THE FLORIDA BANKRUPTCY ATTORNEYS OF BUDDY D. FORD, P.A.
CHAPTER 7 BANKRUPTCY ○ CHAPTER 13 BANKRUPTCY
BUSINESSES AND INDIVIDUALS ● DEBTORS AND CREDITORS
REPRESENTATION WITH DIGNITY
At Buddy D. Ford, P.A., we understand the feeling of sinking in the quicksand of debt; the more you struggle to get out it seems, the deeper in debt you go.
Both individuals and businesses struggle with the concept of filing bankruptcy, feeling ashamed or worrying that vital future credit will be impossible to obtain. The bankruptcy laws exist to provide people and businesses with an opportunity to get debt relief and a fresh start. If you are facing insolvency, bankruptcy can give you or your business an opportunity to resolve problems that will only grow larger. Sometimes, bankruptcy is a very positive financial choice.
We do not judge any of our clients. On the contrary, we respect your decision and applaud your effort to make a positive change in your life. Financial disputes are one of the leading factors in divorces and can often cause stress and medical problems, such as depression. In many cases, a Chapter 7 bankruptcy or a Chapter 13 bankruptcy can relieve some of that stress. Contact an experienced Florida bankruptcy lawyer today to find out if bankruptcy is right for you.
CHAPTER 7 BANKRUPTCY - BUSINESS OR INDIVIDUAL DEBT DISCHARGE
Chapter 7 bankruptcies can be filed by both individuals and businesses. In a Chapter 7 bankruptcy, you keep the assets permitted by law (exempt property), and the remainder (if any) is divided by your creditors. Under the new bankruptcy laws, some of which took effect on April 20, 2005, with the remainder taking effect on October 17, 2005, individuals' ability to file under Chapter 7 is being severely restricted. Contact an experienced Chapter 7 bankruptcy attorney today to learn whether you can qualify for a Chapter 7 bankruptcy now while the old rules are still in effect, and what to do if you cannot.
CHAPTER 13 BANKRUPTCY - CONSUMER DEBT REORGANIZATION
Bankruptcy is not only for individuals who wish to discharge their financial obligations, but it also is for individuals who could pay their debt if it were restructured.
In some cases, our clients are cash-poor, but asset-rich. They do not want to file a Chapter 7 (or, under the new law, are prohibited from filing a Chapter 7) because they would lose non-exempt property they would prefer to keep. Chapter 7 places limits on exempt property (property you can keep despite debt discharge), but Chapter 13 allows individuals to restructure much of their debt, making more affordable payments over a 36-60 month period.
In many instances in a Chapter 13 consumer debt reorganization, some of your debt may be discharged or your interest rates may be lowered. For business debt reorganization, we can help your company file under Chapter 11.
To determine if a Chapter 13 bankruptcy is right for you, contact an experienced Florida Chapter 13 bankruptcy attorney today. We will be happy to discuss your situation and determine if bankruptcy is right for you.
