Pompano Beach Bankruptcy Lawyers
Bankruptcy is a process that was created to help struggling individuals get caught up on debts and repay any outstanding loan amounts. In fact, even those in high-profile positions often wind up having to file for bankruptcy to help repay debts.
Contact our qualified and experienced Pompano Beach bankruptcy lawyers before you file. Our bankruptcy attorneys in Pompano Beach will be able to advise and guide you through the entire process so that you are meeting all of the requirements needed to qualify for a bankruptcy claim.
The Process of Bankruptcy
The bankruptcy process can often be complex and arduous. There is a multitude of state and federal laws that apply to bankruptcy claims and our Pompano Beach bankruptcy lawyers have years of experience helping our clients take the first step on the path to financial freedom.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy allows for the elimination of all outstanding debts. To qualify for this, you must pass a ‘Means Test’ where they determine whether your income and outstanding debts meet the criteria for Chapter 7. On top of having to pass the ‘Means Test’, you must also make sure that any state laws do not put limitations on your bankruptcy filing.
If you are unsure whether you meet the requirements for Chapter 7, an experienced Pompano Beach bankruptcy attorney can assist.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a second option for those who do not qualify for Chapter 7. Chapter 13 allows for payment extensions and payment plan modifications to be put into effect that will help individuals pay off their debts. The extension periods or payment plan modifications depend on one’s specific situation and, therefore, can vary from case to case.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy is usually filed by business owners and/or individuals with extremely high debts. The process for filing a Chapter 11 bankruptcy claim is much more complicated and requires many more steps than the other two filings. This is why it is important to consult with a Pompano Beach bankruptcy lawyer before you send in a claim.
Contact The Pompano Beach Bankruptcy Attorneys At Loan Lawyers
If you have found yourself in a seemingly insurmountable financial hole, then filing for bankruptcy may be the best option for you.
Give Loan Lawyers a call today to review your financial situation and go over your options with our experienced team of Pompano Beach bankruptcy lawyers. Call us at 954-523-HELP (4357) for a consultation today.