There are times in life when unexpected circumstances and situations can occur that require a hefty sum of money to handle, like medical emergencies or being laid off from a job. Other times, you can quickly see your credit card debt start to build up due to poor budgeting and unforeseen finances. When you have reached an overwhelming amount of outstanding debt, it is time to start considering the options you have to overcome this debt.
One option is to consider filing for bankruptcy with the help of an experienced Delray Beach bankruptcy attorney. Filing for bankruptcy is a great solution to start the path to financial freedom for anyone struggling with large amounts of debt.
How Loan Lawyers Can Help with the Bankruptcy Process
Our Delray Beach bankruptcy lawyers can help you with the bankruptcy process by handling every step of the process so you have peace of mind that you will end up with the best solution possible. We will review your financial state and all of your unpaid debt, and advise on the best route for you to follow.
- Chapter 7 Bankruptcy – Under Chapter 7, you are eligible to eliminate all of your debt and get a fresh start financially if you pass the Florida Means Test. This test looks at your income versus your debt to ensure you are unable to make payments on the outstanding debt.
- Chapter 13 Bankruptcy – Under Chapter 13, you are eligible to negotiate an extended timeline to repay your overall debt, or you can negotiate lower monthly payments.
- Chapter 11 Bankruptcy – Under Chapter 11, you will work with your lenders to come up with a plan that best suits your overall financial picture. This is usually the chapter with which business owners will file under due their high income and high amount of debt.
Other Options Besides Bankruptcy
When you work with a qualified Delray Beach bankruptcy attorney, you will be able to review all of your options – not just the option to file for bankruptcy.
- Modifications to Loan Terms – With loan modifications, we will negotiate with your lender to come up with reduced monthly payments, lower interest rates, temporary payment payments, and other options to better suit you financially.
- Mortgage Workouts – With mortgage workouts, we will negotiate new terms to your current mortgage payment plan with your lender, so that you are able to pay off your mortgage along terms that are more reasonable for your finances.
Your Trusted Delray Beach Bankruptcy Law Firm
At Loan Lawyers, we know how stressful and overwhelming it can be when you have no idea how you are going to make your loan payments. We also know how scary it can be when these payments continue to just pile up. This is why we are on your side.
For more information on our Delray Beach bankruptcy services, please contact us at 954-523-HELP (4357) today.