Florida Bankruptcy Legal Help

Florida Bankruptcy Legal Help

(561) 430-4188

Bankruptcy is a federal court procedure. The legal method that grants relief from debt and creditor protection to debtors that are having difficulty or are completely unable to pay off debt to their creditors. One of the primary purposes of the Bankruptcy Act is to relieve the honest debtor from the weight of oppressive indebtedness and to provide the debtor with a fresh start. Bankruptcy may be filed by individual consumers or businesses.

The attorneys and staff at our bankruptcy firm take the time to carefully listen to our clients’ needs in order to find the best debt solution for each and every case.  Canty Law provides bankruptcy assistance to individual consumers who are in monetary distress by filing Chapter 7 Bankruptcy.  We also offer debt reduction programs as an alternative to bankruptcy. Each debt relief program is based upon each individual client’s financial and/or credit debt needs.

Filing for bankruptcy offers consumers in debt the ability to start over fresh.  For example, someone who is burdened by a second mortgage or past due on maxed out credit cards is more than likely overwhelmed by their financial obligations.    Consequentially, their mental health will be impacted by the stress, which usually overflows to their family members.  A person in this type of situation will benefit from talking to one of our bankruptcy attorneys about a Chapter 7 or 13 bankruptcy filing.

Benefits of Filing Bankruptcy

  • Consumers in danger of losing their home to foreclosure are protected by the “Automatic Stay” injunction provided under the U.S. Bankruptcy Code, which will stop foreclosure sale immediately once a bankruptcy petition is filed with the courts.
  • Harassing creditor calls stop as the bankruptcy petition is filed with the courts.
  • Wage garnishments or any other collection efforts from creditors will also stop, including law suits, repossession  attempts, liens, levies, etc.
  • Provides a fresh start with finances and relieves stress, which will be helpful for you and your entire family.

 

Filing Chapter 7 Bankruptcy Vs Chapter 13

The best way to describe the difference between filing for a Chapter 7 bankruptcy and filing for a Chapter 13 bankruptcy is liquidation verses repayment.

Qualifications for a Chapter 7 are based on income level and assets owned. For the most part, Bankruptcy 7 provides a clean slate for the debtor. In exchange, he or she will liquidate any property that is non-exempt.  Most debtors filing a Chapter 7 have minimal (if any) assets to liquidate.

Chapter 13 offers a debtor the ability to propose a repayment plan for the amount owed based on their disposable income and a Bankruptcy Means Test (a formula designed to prevent consumers with higher incomes from filing for Chapter 7 and to determine the borrower’s ability for repayment).  Filing Chapter 13 is a good choice if you have multiple mortgages or credit lines on your home or other valuable assets that are non-exempt.

Other Debt Solutions

Bankruptcy and debt settlement are both procedures an individual may perform on their own. However, much like hiring an accountant to file your taxes, hiring a Florida bankruptcy attorney to file bankruptcy will assure your finances are being handled by a professional knowledgeable in Florida Bankruptcy Laws.  In addition, bankruptcy laws and procedures can be complex.  If you do not file properly, you could lose benefits designed to give you a fresh start. Too many clients come to us after they have attempted to handle either process on their own and found they would have saved a great deal of money if they would have come to us first.

Canty Law offers bankruptcy and debt help consultations for residents in South Florida.  We will evaluate your financial circumstances and then help you to determine which program is best for you.  Call us by phone at (561) 430-4188, or contact us here online.  We look forward to working with you.