Filing for bankruptcy may seem like the end of the road for your financial stability, but it can be the start of a new financial beginning. Despite the stress this process can bring, our Daytona Beach commercial law lawyer can guide you through the bankruptcy filing that fits your situation and meets your needs.
You do not have to go through this challenging time alone. A Daytona Beach bankruptcy lawyer from Bogin, Munns & Munns can help restructure or pay off your debt, leaving you free to start anew.
We can help you promote and protect your family or business’s future in Daytona starting today. You can call our legal team now and explore your options during a confidential bankruptcy consultation. You can rest assured that we will prioritize your needs.
Our Daytona Beach, FL, Bankruptcy Attorneys Are Ready to Help You
We will stand with you during this difficult time. Filing for bankruptcy can seem like a complicated and monumentally overwhelming process, especially if you plan to file for bankruptcy yourself in Florida. However, with an attorney familiar with these kinds of cases, you can save time and gain peace of mind that a legal professional is handling the matter.
A Daytona Beach bankruptcy lawyer from Bogin, Munns & Munns can:
- Represent you in court and all bankruptcy proceedings; some debtors do not need to appear in person, according to the United States Courts
- Determine which bankruptcy filing best fits your situation; we’ll explain the different forms of bankruptcy, such as Chapter 7 and Chapter 13, and the difference between them.
- Help you understand what your financial future can look like before and after bankruptcy relief
- Apply the appropriate bankruptcy laws to your case, whether it’s state, federal, or both
- Implement a plan to address your financial concerns
- Help you value your assets
- Communicate with credit companies or anyone else to whom you owe payment
- Keep your bankruptcy case on track, ensuring you meet critical deadlines and file essential paperwork, such as your tax returns
We Will Take Care of Your Entire Case
We can help with matters such as consolidating your assets and determining which aspects of your life might be relevant to the court. Our bankruptcy attorneys will take care of all tasks for you and update you on your case’s developments.
Our law firm will draw upon decades of bankruptcy knowledge and experience to develop a strategy that leads to a favorable result. The following possessions could factor into your ability to pay off, restructure, or dismiss your debts:
- Vehicles, like cars and boats
- Your home or other property
- Antiques, like art pieces
- Gold and silver jewelry with real gemstones
- Expensive electronics
- Ownership in a business or another financial endeavor
This is not an exhaustive list, but it can give you an idea of what your case could involve.
To consult with an experienced bankruptcy lawyer serving Daytona Beach
(855) 780-9986
We Understand the Common Bankruptcy Chapters and Will Determine Which One Is Right for Your Situation
While there are multiple chapters of bankruptcy under which you can file, finding the one that meets your situation’s needs can be difficult without help. Below, we will discuss the details of each applicable bankruptcy chapter.
However, if you have any questions or concerns regarding these chapters, feel free to call Bogin, Munns & Munns’ law office in Daytona Beach, FL. We’re located on Concierge Dr., right off LPGA Blvd. We also answer frequently asked bankruptcy questions on our site.
Chapter 7 Bankruptcy Could Eliminate Portions of Your Debt
Chapter 7 bankruptcy allows for the “liquidation” of your assets. Instead of creating a repayment plan like with Chapter 13 bankruptcy, a trustee will take your nonexempt assets and sell them.
It then uses those proceeds to pay creditors. Certain creditors take precedence. For example, delinquent child support will be paid before your unpaid water bills.
With this bankruptcy filing, you could eliminate certain kinds of medical or credit card debt. Chapter 7 protects some assets, like retirement and college funds. Your legal team can tell you if there are any other assets that are exempt under Chapter 7 bankruptcy.
You will need to satisfy the requirements of a “means test” that will measure certain aspects of your assets and income. Your lawyer will speak to you about this and how it could affect your situation. This form of filing commonly takes only a few months to resolve.
However, it can take longer if:
- There is a related lawsuit;
- Property has to be sold; or
- You need to provide the court with more documents.
Chapter 13 Bankruptcy Requires You to Make Payments
If you make enough money, you can file for Chapter 13 bankruptcy in Florida. You must also have debt that totals less than $2,750,000 (as of the date you filed). Chapter 13 bankruptcy requires you to make smaller payments over a few years. The court will work with you to create a payment plan that a trustee will handle. Most repayment plans last for three years; however, the court may approve a longer period “for cause.”
The trustee will manage your payments and give them to your creditors.
You might need to file a disclosure statement at this point. The statement and your plan will need to be confirmed before the case progresses.
Your individual relationship to your business and your specific financial circumstances will determine how you file. You should work with a Daytona Beach bankruptcy lawyer from Bogin, Munns & Munns to learn more about what chapter of bankruptcy protection could apply to your situation. You can leave the details to us as we figure out how to improve your financial standing.
Why Waiting Could Worsen Your Financial Situation in Daytona Beach
Some people are more inclined to ignore a problem until they have the time, energy, and knowledge to deal with it. When the problem involves your finances, you do not have time to waste.
We know that your situation is stressful and scary. It is important to remember, however, that you cannot resolve your debt until you confront it and formulate a plan to pay it off.
By waiting too long to take action via the bankruptcy process, the following factors could impact your case:
Interest Accumulation
There is an aspect of bankruptcy that can be a huge detriment for a lot of people: interest. When you started accumulating debt, you might have held the belief that you could make your payments on your own time. However, as time passed, you likely collected a fair amount of interest, making matters harder to handle.
The longer you wait to tackle your debt, the more challenging your circumstances will get. The figures you owe can only grow until you create a solid plan. Consider retaining a bankruptcy lawyer with legal experience who can help you find debt relief and a plan of action to improve your financial status.
The Strain of Financial Debt Can Take a Toll
Financial stress can cause immense stress in relationships and even end them as well. Long-term difficulties can make a significant difference in your daily stress, lifestyle, and options for the future.
Over 60% of U.S. adults state that money is a significant stressor, according to the American Psychological Association. You are not alone in your struggles, but remember that money troubles can affect other parts of your life besides your wallet.
Additionally, some forms of debt can transfer to your children. You do not have to leave behind a monetary deficit for your family to handle when you are gone. Our bankruptcy attorneys serving Daytona Beach, FL, can help and offer the guidance you seek at this challenging time.
Daytona Beach Bankruptcy Lawyer Near Me
(855) 780-9986
Get Help From Our Daytona Beach Bankruptcy Lawyers Today
Our firm supports our clients, guiding them through their reservations and worries. We have helped people with these cases resolve their bankruptcy legal issues for years. We can file your bankruptcy petition and protect your rights and interests. You will receive straightforward legal counsel when we discuss your situation with you.
Call today to talk with a Bogin, Munns & Munns team member today about how a Daytona Beach bankruptcy lawyer could help you, your family, or your business. The sooner we hear from you, the sooner we start working on your financial recovery.
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