Filing Bankruptcy May Not Be The Only Way To Erase Your Debt
If you are struggling financially, you might consider bankruptcy. In most cases, filing bankruptcy may be the best way to help you clear the slate and move forward with your life. However, in some cases, bankruptcy might not be your only choice. Depending on your financial circumstances, debt settlement may also be an option.
At the DiTocco Law Group, PLLC, we understand that difficult financial situations exist for many reasons. Focused solely on debt relief, our attorneys can work with you to explore all possibilities for making an informed decision.
Ways You Could Settle Your Debt
In terms of clearing your financial slate, our lawyers will help you examine three debt settlement options that may be appropriate for your situation. They are:
- Chapter 7 bankruptcy: Otherwise known as liquidation bankruptcy, Chapter 7 is the fastest, cheapest, most effective form of debt relief there is. The only problem is that not everyone qualifies for Chapter 7 bankruptcy.
- Chapter 13 bankruptcy: Otherwise known as the wage-earner’s plan, is intended for those people who do not qualify for Chapter 7. In a Chapter 13, you pay back some of your debt over time in exchange for a discharge of the remaining debt at the end of the plan.
- Debt settlement: This process is an out-of-court procedure whereby debts are negotiated as a means by which to avoid bankruptcy. Usually debt settlement is the most expensive option.
Understanding your options is the first step to clearing your debt. Find out more during your free initial consultation at one of our convenient offices in Miami-Dade, Broward and Palm Beach counties.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.