Tamarac Bankruptcy Lawyers
Many people hold off on filing for bankruptcy out of embarrassment and the negative stigma that comes with it. However, this should never be the case because bankruptcy is a way to start over again financially. It is a way to restructure your bills and finances so that they are more affordable and manageable. Every day, millions of people file for bankruptcy so that they can get back on their feet without drowning in more debt.
If you have fallen behind in payments or are unable to make your loan payments, bankruptcy may be the best option for you. Our Tamarac bankruptcy attorneys are here to guide you through the process
The Bankruptcy Process
While bankruptcy may be the best option for you, it is often a complicated process for the everyday consumer. It is important to consult with an experienced and reputable bankruptcy attorney in Tamarac before filing (or not filing).
At Loan Lawyers, we have over 100 years of combined experience in helping individuals manage their finances. We offer free consultations to initially determine what is the best course of action for your specific financial situation. We have helped clients achieve the following and more:
- Modified the debt of our clients through applications for bankruptcy
- Saved our clients’ homes and properties
- Helped our clients get on the right track to financial freedom
- Increasing our clients’ financial picture overall
Loan Lawyers will look into a variety of avenues for restructuring your debt. We often aim to eliminate any second mortgages where possible. We will look into modifying your current loans to better suit you financially. We will also work on decreasing your investment properties to the fair market value to help you pay them off in a timely manner.
Because the process for bankruptcy can become so complex based on your financial picture, there are many common questions one may have. Can all of my debts be eliminated? What chapter of bankruptcy should I file under? How long does the entire process usually take? Our team of Tamarac bankruptcy attorneys can help you will all of these questions and many, many more. We can also help advise on the best possible option for you, and achieve that option for you.
When you file for Chapter 7 Bankruptcy, you are typically able to eliminate all of your debts. This usually is decided within a quick timeframe as well, which is why many people aim to file under this chapter. However, there is a catch – you must pass a “Means Test” which weighs out your costs verse income to determine if you are eligible for Chapter 7. If you do pass, you are likely eligible to eliminate debts such as medical bills, credit cards, repossessions, collection agencies, and more. If you have student loans, you may qualify to eliminate this debt as well.
For those that do not qualify for Chapter 7, they can opt for Chapter 13 Bankruptcy. When you file under Chapter 13, you are more than likely going to be able to restructure your current debt to make it more manageable to pay off. This typically results in a longer time period to repay your debts, or it results in lower monthly payments to better suit your financial needs.
Chapter 11 is usually filed under business owners who have fallen behind in large business loan debt. However, if an individual does not qualify for Chapter 7 and their debts are far higher than what is acceptable for Chapter 13, they have no choice but to file for Chapter 11. This process is even more complicated the two chapters above, so it is highly suggested to have an experienced Tamarac bankruptcy lawyer standing behind you.
Why You Need A Tamarac Bankruptcy Attorney
Not only do we have over 100 years of combined experience, but we also have a proven track record of success in helping individuals restructure their debts and get them on the road to financial freedom quickly. We are familiar with any and all aspects of bankruptcy and will only advise on the best possible solution for you based on your finances.
In addition, it may not be the right time to file for bankruptcy. Our team of Tamarac bankruptcy attorneys will advise on the best time for you to file based your specific situation.
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. To schedule a consultation with our Tamarac bankruptcy lawyers, call our office at 844-344-4813.