Pros of Filing Bankruptcy
- Chapter 7
- The Case is Short… Normally 4 to 6 Months From Start to Finish.
- The Case is Relatively Inexpensive
- The Case Will Discharge of Most if Not All of Your Debts
- Can Strip Certain Loans and Liabilities From Your Homestead Such as a Second Mortgage or an Hoa Lien
- For Most Individuals, the Majority if Not All of Their Assets Are Protected
- Your Homestead is Protected
- Your Retirement Accounts Are Protected Such as 401K’s, 403B’s IRA’s, Pensions, Any Other Qualified Erisa Account
- In Most Cases Your Credit Score Will Recuperate Quickly
- You Will Be Able to Obtain Credit Cards Again Shortly After Completing the Case
- You Will Be Able to Take Out a Loan on a Car or Purchase a Home Shortly After Completing the Case.
- You Can File Joint With Your Spouse if You Have Joint Debts or Both Have Debt That You Need Taken Care Of.
- No Negotiating With Creditors…You File and for the Most Part the Debts Will Be Discharged Except in Very Unique and Limited Circumstances.
- Chapter 13
- Offers a Repayment Schedule That is Most Often Based on What You Can Afford to Pay
- Has Mechanisms to Assist You With Bringing Your Mortgages, Car Loans, or Tax Liabilities up to Date
- In Most Cases Clients Pay Little to Nothing Towards Their Credit Cards and Other Unsecured Debts While Still Keeping Their Homestead and Vehicles
- You Make One Payment to the Trustee Every Month and They Take Care of Who Gets What and How Much
- The Automatic Stay Provides You Protections From Your Creditors So They Cant File Lawsuits Against You or Attempt to Collect on Their Debts While the Bankruptcy is Pending
- We Can Stop Foreclosures and Foreclosure Sales
- In Some Cases We Can Reduce the Amounts That Are Owed on Vehicles to Something Closer to What the Vehicle is Actually Worth
The Bankruptcy Court in Orlando Has a Loan Modification Mediation Program That Has Been Very Successful and Can Yield Better Results That Attempting a Loan Modification the Conventional Way
When deciding whether to file a bankruptcy you must remember that once the bankruptcy is over you will be debt free from all debts that qualify to be discharge. You also have the peace of mind that as soon as the case is filed the automatic stay provisions that protect individuals from creditors. You will immediately be protected from:
- creditor harassment
- home foreclosure
- car repossession
- wage garnishments
- judgment liens
Anderson & Ferrin has assisted Orlando dozens of clients declaring bankruptcy. Tackling financial issues can be daunting and determining whether a bankruptcy is right for you can be confusing. Orlando bankruptcy attorneys, Michael Ferrin and Victoria Anderson have navigated these waters with dozens of individuals, families, and businesses and they can help you make the right decision. Whether you live in Orange County, Seminole County, Osceola County, or anywhere else in central Florida we can assist you. We carefully analyse each individual case and tailor plans to according to each clients needs and goals. We offer face-to-face Free Consultation to gain a better understanding of your financial problems and walk you through the bankruptcy filing procedure. We are open Monday-Friday, 8:30 a.m. to 5:30 p.m. Later hours and weekends are available by appointment and we offer payment plans
Call Us Now at 407-412-7041 for a Free Consultation to see if you should Declare Bankruptcy!