Bankruptcy Attorneys Coral Springs
Many people often hesitate on filing for bankruptcy because of the negative connotations associated with the word. Many people think that they should feel ashamed or embarrassed if they have to file for bankruptcy. The fact of the matter is that they should not feel this way at all. Bankruptcy is a given right for all citizens of the U.S. where they can get help in getting back on their feet financially. It is a process that is meant to help you become debt-free.
If you are contemplating filing for bankruptcy, it is crucial to consult a Coral Springs bankruptcy attorney to make sure you know what the best option for you is based on your specific situation and circumstances. At Loan Lawyers, our Coral Springs bankruptcy lawyers are fully committed to helping our clients obtain the best possible outcome after filing bankruptcy.
The Bankruptcy Process
There are various factors that can affect your bankruptcy claim, from state laws to limitations on the amount of debt one can have. This is why it is ideal to consult with a Coral Springs bankruptcy lawyer to help guide you through the process.
Here at Loan Lawyers, we have a team of experienced and talented Coral Springs bankruptcy attorneys that can review your current financial situation and advise on the best option when it comes to filing a claim for bankruptcy. Our bankruptcy lawyers in Coral Springs are fully committed to ensuring that our clients retain their assets and help to restructure loan payments.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy filings can completely eliminate any outstanding debt and it is typically a fast process compared to some of the other kinds of bankruptcy. However, to qualify for Chapter 7, you will have to pass a ‘Means Test’. The Means Test takes a look at your income and total expenses to determine eligibility
It is important to keep in mind that there are state laws that can affect your eligibility for this type of claim. Therefore, we recommend consulting with our Coral Springs bankruptcy attorneys to ensure that your best interests are kept in mind.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy claims for people that don’t qualify for Chapter 7 due to higher incomes. Chapter 13 usually grants payment extensions for an additional five years, but it can vary depending on your specific case.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy claims are usually for individuals that have higher debt amount than Chapter 7 or Chapter 13 allows for, or for individuals who are business owners. While this type of claim is much more perplexing, time-consuming, and costly, it also benefits these individuals by allowing the business to remain open or allowing the individual to keep their assets while minimizing financial loss and business risk.
Contact The Coral Springs Bankruptcy Attorneys At Loan Lawyers
At Loan Lawyers, our team of bankruptcy attorneys in Coral Spring are here to help you through the bankruptcy process. Contact us today at 954-523-HELP (4357) to schedule a legal consultation