An Experienced Bankruptcy Attorney in Fort Lauderdale Can Help You

by | Aug 16, 2013 | Lawyers and Law Firms

We have recently been through some trying financial times and we have all been affected by them to some degree. If you have become a victim of this financial downturn, you are far from alone. However, there can be a light at the end of the tunnel with some assistance from a Bankruptcy Attorney Fort Lauderdale.

Bankruptcy laws were enacted to benefit individuals who have become overwhelmed by their financial obligations to the point that they have no reasonable expectations of ever being able to pay them off. The word “bankruptcy” used to carry some very negative connotations and people were disinclined to take advantage of its benefits, but fortunately, today it is seen as a practical and sensible way of dealing with a financial burden which has become unsupportable.

A Bankruptcy Attorney in Fort Lauderdale can help you get out from under this burden and help you right your financial ship. Many firms offer a free initial consultation, during which your attorney will determine if bankruptcy is the right choice for you, based on your specific set of circumstances. If he decides to file for bankruptcy he can choose between chapter 7 and chapter 13 proceedings, depending again on your circumstances.

In a chapter 7 bankruptcy, you may have to sell off some of your assets, but there are a number of items which are exempted from this liquidation. Under these guidelines you will usually pay your creditors less than the full balance of your debt. That amount is negotiated between your attorney and the court. This type of bankruptcy is usually selected when you are completely financially overburdened.

A chapter 13 bankruptcy is often used when an individual is very heavily in debt, but can still pay day-to-day living expenses. Under this chapter, a certain percentage of your debt will be discharged, but you agree to pay the remaining amount according to a court-approved plan which your Bankruptcy Attorney Fort Lauderdale will negotiate on your behalf.

In either of these cases, as soon as your papers have been filed with the court, the bills and harassing phone calls will cease. Bankruptcy no longer carries the social stigma it once did, and many individuals have their credit rebuilt within three years. If you see yourself slipping into a financial black hole, contact a Bankruptcy Attorney Fort Lauderdale today.

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