Filing for bankruptcy can be a stressful, emotionally-draining process. If you are a business owner, you may have concerns about your income. If your personal debts outweigh your assets, you may have concerns about your family home and children’s well-being. With the help of a Titusville bankruptcy lawyer, you do not need to educate yourself on Florida’s bankruptcy laws.
An attorney from Bogin, Munns & Munns can help you navigate this process. We can determine what chapter of bankruptcy you should file under and protect you against unscrupulous creditors.
We offer free case reviews to prospective clients who are considering bankruptcy. To speak with a member of our staff, call (321) 567-5470.
Why Many People File for Bankruptcy
There are many misconceptions surrounding what it means to file for bankruptcy. Many people hear “bankruptcy” and assume that it means that an entity has no money. This is not true. Essentially, bankruptcy means that you have more debt than you can pay for. Financial troubles could put a strain on your business’s ability to turn a profit or your ability to maintain housing.
A lawyer can handle the process of filing for bankruptcy on your behalf. They can explain the legal process, evaluate your financial options, and work to get you a “clean slate.”
To consult with an experienced bankruptcy lawyer serving Titusville, call 855-686-6752
We Can Determine Which Chapter of Bankruptcy Suits Your Needs
As noted, many people hear the phrase “filing for bankruptcy” but do not fully understand what it means. The United States Courts explain that there are multiple chapters of bankruptcy under which people can file.
Some chapters of bankruptcy include:
Chapter 7 bankruptcy is sometimes referred to as the “liquidation” chapter. When you file under this chapter, a trustee will examine your assets and determine whether anything can be liquidated (or sold) to offset your debts. The Florida Bar reminds us that some properties are “exempt,” meaning that they cannot be liquidated. So, in some circumstances, your primary residence cannot be liquidated.
If you do not have any assets, there are other ways of satisfying your creditors. Your lawyer can explain more about this process.
Chapter 11 bankruptcy usually applies to commercial businesses. This chapter is sometimes known as “reorganization.” In this process, the trustee will examine your assets and work with you to restructure your debt.
Chapter 13 bankruptcy is also referred to as a “reorganization” chapter. However, in this instance, this applies to individuals who want to manage their mortgages, car payments, or things of the like. Your lawyer will work with you to create a plan that will have your debts paid off in three to five years.
In some Chapter 7 cases, debtors are able to have some of their debts dismissed entirely. This is not the case in Chapter 13 bankruptcy. If you can work out a payment plan, you will be protected from lawsuits, the garnishment of your wages, and other measures while your plan is in effect.
Understanding how bankruptcy works in Florida can be very confusing. However, you do not need to memorize every bankruptcy law to regain control over your finances. Your Titusville bankruptcy lawyer can do that for you. When Bogin, Munns & Munns takes on your case, all you have to worry about is your mental health. You can discuss your legal options with us today at no charge. Dial (321) 567-5470.
Titusville Bankruptcy Lawyer Near Me 855-686-6752
How Representation From Our Team Can Help You
Many people try to file for bankruptcy by themselves. While you can legally do this, you may encounter many difficulties in settling your debts. For instance, some creditors may call you several times a day demanding payment. Other times, you may not know how you can restructure or reorganize your assets in a way that gives you a fresh start.
Bogin, Munns & Munns is committed to helping you get your finances in order.
We can help by:
Evaluating Your Situation
We will need to evaluate your finances and assets to determine which chapter of bankruptcy applies to you. Upon evaluating your situation, we may even find that filing for bankruptcy is not your best option. We can determine your options and provide legal counsel accordingly.
Protecting You Against Creditors
Some creditors can be particularly aggressive, especially if there is a lot of money at stake. However, while you are filing for bankruptcy, your creditors cannot harass you in many instances. If this does happen, you can refer them to your lawyer.
Calculating Your Assets
Suppose that, for example, you qualify for Chapter 7 bankruptcy. In this instance, you could liquidate your assets to pay off your debts. This could include selling your car, personal effects, or a secondary residence. However, you may not fully understand the monetary value of these items. Your lawyer, along with financial experts, can calculate the scope of your assets and explain whether liquidation could help you.
Representing You at Any In-Person Meetings
You may need to attend a variety of meetings while the bankruptcy process unfolds. This could involve meetings with trustees, bank representatives, and creditors. They may employ a variety of tactics designed to pressure you into making certain decisions. Yet, with a lawyer on your side, they can represent you in any necessary meetings. They can also defend you against any practices that could infringe upon your legal rights.
Reviewing the Accuracy of Any Paperwork
With any legal process comes paperwork. While filing for bankruptcy, you will need to fill out many forms that require you to document your properties, their values, your current assets, and what you owe your creditors. Even the smallest error could hinder the entire legal process.
When a Titusville bankruptcy lawyer takes on your case, they will review your paperwork for completion and accuracy. This could help make the legal process smoother and allow you to get your finances back on track.
Bogin, Munns & Munns Is Here for You
Our legal team understands that filing for bankruptcy can be a discouraging process. We want to understand the scope of your situation so that we can provide legal counsel as necessary. A Titusville bankruptcy lawyer can help you understand your options and manage the bankruptcy process on your behalf. To learn more, call us today at (321) 567-5470.