Chapter 7 Bankruptcy
It is an option for businesses or people who cannot make regular monthly payments toward their debts. It is also an option for businesses that wish to terminate the business.
Filing Chapter 7 bankruptcy can help in a number of ways, such as:
Remember that Chapter 7 bankruptcy is not a cure for your financial troubles. There may be some impact on any debt cosigners, and you cannot discharge debts that occur after you file. Working with an Orlando bankruptcy lawyer helps you understand how bankruptcy law applies to special types of debt. These debts may include:
Chapter 7 bankruptcy can, more or less, help you press reset on your finances. If you discharge your debts, you have the chance to catch up on your bills. In most cases, you are also able to keep your property if you are current on car and home payments. Discharging your other debts may allow you to catch up on your home and car. Hire an Orlando bankruptcy lawyer to guarantee you protect yourself as much as possible.
Chapter 7 bankruptcy offers some protection from liquidating your assets. Compared to other states, Florida law has a fairly liberal interpretation of bankruptcy exemptions. This benefits you in the end as you have more protection to keep your property. Talk to an Orlando bankruptcy lawyer about how to best protect yourself and your assets.
What You Need to File Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
You are eligible for Chapter 13 relief if your unsecured debts are less than $394,725 and secured debts are less than $1,184,200. This is the case even if you are self-employed or operating an unincorporated business.
To be eligible to file you must receive credit counseling from an approved credit counseling agency. This must take place within 180 days before filing. It can take place either in a solo or group briefing.
An Orlando bankruptcy lawyer will guide you every step of the way of a Chapter 13 bankruptcy filing. A Chapter 13 case begins by filing a petition with the bankruptcy court serving the area where you reside. A husband and wife may file a joint petition or individual petitions. Your Orlando bankruptcy lawyer will complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules. Therefore, they will need the following information from you:
Chapter 11 Bankruptcy
This allows a company to continue running while repaying creditors and allows the business to retain its assets. However, this is a more complex filing than Chapter 7 bankruptcies. An Orlando bankruptcy lawyer can help.
Our Florida bankruptcy attorneys can help you restructure your business. Our approach focuses on the best interest of the creditors. We work closely with you to ensure we develop the best plan for you. We are committed to helping you clear your debts and set on your path to success.
How to File Bankruptcy Without a Lawyer
Why to Work With an Orlando Bankruptcy Lawyer
In reality, the opposite often rings true. Hiring an Orlando bankruptcy lawyer helps you stay on track for the best outcome.
Many worry about the effects filing bankruptcy in Florida can have on their credit report. However, for many people, bankruptcy can increase their credit score. An Orlando bankruptcy lawyer may help improve your credit score by discharging your debts. Some people even see their credit score improve by triple digits.
Filing bankruptcy does not prevent you from owning property or taking out loans in the future. While there may be some waiting period, you will be able to enjoy financial control again. In fact, your improved credit score may even help you.
You may be tempted to hire a debt settlement or credit consolidation agency instead. However, you should still hire an Orlando bankruptcy lawyer. There are no laws or rules governing those agencies. They are often scams and you end up losing big in the end.
How to Choose an Orlando Bankruptcy Lawyer
You are selecting the lawyer who will be your guide as you work your way through severe financial changes. Our team of bankruptcy attorneys in Florida has the expertise you need to get the help you need.
The commitment of every Orlando bankruptcy lawyer on our team is to work for your best interests. We do everything possible to get you the best outcome. Our innovative, forward-thinking approach sets the tone for achieving the results you want.
Each Orlando bankruptcy lawyer on our team takes great pride in their work. In addition to the best legal outcome for you, we want to ensure your totally satisfied. That’s why we emphasize the importance of practical guidance. When you work with Bitman, O’Brien and Morat, PLLC, you have an Orlando bankruptcy lawyer focused on exactly what you need.
When you file for bankruptcy in Florida, we understand the financial stress and pressure you’re under. We provide cost-effective legal services so we can assist you without causing further financial stress. With our practical and streamlined approach, each Orlando bankruptcy lawyer from our team only recommends actions they believe in.
Hiring a Bankruptcy Lawyer in Florida
An Orlando bankruptcy lawyer is an attorney focused on assisting clients through the legal proceedings of bankruptcy. These lawyers may represent people or companies alike. They assist with reducing or eliminating debt.
While you may be tempted to file bankruptcy in Florida without a lawyer, we advise against it. Working with an Orlando bankruptcy lawyer ensures you file everything properly and protect yourself. Filing bankruptcy is not a time for you to take risks.
An Orlando bankruptcy lawyer oversees your bankruptcy process. They review your assets, help you determine the best path for you and guide you through your legal proceedings. Your lawyer ensures you understand your financial rights and protections and assists with proper pre-bankruptcy planning.
No matter how you file bankruptcy, there are court fees associated with the process. However, it is in your best interest to still file with an Orlando bankruptcy lawyer. Your lawyer ensures you cover all of your bases and do not overpay.