Why is Bankruptcy Chapter 7 Becoming so Popular?
Bankruptcy in Fort Lauderdale is an increasingly popular option for those looking to regain control of their financial situation.
In the years following the country’s financial struggles, many people are still struggling to put things back together. Financial stress can come from many different situations such as job loss, medical bills and other unexpected costs. Regardless of how your debt escalated, the insurmountable debt you’re facing can seem very daunting. At DiTocco Law Group, PLLC, we think that there are many paths towards financial success, and bankruptcy is an increasingly popular option for many. In fact, there are an estimated 800,000 bankruptcy filings per year, with a large percentage of those bankruptcies occurring in the Sunshine State. As more people have simply done all they can with their debts, they’re recognizing the true freedom that can be offered by bankruptcy. With the help of a bankruptcy Chapter 7 attorney in Boca Raton form our team at DiTocco Law Group, PLLC, you may be able to experience the freedom that bankruptcy can offer. If you’re ready to leave insurmountable debt in your past, bankruptcy may be your way towards financial freedom.
At DiTocco Law Group, PLLC, we’re dedicated to helping people discover the financial freedom they deserve. We recognize the possibilities that are offered by bankruptcy; both Chapter 7 and Chapter 13 bankruptcy offer many benefits that can help turn a negative situation into a positive outcome. There are some immediate benefits to starting the bankruptcy process, regardless of which type you choose. Once you retain our legal assistance, all of the calls from creditors must be directed to your bankruptcy attorney. This can be an incredible relief for many who have been facing considerable creditor harassment.
Of course, there’s one major benefit of bankruptcy that’s the focus of all those who file: debt relief. Both Chapter 7 and Chapter 13 bankruptcy offer their own debt relief benefits. In Chapter 13 bankruptcy, debts are reduced through what’s essentially a restructuring plan. An agreement is reached with your creditors in which your debts are paid back slowly, and often in considerably lesser amounts than what is owed. Chapter 7 bankruptcy is another option, this type is known as a liquidation bankruptcy. In Chapter 7 bankruptcy, your debts are liquidated with little to no exposure to your assets. It’s this debt liquidation which makes Chapter 7 bankruptcy the popular option over Chapter 13, but Chapter 7 bankruptcy isn’t for everyone. To qualify for Chapter 7, you must qualify.
Bankruptcy is an increasingly popular option for those looking to regain control of their financial situation. If you’re ready to put an end to harassing calls from creditors and the stresses of insurmountable debt, it’s time to speak with our team at DiTocco Law Group, PLLC. You can learn more about your specific bankruptcy options by calling our firm at (561) 487-0200.
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