North Fort Myers FL Bankruptcy Attorney
It doesn’t take much for finances to spin out of control. An unexpected crisis — the loss of a job, a sudden injury, a divorce — could leave you struggling to pay bills and crushed under a mountain of debt. Bankruptcy can provide much-needed relief and buy you some time to regroup. To learn more about the pros and cons of filing, speak to a North Fort Myers FL bankruptcy attorney today.
We Can Help You Get Your Finances Back on Track
At Ryan J. Really, Attorney at Law, PLLC, we can help you regain control of your debt situation. We offer expertise in the following areas:
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
- Small Business Bankruptcy
- Protection Against Foreclosure
- Debt Negotiation
You do not have to go through this alone. We will assess your case, help you formulate the best debt relief strategy for you, and help you navigate the bankruptcy process.
How Can Chapter 7 Bankruptcy Help?
Filing for Chapter 7 allows you to repay your creditors by “liquidating” or selling off your assets and property. This is the fastest and most common form of bankruptcy, typically only taking between four to six months. At the end of your bankruptcy, any remaining unsecured debts will be discharged.
In order to qualify for Chapter 7, you will need to take the Means Test. This test analyzes your income to debt ratio. If you have more debt than your disposable income can pay off, you are eligible for Chapter 7. A North Fort Myers FL bankruptcy attorney can help you determine your eligibility.
How Can Chapter 13 Bankruptcy Help?
Those who cannot pass the Chapter 7 means test may still qualify for Chapter 13. Chapter 13 allows you to “reorganize” or restructure your debt into a reasonable repayment plan. On average, this plan will last between three to five full years. You must be able to show that you have enough income to be able to pay back your debt over this period of time. Chapter 13 also offers the following benefits:
- Protection from creditor harassment and foreclosure;
- Discharging any remaining debt at the end of your plan period.
Perhaps one of the best aspects of Chapter 13 is that it allows you to keep non-exempt property. Examples of non-exempt property are cars, homes, and investments. So you own a lot of non-exempt property that you want to keep, Chapter 13 could be a good option for you.
Operating a small business often involves a few risks as well as taking on a few debts. If your business is struggling with debt, we can help you understand your options and craft a debt relief plan. Your business may be able to use either Chapter 7 or Chapter 11 to get the business’s finances back under control.
Protecting You From Foreclosure Actions
Balancing mounting debt and regular bill payments is tough. How can you meet your monthly mortgage payments and still tackle paying off your debt? Unfortunately, the reality is that failing to make your mortgage payments could result in foreclosure.
Filing for any type of bankruptcy, however, can temporarily halt foreclosure proceedings. The court will issue an “automatic stay,” which will stop any of your creditors from collecting on your assets — including your home. However, it’s important to remember that this court order is only temporary. You must take the necessary steps to complete your bankruptcy or pay off your debt, or you still risk losing your home once the stay ends.
Stopping Debt Collector Harassment
In addition to stopping foreclosure actions, the automatic stay will also put a stop to creditor harassment. The stay will require your creditors to speak to your North Fort Myers FL bankruptcy attorney if they want to contact you for any reason.
Can You Benefit From Debt Negotiation?
If you are looking for an alternative to bankruptcy, debt negotiation may be an option. You can speak directly with your creditors in order to negotiate the amount you owe. However, there are some very important factors to consider.
Firstly, many debt negotiation services are not going to consider your best interests. They may cut you a deal with your creditors that even leads you deeper into debt. Secondly, many services offer a guarantee that your creditors will agree to negotiate. That is a flat-out lie — not all creditors will agree to negotiate.
A knowledgeable North Fort Myers FL bankruptcy attorney can help you understand your options and ensure that you protect your interests.
Contact a North Fort Myers FL Bankruptcy Attorney Today
If you are sinking in growing debt, you don’t have to deal with the stress and uncertainty alone. Get the help you need by speaking to an experienced North Fort Myers FL bankruptcy attorney at Ryan J. Really, Attorney at Law, PLLC today.