San Carlos Park FL Bankruptcy Attorney
It doesn’t take very long for debt to spiral out of control. When an unexpected crisis hits, such as a job loss, a divorce, or a serious accident, you may find yourself struggling to pay the bills. And the higher your bills pile up, the more impossible it may seem to get your finances back on track. But you do have some options. Filing for bankruptcy can allow you to regain control of your finances. But it’s a big decision that shouldn’t be taken lightly. Weigh the pros and cons by speaking to an experienced San Carlos Park FL bankruptcy attorney. Contact Ryan J. Really, Attorney at Law, PLLC today.
We Can Help You Get a Fresh Start
We can help you assess your situation and take necessary steps towards getting out of debt. Whether you’re looking to reorganize or discharge your debt, we offer assistance in the following areas of bankruptcy:
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
- Small Business Bankruptcy
- Debt Negotiation
- Defense Against Foreclosure
It’s important to have the expertise of a San Carlos Park FL bankruptcy attorney in determining which bankruptcy chapter best fits your situation, as well as how to navigate the filing process.
Chapter 7 bankruptcy, also known as a “straight” or “liquidation” bankruptcy, allows you to sell off assets and property in order to repay your creditors. Since this type of bankruptcy typically only takes four to six months to complete, it is by far the quickest type. In addition, Chapter 7 can help stave off any harassment from creditors.
Filing for Chapter 7 requires taking the Means Test. You will pass this test only if your income is less than the amount of debt that you owe.
If you do not qualify for Chapter 7, then you more than likely will qualify for Chapter 13 bankruptcy, which is also known as a “reorganization” bankruptcy. Through Chapter 13, you can reorganize your debt into an affordable repayment plan that spans a length of time from three to five years long. In addition, Chapter 13 also awards the following benefits:
- Protection against creditor harassment and foreclosure;
- Development of a reasonable repayment plan; and,
- Discharging of any eligible debt after the payment plan ends.
One of the best parts about Chapter 13 is that it allows you to keep any non-exempt property that you may possess. Because of that, you may want to consider Chapter 13 if you own property such as a home, cars, or any investments.
Unfortunately, running a small business often means taking great risks that don’t always pan out. These risks usually carry a mountain of debt that seems impossible to climb. When facing such a situation, bankruptcy may be your only option. Fortunately, our knowledgeable San Carlos Park FL bankruptcy attorney will help you weigh your legal options and draft an effective debt relief plan to regain control of your business’s finances.
Typically, small businesses can take advantage of the following types of bankruptcy:
- Chapter 7: through Chapter 7, businesses can sell off their assets in an attempt to repay their creditors. After all available assets are sold off, then the business is usually dissolved.
- Chapter 11: with Chapter 11, your business does not need to end. Instead, you’ll be able to reorganize your debt in order to repay your creditors over time.
Insurmountable debt does not need to end with the lose of your most valuable asset — your home. Though you may be struggling to pay your mortgage, adding the stress of losing your home too will only make matters worse. If your home is in danger of foreclosure, filing for bankruptcy can help.
Whether you decide to file for Chapter 7 or 13, the court will immediately issue an “automatic stay” which will halt all legal actions against you, inlcuding foreclosure. Under the automatic stay, creditors cannot collect on your assets, which means your home will be safe from foreclosure for a little while. Though, it is important to remember that this automatic stay is only temporary, and you will need to take additional steps in order to fully protect your home. Consult with our San Carlos Park FL bankruptcy attorney if your home is in danger of foreclosure.
Help With Debt Negotiation
Debt negotiation is one alternative to bankruptcy that you may want to consider. Yet, it is vital to know that many debt litigation services will not consider your best interest. By working with an experienced attorney, you can help ensure that your debt negotiation will go smoothly.
Speak to a San Carlos Park FL Bankruptcy Attorney
Get help with your bankruptcy case by contacting a San Carlos Park FL bankruptcy attorney at Ryan J. Really, Attorney at Law, PLLC today.