If your debts are causing you financial stress and are getting in the way of your life, you may want to consider bankruptcy and hire the bankruptcy lawyer offering services in all of Florida. Bankruptcy is an easy process that can help you stop the harassing phone calls and bill collectors and is worth considering if you are in a tough financial situation. You can think about bankruptcy when you have enough equity in your home to cover your debts, have missed payments on many accounts, or have reneged on a loan. A bankruptcy lawyer in Florida can help you in deciding whether bankruptcy is right for your situation.
Bankruptcy is a complex process and is best handled by a bankruptcy attorney in Florida. A bankruptcy lawyer in Florida can help you in filing for bankruptcy by giving advice on your financial situation, giving you options, and making sure that your debts are not distributed to your creditors. But before you file for bankruptcy, you must understand and know your alternatives. If you need to file for bankruptcy to prevent foreclosure on your home and force a lender to give you more time to repay your mortgage, a Chapter 13 bankruptcy might be right for you.
A bankruptcy petition must be filed with the Office of the Clerk of the court in your county. This paperwork tells your creditors what you are trying to do, how much money you have, and when you plan to repay your debts. This petition is usually referred to as a petition for discharge. In addition to the bankruptcy petition, creditors will likely be given other paperwork and instructions.
When you file for bankruptcy, you will generally be granted either a chapter 7 bankruptcy or a chapter 13 bankruptcy. You will be asked to provide proof of your financial situation, including your income and assets, to prove that you cannot pay your debts. Once you have submitted your paperwork to the Office of the Clerk of Court, you will be advised of the status of your petition, which will tell you what happens next. One of the next steps to take after you receive the complaint is to appear in court, where a bankruptcy judge will review the case and determine whether or not you should file for bankruptcy protection.
If your bankruptcy is granted, you will be assigned an administrative law judge (ALJ), who will preside over the bankruptcy case. At this point, you will be responsible for paying the appropriate filing fee, as well as any other applicable expenses. If no financial hardship is present, you may choose to have the ALJ resubmit your bankruptcy in which case you will pay the filing fee again, but will not be required to pay the additional administrative fee. However, if a significant financial hardship is present, you must pay the filing fee, including the administrative fee, again in order to file your bankruptcy petition.
In addition to the filing fee, you will also be responsible for paying an outstanding amount of creditor interests, litigation costs, late charges, collection costs, and other expenses. Your lawyers fees will also be assessed, so it’s in your best interest to budget accordingly. Once all the necessary paperwork has been submitted, you will be informed by the court regarding your status and the date of your hearing. If you have filed bankruptcy online, you will be able to access a calendar of your hearing date online, which will make the process much more convenient. If you need to make any changes to your finances prior to your hearing date, you will need to notify your bankruptcy lawyer. For more information about the bankruptcy process and the various options available to you, contact a bankruptcy lawyer today.