Filing for Bankruptcy Is Easy with Walker Law Firm
Are you living in West Palm Beach and struggling with debt each and every month? Is your current financial situation causing significant stress and sleepless nights? Are you having trouble with your spouse over mounting debt? It might be time to learn about the bankruptcy process and how it can help you!
If you think you need to file for bankruptcy, it could be the solution to your problems. It can put an end to harassing phone calls from your creditors, do away with most of your debt, and help you avoid foreclosure on your West Palm Beach property.
A Guide to Filing for Bankruptcy in West Palm Beach
Individuals as well as families that are crushed under mountains of debt are given this opportunity by federal law. They can file for bankruptcy and effectively eliminate their debt to get a new start in life.
Here’s how you can go about doing that in West palm Beach, Florida.
1. Find Out If You Absolutely Need To File For Bankruptcy
You may not need bankruptcy proceedings even if you are facing large amounts of debt. The Exemption Laws of Florida may categorize you as “Judgment-Proof”, making a majority of your belongings safe from unsecured creditors. It will also be wise to note here that some kinds of debt can’t be gotten rid of no matter what.
These type of debts include:
- Student Loans
- Tax Debts
- Child Support Payments
You become eligible for filing for bankruptcy, if in addition to large amounts of credit card debt you are suddenly faced by bad luck in the form of divorce, job loss, or injury.
2. Figure Out What Kind of Bankruptcy You Are Eligible For
Chapter 7: This is the most prevalent form of bankruptcy filing these days. It can help eliminate a majority of your unsecured debts as long as you agree to give up all your “non-exempt” assets. Chapter 7 bankruptcy is possibly the fastest way to solvency.
Chapter 13: This one takes about 3 to 5 years to make you completely solvent. What happens is that instead of giving up your property, you agree to repay a part of your debts while living on a strict budget that is closely monitored by a trustee of the bankruptcy court. If you can’t do it or make your monthly payments on time, your chapter 13 bankruptcy is declared a failure while your debts remain your burden.
3. Are You Willing To Bear The Bankruptcy Costs of Up To $2500?
Remember, the whole process is long and complicated, and you will have to pay up a lot more than just the filing fee. The regular expenses include fees for debt management education, credit counseling, preparing forms, getting your paperwork in order, and charges to be paid for court procedures.
The good news is that depending on your case, you may be able to qualify for a fees waiver or score free legal aid services to help you through the filing process.
The Last Word: Get Help And Make Your Life Easier!
Finally, there is plenty of help out there for bankruptcy Chapter 7 and Chapter 13 filing. If you need to file for bankruptcy today in Palm Beach County contact the attorneys at Walker Law Firm, P.A, located in downtown West Palm Beach, FL at 561.689.1512.