Colonial Oaks FL Bankruptcy Attorney
Debt can quickly spiral out of control. And when you’re dealing with the stress of being unable to pay your bills, trying to make decisions about your financial future may seem next to impossible. But there are options you can pursue.
Bankruptcy can provide you with an opportunity to get a clean slate and regain control of your finances. To learn more about your debt relief options, contact a Colonial Oaks FL bankruptcy attorney at Ryan J. Really, Attorney at Law, PLLC today.
Types of Bankruptcy We Handle
A Colonial Oaks FL bankruptcy attorney can help you assess your situation and take action, whether to discharge or reorganize your debt, or examine other options that suit your situation better. We can help you with:
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
- Small Business Bankruptcy
- Foreclosure Defense
- Debt Negotiation
We have extensive experience working with clients at all stages of bankruptcy from filing a petition through discharge.
Often called “liquidation” or “straight” bankruptcy, Chapter 7 allows you to discharge all or nearly all of your debt. It also gives you protection against creditors so that you can reach debt relief more quickly than through other types of bankruptcy. Chapter 7 usually only takes four to six months to complete.
In order to qualify for Chapter 7, you must take a means test. The test involves a comparison of your disposable income with the average income of other people in similar circumstances. If you don’t qualify for Chapter 7, you may be able to file Chapter 13.
Chapter 13 bankruptcy is often called “reorganization” bankruptcy. It allows you to organize your debts into a three- to five-year payment plan so you can gradually repay your debts. When you file for Chapter 13, you will also:
- Protect yourself against foreclosure and creditor harassment;
- Get the ability to develop a reasonable payment plan; and
- Discharge eligible debt when the plan completes.
You can typically retain most of your property through a Chapter 13, and you should also be able to avoid eviction, foreclosure, and repossession.
Small business owners face a lot of risks in the current economy. When debts become too much to handle, bankruptcy may be a viable option to help your company stay afloat. Our Colonial Oaks FL bankruptcy attorney can help you explore your legal options and develop a strategic plan for the future.
The following bankruptcy options are available to small businesses:
- Chapter 7 – This allows businesses to pay off creditors by selling what they already own. Assets can be sold and creditors reimbursed for debt. In this type of bankruptcy, the business is then dissolved.
- Chapter 11 – A business does not have to end through bankruptcy. Instead, Chapter 11 gives small businesses the option to reorganize and structure things to slowly pay off debt over a period of time.
We understand that you don’t want to lose your home. If you are struggling to pay your mortgage and are in danger of foreclosure, bankruptcy can help you protect your most important asset.
When you file for Chapter 7 or Chapter 13 bankruptcy, the court will issue an automatic stay. This will pause or stop all legal actions being taken against you, including foreclosure. This will also buy you time to catch up on payments or renegotiate the terms of your mortgage. Many home mortgage companies have bankruptcy policies wherein they will negotiate with people going through financial difficulty. An attorney can help you negotiate with bankers and their legal teams.
If you decide that bankruptcy isn’t right for you, debt negotiation is another option. However, many debt negotiation services do not have your best interest in mind. They want to get fees from you and the creditors in order to increase their own profits. By working with an attorney, you can avoid losing property and come to a suitable agreement for both you and your creditors.
Debt negotiation often means eliminating thousands of dollars in debt. Creditors will often drop fees and interest, and even principle debt amounts in order to work out a payment plan with you. Before you decide to file bankruptcy, it’s best to consult with an attorney to see if debt negotiation would work for you. This would allow you to keep a bankruptcy off your credit report and return past due notifications on your report back to good standing.
A Colonial Oaks FL Bankruptcy Attorney Can Help
Filing bankruptcy requires submitting in-depth information about your personal life, income, debts, creditors, assets, and more. Don’t try to handle this complex process alone. A Colonial Oaks FL bankruptcy attorney can help you avoid costly mistakes. Call Ryan J. Really, Attorney at Law, PLLC today to learn more about our services.