For many people, the word bankruptcy can bring ideas of financial ruin and struggles. Bankruptcy can be quite the opposite, it’s an opportunity out of financial struggles. Businesses and families alike have been recognizing the benefits of filing for bankruptcy. Bankruptcy can bring financial fresh starts to individuals and businesses alike. When you have an experienced attorney on your side, such as one from our team at Debt Relief Law Florida, you can use bankruptcy to your advantage. If you’re a small business or individual experiencing incredible debts and struggles, bankruptcy may be your golden ticket to a financial fresh start.
At Debt Relief Law Florida, our team believes that everyone deserves relief from the struggles created by debts. Our firm understands the multifaceted approach that must be taken when helping businesses through bankruptcy. Your business needs to be protected, but so does your personal financial situation. Chapter 11 bankruptcy is one of the fastest, most efficient forms of business bankruptcy, it addresses the business overall rather than the individual business owner. In Chapter 11 bankruptcy, your business can remain operational while finances and creditor payments are reassessed. Chapter 7 bankruptcy is another option for business or individuals. In the instance of businesses seeking Chapter 7 bankruptcy, the business is liquidated to help avoid creditor claims while protecting personal assets. For the individual, Chapter 7 bankruptcy is a liquidation of nonexempt assets for removal of unsecured debts. When you place a bankruptcy attorney in Boca Raton from our firm on your side, you can rest assured that your bankruptcy will be energetically pursued in your best interests.
Chapter 13 bankruptcy is another option for individuals looking to find their renewed financial path. Chapter 13 bankruptcy for an individual operates relatively close to how Chapter 11 bankruptcy functions for a business. It involves detailed analysis of finances and debts owed while things still remain operational. In Chapter 13 bankruptcy, an individual’s debts are restructured through a considerably more affordable repayment plan. Debts are paid off slowly in balances which fit into your income level. Sometimes, creditors may even reduce the debts owed when they’re distributed through Chapter 13 bankruptcy.
Our attorneys have been working for years to help people discover the benefits which can arise from business and personal bankruptcy. As you can see, each type of bankruptcy brings its own solutions, and the key to understanding your options is to consult with a qualified attorney. You are not alone in your financial struggles, we’re here to help you discover your options for a new financial start. Call today to schedule your free appointment and debt diagnostic. An attorney from our team can assess your specific financial situation and suggest your best course of action.