When it comes to bankruptcy laws, they can often be quite complicated for the average consumer. This is why it is in your best interest to consult with an experienced attorney who specializes in bankruptcy law.
However, it is important that you do not just simply hire anyone. You will want to hire a law firm that has a proven track record of success and years of experience in the field to guarantee you have an expert on your side. In addition, you will want to work with someone that you feel comfortable sharing all of your personal financial information with.
Experienced Lighthouse Point Bankruptcy Lawyers
If you have found yourself struggling financially and are unable to get caught up on payments, you may be considering bankruptcy. However, what many people do not know is that there are other options for debt relief depending on your specific situation. A bankruptcy lawyer will help you conclude whether or not bankruptcy is the ideal option for you at that specific time.
A bankruptcy attorney will assess your current financial picture and will review any and all debt relief options with you prior to moving forward with a plan of action. If bankruptcy is the best option, your lawyer will guide you through the entire process.
At Loan Lawyers, our attorneys will make sure that you are aware of everything going on throughout the entire process and handle all legal communications on your behalf. On top of that, we offer assistance with a range of other items including:
The Bankruptcy Process
Depending on your specific financial situation, there are different chapters that you can file under:
Chapter 7 requires consumers to pass a Means Test to make sure they are eligible to file under this specific chapter. If they do qualify, they typically liquidate certain aspects to repay any debt and, in return, the remaining debt is discharged. This gives consumers a fresh start financially.
Chapter 13 is for those that do not qualify for Chapter 7 and our bankruptcy attorneys will work with your creditors to negotiate new payment terms. In most cases, consumers will receive an extended timeline to repay the full debt. The good news is that you are usually able to retain the rights to your house, car, and other valuable assets under this chapter.
For small business owners that have business loans out or for individuals with exceptionally high personal loans out, Chapter 11 is usually the chapter that they would file under. This chapter can be extremely complicated, but it usually results in a new payment structure to help consumers pay off their debt in a more reasonable way that fits their budgets.
Contact Our Lighthouse Point Bankruptcy Attorneys
At Loan Lawyers, we have a proven success record and over 100 years of combined experience in helping our clients with debt relief services. Contact us today and request a consultation with our Lighthouse Point bankruptcy lawyers.