Seeking Debt Relief in Florida:
From time to time we may find ourselves in debt that we did not anticipate. Therefore, it may be best to seek legal representation in an attempt to protect yourself from creditors in case you begin to fall behind on some of your bill payments. Legal representation can help you find debt relief.
If you seek legal representation for debt relief, an attorney can best advise you on your legal rights when it comes to repaying debts. In addition, the attorney can give you important information about debt consolidation or working out payment plans with certain creditors.
Finding a Lawyer That’s Experienced in Personal Debt:
In a worst case scenario, an attorney may give you the option of bankruptcy. Bankruptcy should only be a last resort when it comes to repayment of debts. However, in case debt becomes too overwhelming it is good to know that the option does exist.
Essentially, there are two different kinds of Bankruptcy that a consumer has available to consider. The first and probably most common is Chapter 7 Bankruptcy. Chapter 7 Bankruptcy is a complete liquidation of nearly all financial debt currently owed. However, in order to declare Chapter 7 the person must meet a certain criteria.
Chapter 7 Bankruptcy entails pretty much getting rid of all debts however, you are extremely limited to any assets you may retain. For example, more than likely you can retain ownership of a home if you plan to declare Chapter 7 Bankruptcy. Continue reading “How Legal Representation Can Help You Find Debt Relief”