If you’ve found yourself in the predicament of being in over your head in debt, one sensible approach to mitigating this crisis is to file for bankruptcy.
What a Bankruptcy Law Attorney Can Help With
Seasoned bankruptcy lawyers provide honest answers to common questions, such as:
- What are the pros and cons of filing bankruptcy?
- Is filing bankruptcy right for me?
- What type of bankruptcy should I file?
- How long does the process take?
- How does my relationship status affect the outcome?
A bankruptcy attorney can steer you in the right direction – and ultimately help you make an informed decision.
Quick Guide to Filing Bankruptcy in Tavares, Lake County Florida
Bankruptcy Defined
Bankruptcy is a type of legal proceeding that is handled by bankruptcy courts. The process is intended to:
Erase some or all of one’s debt
Provide leeway for debtors to settle some of the debt
Basic Requirements for Filing Bankruptcy in Tavares, Lake County Florida
Bankruptcy law stipulates that when filing for any type of bankruptcy, one must prove:
A Means Test Was Conducted
This is done to prove that you are indeed unable to pay the debt
Credit Counseling Was Completed
You participated in credit counseling – with an authorized advisor
The Most Common Types of Bankruptcy
Bankruptcy filings are subcategorized into two main types:
Chapter 7 Bankruptcy
Non-exempt assets are sold and the proceeds applied to portions of one’s debt. The remaining balance is erased when the bankruptcy case is closed (a.k.a. discharged).
The entire sales process must be overseen by a court-appointed trustee.
When filing for bankruptcy, however, it’s important to note that you are still responsible for certain debts, including: Spousal or child support, Student loans, and Taxes.
Good to Know
Chapter 7 stays on your credit report for 10 years. Subsequent filings do not occur before the
Find Debt Relief Chapter 13 Bankruptcy
Lake County Florida Lawyers can help you draft a repayment plan, lasting roughly three to five years. This is done to pay back some or all of your debts.
In exchange, filers may be granted an opportunity to retain current assets, including a house, car, and other possessions, for instance.
Securing the help of bankruptcy lawyers is highly recommended because heated negotiations and complexities often play out during Chapter 13 bankruptcy filings.
Good to Know
Chapter 13 stays on your credit report for 7 years. Subsequent filings may not occur before the
Get a Second Chance
Lake County Florida Lawyers Discuss the Possible Benefits of Bankruptcy Law Filings
A bankruptcy filing is generally perceived as the last resort for debt relief.
Depending on the type of bankruptcy filed, however, you may be able to:
Stop foreclosures| Halt a car repossession | Eradicate wage garnishments | Keep utilities on | Erase unsecured debt
Consult Bankruptcy Lawyers in Tavares, Lake County Florida
To learn more if bankruptcy is right for you, consult the seasoned bankruptcy lawyers at Campione & Hackney.
David M. Campione
With more than 25 years’ experience practicing law, David M. Campione brings a wealth of knowledge to the table when handling business litigation, real estate transactions, or bankruptcy cases.
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Harry T. Hackney
With more than 25 years’ experience practicing law, David M. Campione brings a wealth of knowledge to the table when handling business litigation, real estate transactions, or bankruptcy cases.
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Matthew C. Frey
For more than 5 years, Matthew C. Frey has continued to impress our clients with his proactive and aggressive approach to tackling bankruptcy, business law, civil litigations, and much more.
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