Everyone is dealing with events that have not occurred in this country since the 1918 Influenza Pandemic. As Florida’s cases of COVID19 jump exponentially, businesses that opened are closing again, or that expected to be back on track by now are instead waiting until fall to open. The cruise industry alone now does not expect sailings to begin until September. On top of that, yes, our state unemployment system is a dismal and well-planned failure. People are hurting, and often not sure if filing for bankruptcy is the answer.
People who have been able to remain stable since the end of the last recession find themselves staring once more into the abyss, young people just starting out without resources to ride it out, and even seniors working to supplement social security are having to break leases, seek forbearance on loans and credit cards, or even avail themselves of local food banks. One of the things I hear most often as a bankruptcy attorney is, “If I didn’t have all these minimum payments, I’d have enough money to live on!” If that’s what you say to yourself every month, then you have your answer.
It’s time to file for bankruptcy, whether it’s Chapter 7, 11, 12, or 13.
No matter what kind of debt is eating your reserves, chomping it’s way through your benefits, or carving up your paycheck, it’s time to think about what you could do without the debt, or if it were made manageable. That’s what bankruptcy does for people and for businesses.
That depends on what your circumstances are. Let’s break down the advantages of filing bankruptcy.
Can you afford not to file bankruptcy? If you’re having a hard time making ends meet now, then imagine a few more weeks or months down the road. Right now the advantages of filing bankruptcy are undeniable.
After a bankruptcy is discharged and your creditors have accepted the terms of the bankruptcy, they can’t come after you for unpaid debts. One of the key advantages of filing bankruptcy is the automatic stay goes into immediate effect. That means that all collection actions are suspended. No monthly payments may be made on any debt aside exempted debts such as child or spousal support. In addition, you may even be able to renegotiate mortgages, break a lease on a too-expensive rent, buy your car out of a note with a lower price, and possibly get a grip on student loans.
Bankruptcy is a specialty practice because each state has its down bankruptcy laws that fit within the framework of federal laws. At Van Horn Law Group, we have the experience to get you the best possible discharge for your individual needs. We fight for our clients, and that means that we’ll argue with the trustee, defend you against your creditors, and make sure that you walk away from bankruptcy with a clear path to rebuild your credit. We’ll look at your finances and direct you to the best bankruptcy for your personal or business circumstances.
We have the experience you need to get the outcome you deserve. Since 2009, we’ve filed thousands of bankruptcies for South Floridians in need of relief from overwhelming debt, and we can help you! Your initial consultation is free, and we can accommodate you either by phone or video conferencing app from your smartphone, tablet, laptop, or desktop. Or staff and attorneys will get you through the tough stuff, and make you feel heard and acknowledged. You’ll never be out of the loop. Our offices in Miami, West Palm Beach, and Fort Lauderdale are just a call away – get in touch and get that debt off your back once and for all.
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