Bankruptcy

Get Educated on Bankruptcy in West Palm Beach

Your Local West Palm Beach Bankruptcy Attorneys 

No matter how good your financial situation may be at the current time, bankruptcy is something you should become educated about as soon as possible. While it’s not going to happen to everyone, at some point in the future, it may be the only option you have left.

Here at Walker Law Firm, we specialize in helping our clients make it through the process with their pride intact. Contrary to popular belief, bankruptcy is not the end of the world. So long as you have a professional bankruptcy law firm on your side, it could be the best tool you’ll ever lose.

Let’s look at some of the reasons a person might have to file for bankruptcy…

Medical Fees

A recent study performed by Harvard University found that almost 67% of bankruptcy cases in the US are brought about due to an inability to pay medical fees. While some European countries might offer free healthcare, we have to pay for our treatment in America. Sometimes people simply don’t have the funds they need. It’s not only those who are uninsured who experience issues. The study found that almost 78% of bankruptcy filers had some form of health insurance.

Loss of Job

Ever since the global financial collapse of 2008, the traditional job market has been very unsteady. Indeed, that is why a significant number of people who file for bankruptcy list this as their main reason.

Divorce or Separation

Court battles can rage on for months when trying to split money after a divorce or separation. That is the third most used excuse for filing for bankruptcy in the US today. Not only is money being taken away by your ex-partner, but you also have to deal with astronomical legal fees. 

Let’s explain some of the main bankruptcy types the Walker Law Firm can help you with

Chapter 7

Chapter 7 bankruptcy occurs when a company is completely out of funds and unable to continue. A trustee is usually appointed to liquidate all the company’s assets and use the money to pay off any debts owed. If you face this reality, we can help to make the process much less stressful that it otherwise might be. Our team understand how to ensure you get the best possible outcome.

Chapter 13

Chapter 13 bankruptcy is where you use your income to pay some or all of the money you owe to creditors over a long period. It can vary from three to five years. The most-important element of chapter 13 bankruptcy is your repayment plan. A court must approve this plan before you are allowed to go ahead and start making payments. Our team are well trained in understanding how to get the best deal for you. There is no getting away from the fact that you’ll have to pay something, but we’ll do our best to ensure it’s as little as possible.

Walker Law Firm, P.A.

So, if you’re looking for the best bankruptcy attorney in West Palm Beach, you’ve most certainly come to the right place. Our lawyers are trained to the highest of standards, and they always guarantee to do everything within their power to help. People who fail to use a reputable law firm like ours always end up in a worse position. While bankruptcy can be a troubling time for everyone involved, it’s not something you need to worry about too much. So long as you have the right team of specialists on-side, you will get through the process without too much damage to your pride

Acting fast is usually the best way to ensure you receive a good outcome, and so there is no time to spare. Whether or not your bankruptcy is voluntary matters little. Dragging your feet at a time like this will only mean you end up in a worse position. If you have a family to support, you need to start considering your options very soon. If you try to deal with bankruptcy without the help of a respected attorney, you’re going to get into a real mess.

With that in mind, you can get in touch with us using the links provided on this website if you would like to arrange a consultation or learn more at our bankruptcy questions answered section by clicking, "Here". We aim to keep our fees as low as possible because we understand what bankruptcy means for your finances. Our team is always on hand to help.