Fort Walton Beach Bankruptcy Lawyer

Let Vanover Law Firm P.A. Help You Regain Control of Your Life

The COVID 19 Pandemic has left millions of Americans with destroyed credit and huge piles of debt. Are you struggling to pay your bills? Do you feel like your debt seems impossible to overcome? Are you constantly being harassed by creditors every single day? If you answered “yes” to any of these questions, then bankruptcy could be an option to allow you to get a fresh financial start. However, the legal process can be complex, which is why having an experienced lawyer on your side can help you obtain the best outcome in your case.

If you are thinking about filing for bankruptcy, Vanover Law Firm P.A. can review your financial situation, determine your available legal options, and help you get a fresh start in life. Our Fort Walton bankruptcy lawyer can guide you through the complexities of the legal process, while protecting your rights and best interests when dealing with creditors.

Do not hesitate to contact ustoday at (850) 999-0006 and schedule an initial consultation.

Florida Bankruptcy Laws

Bankruptcy is a legal process for people – who cannot repay their debts to creditors – to seek relief from all or some of their debts. There are two main types of bankruptcy: Chapter 7 and Chapter 13.

Chapter 7 bankruptcy is considered a liquidation bankruptcy, which eliminates most or all of your unsecured debts (e.g. credit cards, medical bills, utility bills, etc.). Chapter 7 is also referred to as personal bankruptcy. Once you file, the court will impose an “automatic stay” to prevent creditors from attempting to collect what you owe them. A trustee will be appointed to sell any unexempt property to pay back your creditors.

The following are common types of bankruptcy exemptions in Florida:

• Homestead
• Personal property
• Wages
• Motor vehicles
• Retirement accounts

Low-income debtors with a small amount or no assets typically qualify for Chapter 7 bankruptcy. However, you must first take the “means test” to determine if your income is above the average median in the state. If that is the case, then you may qualify for Chapter 13 bankruptcy instead.

Chapter 13 is known as reorganization bankruptcy. Rather than selling your property to pay back creditors, the court will create a repayment plan for you pay back all or a portion of your debts.

Ready to Review Your Case Today

Bankruptcy may not be for everyone, especially if there is still a light at the end of the tunnel to overcome debt. We will go over other alternatives available for you to get a fresh financial start before deciding whether to file for bankruptcy. We are prepared to help you get your life back immediately.

Contact ustoday to learn more information about our legal services.