Life is full of unexpected problems. When a sudden disability, divorce or job loss leaves you hemorrhaging money, your unpaid bills continue to pile higher and higher. With your financial future on the line, a fresh financial start may seem impossible. However, filing for bankruptcy may bring you that much needed relief. With an experienced Ava Maria FL bankruptcy attorney at your side, you can sort out your finances.
How Our Seasoned Legal Team Can Help You
With years of experience, our seasoned legal team at Ryan J. Really, Attorney at Law, PLLC have helped numerous clients seek a fresh financial start through these debt relief strategies:
- Filing under Chapter 7 bankruptcy
- Filing under Chapter 13 bankruptcy
- Filing for small business bankruptcy
- Obtaining solid foreclosure defense
- Debt negotiation
By assessing your specific circumstances, our Ava Maria FL bankruptcy attorney will formulate the best debt relief strategy that suits your needs.
How Chapter 7 Bankruptcy Can Help You
Otherwise called a liquidation bankruptcy, Chapter 7 can award you the ability to sell off your assets and property in order to repay your debts. After your assets are sold, the proceeds are then turned over to your creditors. Since bankruptcy under Chapter 7 typically only takes around four to six months, it is without a doubt the quickest and most common form.
Yet, qualifying to file under Chapter 7 is not as easy as qualifying for Chapter 13 bankruptcy. This is because before filing for Chapter 7, you will need to undergo the Means Test, which basically looks at your income compared to your amount of debt. If you do not earn enough disposable income to repay your debt, then you will qualify. However, if you do make enough, then Chapter 13 may be your better option.
How Chapter 13 Bankruptcy Can Help You
Failed the Means Test? Fortunately, most people that fail to pass Chapter 7’s test still qualify for Chapter 13 bankruptcy. This is due in part to Chapter 13’s only requirement, that you receive enough income to make regular plan payments. As long as you keep up with those monthly payments, then you will still benefit from Chapter 13.
Yes, filing for Chapter 13 means that you will need to restructure your debt into a monthly plan that can span the course of three to five full years. So, under Chapter 13, don’t expect to get out of debt as fast as you would under Chapter 7.
Though, filing under Chapter 13 does award you benefits that Chapter 7 does not. For instance, if you have any non-exempt property or assets that you want to keep, then filing under Chapter 13 will allow you to keep it. In contrast, Chapter 7 would require you to sell that property away.
How Small Business Bankruptcy Works
If you own a small business then you have probably taken risks at some point. While those risks may have lead to big rewards, they may have also lead to big loses. If your business is suffering from insurmountable debt, then our experienced legal team is ready to help. Utilizing Chapter 7 or 11 bankruptcy, we will assess your situation and craft the best debt relief strategy for your business. You do not want to lose everything you’ve worked so hard to accomplish.
How Bankruptcy Can Protect Your Home from Foreclosure
Chances are, if you’re crushed under a mountain of debt, then you may be neglecting your regular mortgage payments. Unfortunately, doing so puts your home in danger of foreclosure. You don’t want to lose your most valuable asset when facing debt. It will only add to the already stressful situation.
Fortunately, filing for any type of bankruptcy can help. Basically, once your submit your bankruptcy paperwork to the court, the presiding judge will issue an automatic stay. With this stay in order, none of your creditors can collect on any of your assets — including your home. However, you need to remember that this stay is only a temporary solution. If you do not complete the bankruptcy or repay your debt, then foreclosure on your home gets put back onto the table.
How Bankruptcy Fends Off Creditor Harassment
Similarly to halting foreclosure, the automatic stay issued by the court also helps to fend off pesky creditors. Under the stay, your creditors cannot continue to call you directly. They must contact your attorney instead, if they wish to relay a message. Any Ava Maria FL bankruptcy attorney worth their salt knows how to deal with annoying creditors. Let us handle them for you.
Contact a Ava Maria FL Bankruptcy Attorney Now
Debt is like quicksand, the harder you struggle, the deeper you sink. Our Ava Maria FL bankruptcy attorney at Ryan J. Really, Attorney at Law, PLLC is ready to throw you a lifeline. Contact us today to see how we can help you.