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If you are looking for a way to stop foreclosure, put an end to creditor harassment and get the debt relief you need, you may want to consider bankruptcy. By talking to an experienced bankruptcy lawyer, you can get the facts and find out more about your options. The attorneys at Albareda & Associates, P.A. have helped hundreds throughout South Florida find peace of mind and obtain a fresh start.
What is Bankruptcy?
Federal bankruptcy law was enacted to allow debtors who are unable to meet their financial obligations to obtain a fresh financial start. Bankruptcy law accomplishes this goal by providing debtors with a essay writers mechanism through which they may eliminate, reduce and/or extend most debt, while simultaneously protecting themselves during the bankruptcy process from pursuit and harassment by their creditors.
Learn About the Most Common Bankruptcy Myths
Who Can File for Bankruptcy Protection?
With only certain limited exceptions, any individual (alone or together as a married couple) or business may file for bankruptcy protection.
If you are unable to keep up with your monthly payments, are feeling overwhelmed, stressed and overall powerless about your current financial situation, it is time to consider bankruptcy as an option. Bankruptcy provides many options for those struggling with their expenses. Contact us to discuss your situation.
What Are the Potential Benefits of a Bankruptcy Case?
A bankruptcy filing is often used for many reasons by both individuals and business to:
- Eliminate overwhelming credit card debt, medical bills, and other types of debt
- Save their house or other real property from foreclosure or to save their car or other assets from repossession
- For those under a cash flow squeeze to obtain a “breathing spell” from their creditors in order to reorganize their financial affairs or to sell off assets
- Extend or resolve burdensome tax liability
- Stop an eviction from a leased real property or repossession of leased equipment
- And more
Get a financial fresh start, keep your home, and stop harassing creditor calls.
What are your options?
Chapter 7 bankruptcy:
Although not available for everyone, if you are eligible to file for Chapter 7 bankruptcy it could be the solution for you to get out of debt. Also called “fresh start” bankruptcy, this is what many can expect from Chapter 7 bankruptcy:
- Eliminate many forms of debt entirely such as credit card debt and medical bills
- Temporarily stop foreclosure on your home
- Remove liens against your home
- Stop harassing creditor phone calls
- Depending on your situation with the IRS, you may be able to wipe out some tax debt if it is more than three years old
Chapter 13 bankruptcy:
If you are looking for a way to keep your home, keep your car and get the debt relief you deserve, Chapter 13 bankruptcy may be right for you.Chapter 13 bankruptcy is essentially a reorganization or repayment plan that lasts from 36 to 60 months. Instead of struggling with your debt, Chapter 13 bankruptcy allows you to work with your creditors to make payments you essay writers can afford. After three to five years of this plan, your remaining debt will be discharged.
If you do not meet the income test for Chapter 7 bankruptcy, you will have to file for Chapter 13. If you do have disposable income, it is important that you make payments you can afford. However, by entering a repayment plan, you will be able to keep your home, keep your car and retain other important assets.
Learn more about your options when it comes to bankruptcy.