Your Assets And Debts In Bankruptcy
One of the biggest concerns people have about filing bankruptcy involves their personal assets. They worry that by filing bankruptcy, they will lose everything. The truth is, most of the assets people worry about are protected through bankruptcy exemptions. The only thing you end up losing is the debt that hangs over your head.
Bankruptcy Isn’t The End; It’s A Beginning
Bankruptcy is a tool that can help you get your life back on track, and you do not have to lose everything in the process. At the DiTocco Law Group, PLLC, we take pride in offering our clients real, efficient and effective solutions to debt management crises by helping them file for bankruptcy in Florida.
Contact our offices in Broward, Palm Beach, and Miami-Dade counties to learn more about your options for managing asset and debt issues related to:
- Bankruptcy exemptions that help preserve your assets
- Which debts are dischargeable through bankruptcy
- Steep medical bills that have become unmanageable
- Mortgage challenges that threaten home foreclosure
- Payday loans and the risks of predatory lenders
- Creditor actions like wage and bank account garnishments
Determining The Right Chapter Of Bankruptcy For You
Bankruptcy can be employed in different ways depending upon the nature of your assets and debts. If your income is low according to the means test, you may be able to have your debts discharged. Many people with this level of income also typically have modest assets that can be saved through exemptions.
If you do not qualify to have your debts discharged and you are concerned about keeping your home, Chapter 13 bankruptcy can help us reorganize your debts into a manageable payment plan.
In either case, be sure you consult with an experienced lawyer who can make sure things are handled properly. If you fail to report assets honestly and accurately, you could be left vulnerable to bankruptcy fraud accusations. Our team in Fort Lauderdale can guide you through the process so you can make the most informed decisions possible for handling your assets and debts in bankruptcy.
Call us at 954-566-9000 to schedule a free initial consultation with an attorney who cares about your success. Translation services are available for our Spanish-speaking clients.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.