When debts overwhelm a debtor’s ability to repay, it is time for professional advice about relief options. You may have tried debt consolidation, loan modifications or bankruptcy alternatives, only to discover after a while that you had wasted time and spent money on fees but had not reduced your debt by much. Meanwhile, your cash flow problems have continued unabated.
Debtors’ Rights And Creditors’ Rights — Our Law Firm Takes On Challenging Bankruptcy Cases
Farrow Law, P.A., can help individuals and companies determine eligibility for the most appropriate forms of bankruptcy: Chapter 7, Chapter 13 or Chapter 11. We represent many debtors, and sometimes represent creditors, as well. Our lawyers can address complications such as the following from the point of view of debtors’ rights and creditors’ rights:
- Car repossession questions
- Foreclosure defense, foreclosure as a solution to a problem mortgage, short sales and other home-related issues
- Wage garnishment and bank levies
- Involuntary bankruptcy filings
Quick-Acting Bankruptcy Protection: The Automatic Stay
Bankruptcy protection is a different kind of debt relief unlike unrealistic consolidation schemes. It allows a debtor to face debt head-on with protection of the courts. When a debtor files bankruptcy, the automatic stay goes into effect. This very powerful legal protect prevents creditors from harassing debtors throughout the bankruptcy case.
Long-Term Debt Relief: Debt Discharge
Once the necessary processes of a bankruptcy case are complete, a successful bankruptcy filer may experience a financial fresh start. At the end of a successful Chapter 7 bankruptcy — the quickest-acting type of bankruptcy — debts are discharged, which means they no longer exist.
The same is true at the conclusion of a Chapter 13 bankruptcy, which is accomplished through a three- to five-year repayment period. Remaining portions of debts such as back child support, most taxes and secured debts may still need to paid after that time, but balances that remain on unsecured debt such as credit card debt or medical debt will normally be discharged.
Bankruptcy myths are very common. People often believe bankruptcy is shameful and a sign of moral failure. Others fear they will be unable to obtain credit afterward. In fact, bankruptcy is often the quickest route to rebuilding credit.
In fact, there is no shame in considering bankruptcy as a viable option. Our country’s founding fathers considered bankruptcy protection important enough to include mention of it in the U.S. Constitution, which authorizes Congress to enact “uniform Laws on the subject of Bankruptcies throughout the United States.” (Article 1, Section 8, Clause 4)
Contact Us | Davie Debt Relief Law Firm
Discuss your debt relief needs with an attorney and receive a personalized evaluation. Call 954-252-9818 or send an email message to schedule a free consultation with a Davie Debt Relief Lawyer at Farrow Law, P.A., regarding bankruptcy or bankruptcy alternatives.
We are a debt relief agency located in Davie, Florida but we provide representation for all of South Florida. We help people file for bankruptcy relief under the Bankruptcy Code.