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The Bankruptcy Process in Florida and How it Can Help You!

Bankruptcy is a legal proceeding in which a person who cannot pay his or her bills can get a fresh financial start. The right to file for bankruptcy is provided by federal law, and all bankruptcy cases are handled in federal court. Filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law.  Bankruptcy is effectively used to stop wage garnishments, stop a foreclosure sale, modify your mortgage, lien strip a second mortgage, reduce car payments, eliminate certain taxes and of course reduce the entire debt liability and give the filer a fresh start.

Because bankruptcy will stop all creditor calls, collections activities and harassments, wage and paycheck garnishment, and repossession of your car or other personal property, postpone or stop foreclosure on your home, and eliminate all or most of your debts, it is one of the best strategies to deal with debt.  Bankruptcy can also restore or prevent termination of utility services such as electricity and water and gives you the ability to challege claims of creditors that are false or more than you actually owe.

Bankruptcy can provide a path which lets you keep your property and still wipe out most if not all of your debt. The amount of your debt, your current income and current expenses, and the value and type of property you want to keep, all factor into the  decision to file bankruptcy. The key to a successful bankruptcy is in the preparation and execution of your customized debt relief strategy. 

Most people in Florida qualify for bankruptcy protection, the main consideration is which chapter best fits your needs.

To learn what options fit your specific needs and goals,  contact a local bankruptcy attorney today.

Learn more about Chapter 7 Bankruptcy

Learn more about Chapter 13 Bankruptcy

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