Bankruptcy is a given right for all United States citizens, and bankruptcy can help get you started on the path to financial freedom. Filing for bankruptcy can be daunting and it is highly recommended to consult with our Broward bankruptcy attorneys so that you are aware of all of your options and understand the processes involved. Depending on your situation specifically, you may be able to qualify for a range of options when it comes to filing for bankruptcy. Our Broward bankruptcy lawyers can determine the best course of action for you.
The Bankruptcy Process
Many factors can affect the bankruptcy filing process including both federal and state laws as well as limitations set by your specific state of residence. Due to the range of factors that can affect this process, it is important to hire an experienced and well-versed bankruptcy lawyer in Broward for guidance throughout the entire process.
At Loan Lawyers, our team of Broward bankruptcy lawyers has the necessary experience and dedication to help you through the bankruptcy process and get you on a path to becoming debt-free. Our skilled bankruptcy attorneys in Broward will assess your current financial situation and advise on the best course of action to help you see the most positive outcome in the end.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy allows for the dismissal of all unpaid debts. The process is fairly quick, but the eligibility for Cs much stricter than some of the other options. For this type of filing, you must pass a ‘Means Test’ which evaluates your current income verse your total unpaid debts to see if you qualify for Chapter 7.
In addition, there are often state limitations and state laws that can come into effect to prevent you from qualifying for Chapter 7. At Loan Lawyers, our skilled Broward bankruptcy lawyers will be able to advise on these limitations and laws so that you are moving forward with the right type of filing.
Chapter 13 Bankruptcy
Typically, those who do not qualify for Chapter 7 bankruptcy end up filing for Chapter 13 bankruptcy. This is usually because their incomes are too high to qualify for Chapter 7. Chapter 13 generally allows individuals payment extensions or payment plan modifications on debts.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy is usually for business owners, but there are instances where an individual may have to go this route as well. This type of filing is for those with extremely high debts or business loan debts. This type of filing can be very complex based on the filer’s specific financial situation, so it is crucial to contact a Broward bankruptcy attorney in order to make sure you fully understand the process.
Contact The Broward Bankruptcy Attorneys At Loan Lawyers
Here at Loan Lawyers, our bankruptcy attorneys in Broward are here to assist you through the bankruptcy process. Give us a call at 954-523-HELP (4357) to schedule a consultation today.