Sometimes we all fall into debt and it can be tough to pay the bills. There are many different ways in which someone can accrue debt, such as car loans, student loans, medical bills, lost wages and many more. If you’re stuck in an endless cycle of making minimum payments, filing for bankruptcy could be an option. It can help eliminate your debt, give you a fresh start and will put an end to the collection calls. If you’ve fallen into debt, it’s important to talk with a bankruptcy attorney in Boca Raton to discuss the different options you have. Sometimes, bankruptcy may be the best option. At Debt Relief Law Florida our attorneys will look at your financial situation and help you decide the best option to help you get out of debt. There are two main options when it comes to filing for bankruptcy as an individual. Chapter 7 and chapter 13 are the two options individuals have and depending on how much debt you have and what type of debt you’re in can factor in to which option is best for you.
Chapter 7 bankruptcy is a liquidation process in which you must sell your assets to pay back as much of your debts as possible. Typically, those who file for chapter 7 bankruptcy are unable to pay their bills and this serves as a way to start fresh. Chapter 7 bankruptcy is often popular for those who qualify because it can eliminate all of your debts and allow you to start over. You can then begin to rebuild your credit and over time it can help your financial situation. If you’re unsure if you may qualify for chapter 7 bankruptcy, call Debt Relief Law Florida to speak with one of our bankruptcy attorneys.
For those who don’t qualify for chapter 7 bankruptcy, chapter 13 bankruptcy could be an option for you. Chapter 13 is for those who can pay some of their debts, but not all. When you file for chapter 13 bankruptcy your debts can be cut down considerably and it can make it much more manageable to pay your debts.
Our attorneys at Debt Relief Law Florida can help you decide if filing for bankruptcy is the best option for you. When you file, you can start fresh and begin to rebuild your credit as you regain your financial freedom. Our attorneys can help go over your options for debt relief in Boca Raton. You have options, and the first step is to speak with a bankruptcy attorney. Call Debt Relief Law Florida today to learn about your options to regain your financial freedom.