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Bankruptcy Can Be Your Long-Term Debt Solution

Many Florida residents and businesses struggle with mounting debt. Some people feel that there is a strong stigma surrounding these issues – but there doesn’t have to be one. When you regain control of your finances by filing bankruptcy, you take an important step in breaking the stigma and claiming a better financial future.

At Block & Scarpa, we see bankruptcy as a long-term solution to our clients’ financial troubles. It is a way for you to finally resolve the cycle of debt. We can help you examine your finances, complete the administrative filing process, and discharge or reorganize your debts.

What Are My Options For Bankruptcy?

Everyone’s financial situation is unique, and there are several forms of bankruptcy under which you may be able to able. An experienced attorney can evaluate your situation and point you towards:

  • Chapter 7 is also called liquidation bankruptcy. You liquidate your nonexempt assets to repay a portion of your debts. The rest of your debt is discharged.
  • Chapter 13 allows you to create a three-to-five year repayment plan to pay back your creditors. This option may be best if your home faces foreclosure.
  • Chapter 11 restructures a business’s debts. It is the most complicated – and the most expensive – chapter of bankruptcy to file.

At Block & Scarpa, a strategic bankruptcy lawyer can help you determine which chapter you are eligible for. Your income level and level of debt will primarily determine which chapter is best for you.

What Are The Benefits Of Bankruptcy?

Most people focus on the negative aspects of bankruptcy instead of its many positives. Filing for bankruptcy has many advantages, and it should be seen as a debt relief solution. Once you file for bankruptcy:

  • Your creditors will stop harassing you with phone calls and letters
  • The bank will stop its foreclosure actions against your home
  • It can stop the repossession of cars and other property
  • Your credit score will get back on track
  • You get to keep most of your property
  • You will once again have control over your finances

Learn About Your Debt Relief Options

Schedule an initial consultation at our offices in Vero Beach or Fort Lauderdale. We will discuss your options and you can decide whether bankruptcy is right for you. Call our Vero Beach office at 772-794-1918, or our Fort Lauderdale office at 954-546-7599. You may also send an email.