Fresh Start for a Promising Financial Future
Bankruptcy can Immediately Stop a Foreclosure, Wage Garnishment, Vehicle Reposession and Creditor Phone Calls
Contact us for a No-Obligation Free Consultation (904) 272-8401
Serving Clients in the Following Northeast Florida Counties: (Duval, Clay, Bradford, St. John's, Nassau, Putnam, Baker)
Bankruptcy can have many significant advantages for certain individuals and families, including:
• Preventing a home from being lost in foreclosure
• Stopping a potential wage garnishment or vehicle repossession action
• Ending harassing phone calls from over-zealous debt collection agencies
• Providing a fresh financial start relieving one from overwhelming credit card debt.
Consumer Bankruptcy Description
There are two most common types of consumer bankruptcy cases, a case filed under Chapter 7 or Chapter 13 of the Bankrutpcy Code. A Chapter 7 case is simply a liquidation of the debtor's non-exempt assets by the Bankruptcy Trustee, and the subsequent use of the liquidation proceeds to pay the debtor's unsecured creditors. In most cases, debtor's do not actually lose any of their property in a Chapter 7 case because there are many available exemptions the debtor may utilize to protect most, if not all, of the debtor's property.
Is Chapter 7 right for my particular situation? If you are earning less money than you need to pay your monthly expenses, are being threatened with wage garnishment or home foreclosure, or are making minimum payments on substantial credit card debt, filing a Chapter 7 case may provide a significant benefit and enable you to get a fresh start on your finances.
A Chapter 13 case, also known as a "wage earner's" plan, allows a debtor to keep all of their property, regardless of available exemptions, and provides for the debtor to pay their creditor's through a payment plan or a three or five year period. In cases where the debtor does not possess a lot of non-exempt property, the debtor's unsecured creditors will only receive a portion of their claims, if anything at all. At the successful conclusion of the Chapter 13 plan, the debtor receives a discharge of the debts included in the bankruptcy.
We believe it is important to relieve our client's from their financial burden, not add to it. This is why we offer a no-obligation, free initial consultation to determine whether bankruptcy is appropriate for your particular financial situation.
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