Bankruptcy Lawyer in Fort Lauderdale and Hollywood

Knowledge is Power.  Know your options. During your free consultation with our bankruptcy lawyer in Fort Lauderdale or Hollywood, you will learn what the creditors can and cannot do.  We will discuss your rights and bankruptcy.  Sometimes bankruptcy is not the right choice or time to file.

The People’s Advocate has the goal to help every individual who is in debt and wants to have a fresh financial start. We understand how difficult it can be to live with a heavy burden of debt and having to deal with constant phone calls from creditors, not knowing how to get out of debt and get your life back on track.

We have years of experience in the field and are more than happy to provide a helping hand to anyone considering bankruptcy. If you are thinking about filing for bankruptcy, you can be sure that we can provide you with efficient and effective counsel and help you make the right choice.

What Does It Mean to File for Bankruptcy?

Bankruptcy is a legal process that helps individuals or businesses that are unable to pay their outstanding debts to get rid of those debts and start anew with a clean financial slate. When you file for bankruptcy and obtain a bankruptcy discharge, not only are you relieved of most of your debts, but you are also free from the creditors, who can no longer file a lawsuit in order to collect your debts.

If you are dealing with a huge amount of debt that prevents you from leading a normal life, and if you are facing foreclosure, wage garnishment, or property repossession, then filing for bankruptcy might be the right choice for you.

What Types of Bankruptcy Can You Choose to Declare?

According to the Bankruptcy Code, there are six different types of bankruptcy you can file:


●        Chapter 7 – for individuals and businesses that want to liquidate their debt

●        Chapter 9 – for municipalities, in case of reorganization

●        Chapter 11 – for businesses, in case of reorganization

●        Chapter 12 – for debt relief to family farmers and fishermen

●        Chapter 13 – for individuals who want to reduce their debt through specific payment plans

●        Chapter 15 – for parties from more than one country.

Chapter 7 and Chapter 13 are the most popular and recommended types that you should consider.

If you are dealing with expensive bills, big medical expenses, expensive divorce, or a loss of income due to unemployment, the best choice may be to file for Chapter 7 bankruptcy In order to determine whether or not you are eligible to file for Chapter 7 bankruptcy, you need to take a Means Test, which evaluates your monthly income and family size against a schedule published by the U.S. Trustee’s office. If a majority of your debt is from the operation of your business, the Means Test is not used.

If you are eligible and you file for Chapter 7 bankruptcy, except for Exempt assets, all of your assets are liquidated and the money from selling them goes to your creditors. You are free from all of your debts, with the exception of child support. It takes approximately 3-4 months for this type of bankruptcy to be discharged.

Chapter 13 bankruptcy is a better choice if you have a steady income, as it allows you keep your home, vehicle, and other important assets. However, it does not include paying off overdue child support, home mortgage, student and car loans, and taxes.

If you file for this type of bankruptcy, you need to provide a repayment plan to the court showing how you are going to pay off your debts. The period for paying them off is 3-5 years. Note that if you make more money, the Trustee usually increases your payment required under the plan.  Additionally, only 1/3 of the Chapter 13s are successful.  That means 2/3’s are dismissed without a discharge.

Are There Any Negative Consequences of Bankruptcy?

The most obvious negative consequence of bankruptcy is the loss of property, that is, your home and your car, as well as insurance and pension. Of course, this depends on the type of bankruptcy that you file.

Another negative consequence is the one that reflects your credit score. If you file for Chapter 7 bankruptcy, the record will remain on your credit report for 10 years. If you file for Chapter 13 bankruptcy, the record of your bankruptcy discharge will stay on your credit report for 7 years. However, you can always rebuild your credit and get back on track over time.

If you are seriously considering filing for bankruptcy, you should seek bankruptcy lawyer or attorney in order to carefully determine whether or not you would be making the right choice. Choosing the right law firm is more than important when you are dealing with a serious situation that greatly affects your life, so you need to have someone who will go over every single detail with you and thoroughly review all the facts in order to find the best option for solving the problem.  Remember Knowledge is Power. Know your rights and options.

The People’s Advocate is a law firm that cares about its clients and is extremely dedicated to find the best possible strategies to meet their needs. Contact us today and get a free consultation with the best bankruptcy lawyer in Fort Lauderdale and Hollywood who will provide you with highly experienced counsel and help you completely eliminate your financial stress.

You or your business can declare bankruptcy once you have ascertained that it has become impossible to pay off your creditors. It can give you a chance to start over from a financial point of view, as most debts are relieved after the bankruptcy case is settled.

Other Practice Areas:

Contact your local Bankruptcy Attorney Today!