Is Bankruptcy Right for Me?

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bankruptcy

This past year has been financially hard on almost everyone.  With the rise of COVID, businesses have closed both temporarily and permanently, and businesses that remained open saw a drop in sales.  Consequently, people were laid off or lost their jobs.  This was one of the few times that Walt Disney World has ever shut down.  Disney is the largest single employer in central Florida, employing over 75,000 people.  Florida gets much of its revenue from visitors to the Sunshine State, and the pandemic hit all businesses hard.

As a result, Florida residents lost most, if not all, of their sources of income.  Loss of income means the inability to pay bills.  Skipping a payment means rising debt.  When people miss one month’s credit card payment, that leads to late fees and additional interest.  It becomes a cycle that seems impossible to break.  However, there is an answer to overwhelming debt. That answer is bankruptcy.  This article will explain how bankruptcy can help you. 

After the financial struggles, people have gone through this past year, and are still going through, bankruptcy can be a light at the end of the tunnel for a great number of people.  This article will discuss how bankruptcy can help people who are struggling with too much debt. 

If, after reading this article, you have additional questions about your own situation, then we welcome you to contact bankruptcy lawyers in Stuart, FL at Crary Buchanan.  At Crary Buchanan, we are proud of our standard of excellence, which has allowed us to thrive as one of the oldest law firms on Florida’s Treasure Coast.  

Our bankruptcy attorneys in Stuart, FL are passionate about giving you the highest quality representation.  Call us today at 772-287-2600, or schedule a free estate consult online with our online contact form.

1. How Can Bankruptcy Help Me?

Bankruptcy helps you by allowing you to get out of debt, or to set up a payment plan for debt.  It depends on the type of bankruptcy you choose to file.  Bankruptcy does not mean you will have to give up your house, or your car, or that you will lose everything.  It is generally possible to keep your house with its mortgage, and your car with its loan, and get rid of your credit card and other types of debt. 

When people choose to file for bankruptcy, it is not meant as a punishment, but instead as a fresh start.  And we are all definitely ripe for a fresh start right now.  Bankruptcy is not something to be embarrassed about and carries no stigma.  If you have questions about how bankruptcy can help you, contact the bankruptcy attorneys in Stuart, FL.

2. What are the Different Types of Bankruptcy?

Bankruptcy is governed by Federal law.  It was established this way to make it more streamlined because so many people are mobile, and transactions can move across state lines.  Florida law governs portions of how bankruptcies are filed, but the types of bankruptcy are the same across the United States.  

The two types of bankruptcy that individuals generally file are Chapter 7 and Chapter 13.  People who file Chapter 7 are able to get rid of debt like credit cards and medical bills completely.  In Chapter 13, people pay one monthly payment to the court which is divided among their creditors.

There are laws that govern how many assets you are allowed to have to file for a specific type of bankruptcy.  There are also some debts that cannot be erased like student loans and taxes.  The Bankruptcy Code is lengthy and there are nuances that will impact each person differently.  Call bankruptcy attorneys in Stuart, FL, so we can discuss your specific situation.

File for Bankruptcy with the Help of Bankruptcy Attorneys in Stuart, FL.

At Crary Buchanan, we are committed to providing clients with exceptional service in every aspect of bankruptcy law.  You can depend upon our 85 years of experience in the Florida legal industry.  We can help you decide what is best for you and assist you throughout the entire process.

Our legal team is passionate about maintaining the high standards of professionalism and legal service that were established and practiced by founding attorneys Evans Crary Sr. and Evans Crary Jr.  Evans Crary Sr. began his law practice in Stuart in 1927 at a time when Martin County was only two years old.  He became a municipal judge at the age of 25 and served as County Attorney for 23 years. 

During his time as County Attorney, he was elected to represent Martin County in the Florida Legislature.  In 1945 he was elected to the Florida House of Representatives. He served in the House for nine years and even served as Speaker of the House before he went on to become a member of the Florida Senate.  Today, the Crary Buchanan law firm continues to practice the example of integrity, professionalism, energy, and devotion that was clearly illustrated in the lives of both Evans Crary Sr. and Evans Crary Jr.

Our clients are more than case numbers; they are people. We recognize that you are an individual with unique needs and expectations.  Our team is here to meet your need and exceed your expectations.  When you work with us, you can have confidence that a caring legal advocate is on your side.

If you have more questions or want a dedicated premises liability and personal injury attorney in Stuart to help you, call 772-287-2600 or schedule a free consult online with our online contact form.  You can always depend on Crary Buchanan for community, experience, and trust.  Call today.  

The information in this blog post is provided for informational purposes only and is not intended to be legal advice.  You should not make a decision whether or not to contact an attorney based upon the information in this blog post.  No attorney-client relationship is formed nor should any such relationship be implied.  If you require legal advice, please consult with an attorney licensed to practice in your jurisdiction.