If you are unable to pay off large personal debts, then, filing for bankruptcy is the only decent way to deal with your debts. Even large businesses have utilized the protection provided by this. By filing for bankruptcy, you can avoid foreclosure, get protection from creditors, rebuild your credit and even start life afresh.
Bankruptcy cases in Florida are filed in one of three districts of of which is Miami. Due to the large number of bankruptcy cases and the complicated nature of many cases, a new bankruptcy law was introduced in 2005. Unfortunately, the new law is quite ambiguous in parts and is subject to diverse interpretations. New rules have been introduced for filing bankruptcy and there is a lot of additional work to be put in both by debtors and attorneys. Thus, there is some amount of risk and uncertainty regarding the new rules. A reputed bankruptcy lawyer in Florida can help you maneuver the legal processes involved.
A good bankruptcy attorney can help you figure out the easiest route to financial independence. For instance, Chapter 7 bankruptcy can help debtors discharge their debts and restore their finances. Chapter 13 bankruptcy is for those who want to pay off their debts in 3-5 years. Most debtors are unaware of these provisions and their differences.
To help debtors achieve financial freedom, the bankruptcy lawyer in Florida starts off by filing for the bankruptcy petition and representing their client’s case appropriately in court. For that, they will have to be privy to all details pertaining to the client’s financial situation. After a thorough evaluation of the client’s financial situation, the Florida bankruptcy attorney will identify those assets that needed to be included in the petition.
In the process of filing for bankruptcy, the personal bankruptcy attorney in Florida will also explain in detail about the debts that will be discharged as the result of filing for bankruptcy and identify those debts that will have to be repaid. Certain assets will be exempted and the reputed attorney will be able to claim them.
Thus, a capable personal bankruptcy attorney in Florida can help you handle the financial problems before you.
People of Florida, like residents in the rest of the country, continue to grapple with financial hardships as job losses still dwarf the number of jobs created and unemployment rates climb up steadily. In fact, in many states, bankruptcy cases are up by 50% or more in the last quarter. So, if you have defaulted on your loan payment and do not know how to repay the rest of your loan, then, you need to hire the services of an expert bankruptcy lawyer in Florida. This is one battle you don’t want to fight on your own!