Money that is hard earned needs to be valued and protected. Engaging the services of a qualified bankruptcy attorney can help to transform an unpleasant event like bankruptcy, into a good opportunity to release you from your financial difficulties. Filing for bankruptcy is not a bad thing for those who need to, as it was created in the first place to provide relief to affected individuals.
Getting the right attorney to help you file for bankruptcy successfully is the first step. For those who stay in the Clearwater area of Florida there is some of the best bankruptcy attorneys’ services available like the Weller Legal Group for consultation. Whether you need a bankruptcy attorney in Clearwater or want a specialist to assist in Creditor Harassment Matters in Clearwater, Jay Weller and his team is tailor made for the job.
Some of the types of bankruptcy filings are:
Chapter 7 Bankruptcy: This is suited for those debtors who qualify and want to keep their properties covered in lieu of manageable monthly payments. This helps to eliminate almost all debt and debtors are not permitted to contact you legally for collections.
Chapter 13 Bankruptcy: This is a payment plan stipulated by the court in which an individual is given between three to five years to repay their debt through new income. The portion of debt that is to be paid back is calculated by the amount available from your income and the amount you owe to creditors. It is used both for minor and major debt resettlements and involves more responsibility in terms of repayment once the plan is invoked.
Chapter 11 and 12 Bankruptcies: These are invoked for businesses, which allow them to function without harming the business operations in any manner. It is one of the more common forms of bankruptcies among businesses in the US. It is very beneficial for those in the fishing industry or farmers as it gives them leeway to make payments during their commercial season, which is a major benefit.
Student Loans and Tax issues: Both of these are much more difficult to eliminate. For this the claimant will have to prove in a court of law that they are undergoing ‘undue hardship’, which infers they are unable to attain the lowest standard of living to repay a student loan or tax debts. One such example of undue hardship is becoming disabled.
Claiming bankruptcy is not a simple task as the claimant has to visit the court and appear before a judge. That is where engaging the services of a professional bankruptcy attorney in Clearwater is invaluable as it is a complicated process, which is best handled by someone with the requisite knowledge like a bankruptcy attorney.