your options that can help save your assets. Our skilled South Florida bankruptcy attorneys will work with you every step of the way on your path financial relief. Our bankruptcy lawyers in South Florida have helped our clients modify their existing loans by restructuring payment schedules, eliminating second mortgages, and revaluing investment properties.
Some of the more common questions that our South Florida bankruptcy attorneys are asked:
- What type of bankruptcy should I file?
- Can I maintain my credit cards?
- How long does the bankruptcy process take to be put into effect?
- Do I have to sell my other valued assets?
- Can I still keep a Savings account after filing for bankruptcy?
- Can I have any debts completely discharged when filing?
If you have any questions about bankruptcy, contact our South Florida bankruptcy lawyers and we will be able to provide you with all of the information you need in order to decide whether to file for bankruptcy or not.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is one of the simpler and more common types of bankruptcy in South Florida. Chapter 7 is highly sought after as it potentially allows for the dismissal of nearly all debts.
However, there are eligibility limitations to Chapter 7. Many people do not end up qualifying Chapter 7 bankruptcy in South Florida due to high income or a very substantial amount of debt. When filing for Chapter 7, you are subjected to a Means Test which leverages your expenses against your income to determine your eligibility. Once qualified for Chapter 7, many kinds of debts can be eliminated including credit card debt, medical bills, personal loans, etc.
Contact our South Florida bankruptcy lawyers today to determine if Chapter 7 is the best option for you.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy involves the modification of payment plans instead of the complete elimination of debt. Chapter 13 grants an extended deadline to pay back debts which is typically an additional five years. In addition to having an extended timeline to repay your debts, you also are able to save most, if not all, of your valuable assets including your home, car, etc.
Chapter 13 was designed for people who exceed the income limitations in Chapter 7.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy is designed for business owners who have found themselves in a tough financial predicament. Sometimes, however, individuals who are not business owners can file for this option as well if their debts owed are above the limits that are set for Chapter 13.
Chapter 11 tends to be much more complex, costly, and laborious, but it does offer many benefits to business owners or individuals that do not qualify for the other two chapters of bankruptcy. One of the most important benefits that can result from filing for Chapter 11 bankruptcy is that business owners can save their businesses and remain open.
Contact Our South Florida Bankruptcy Attorneys Today
If you are struggling financially and cannot seem to get caught up on payments, then contact our South Florida bankruptcy lawyers today. We will walk you through all of your options and make sure that you are aware of everything involved in the bankruptcy process.
You can reach us at 954-523-HELP (4357) for a free consultation with one of our knowledgeable South Florida bankruptcy attorneys and learn how we can help get you on the path to financial freedom today. Fill out our online contact form today.