Should I File for Bankruptcy?
In the current economic recession, individuals have faced unprecedented challenges in order to attain meaningful employment, pay their credit card bills, and remain current with their mortgages. If you find yourself facing what seems to be insurmountable debt, bankruptcy may be the option for you. Bankruptcy allows individuals a chance to discharge debts and get a fresh financial start. There are two types of bankruptcy in Florida: Chapter 7 and Chapter 13. If you need help filing bankruptcy in Fort Lauderdale, Florida, you need the help of Glerum Law. Glerum Law is a firm committed to offering clients individualized attention during the process of filing for bankruptcy. Overwhelming debt can lead to stress and sometimes shame. Bankruptcy can help you discharge credit card debt, medical debt, or debt due to back taxes. Our lawyers understand the challenges you are facing and strive to help you discharge your debt quickly and effectively.
What Are My Rights When I Decide to File for Bankruptcy?
Generally, individuals filing for bankruptcy are allowed to keep their homes and their cars. However, if the home is mortgaged or if the owner of a car still owes payments for the vehicle, mortgage and car payments must continue to be made if the individual wishes to keep a house or car when there is money still owing. Chapter 7 bankruptcy allows a debtor to determine the value of his or her assets and turn them over to a bankruptcy trustee. All debts are discharged after the non-exempt assets are distributed among the creditors. Certain valuables are exempt from this process. Chapter 13 bankruptcy allows individuals to keep a house under mortgage or a car if money is owed. A plan of payment is made to the court, and if the plan is approved, the individual can keep his or her car or house. Many wonder, “Should I file for bankruptcy?” An experienced lawyer can discuss your debts with you and evaluate your assets to determine what course of action is best for you. If you need help with filing bankruptcy, you need Glerum Law to guide you through the sometimes complex legal process involved.
How to File Bankruptcy in Fort Lauderdale, Florida
A bankruptcy is filed when a debtor completes all required paperwork and submits all requisite fees. Debtors are required to attend credit counseling before filing for bankruptcy. All assets and creditors must be included in the petition. After the paperwork is submitted, the debtor will be required to attend a meeting where a trustee or United States Trustee will review the debtors assets, finances, and liabilities. Sometimes creditors have to go to court and state their case before a bankruptcy judge.
If you need help with filing a bankruptcy in Fort Lauderdale, Florida, it is a good idea to consult with a bankruptcy lawyer to learn more about your rights and responsibilities. Glerum Law is committed to helping clients find a way out of critical financial difficulties. Contact the firm to learn more about how you can attain relief today!