When you’re constantly late making payments to creditors, bankruptcy may be one of the best options for you. By working with a Chapter 7 lawyer Orlando FL residents get the help that they need.
It’s important to review how a bankruptcy lawyer can help you in Orlando.
Is bankruptcy the best option?
There is a lot to consider and it’s not a decision that you should make lightly. You want to look at the level of debt that you’re in and whether you’re able to make the payments that are currently laid out for you. It’s also important to look at how filing a bankruptcy is going to affect your finances moving forward.
What debts are discharged?
While filing a bankruptcy can reduce your debt, it doesn’t eliminate all of your debt. You also have to look at what you can and cannot keep. For example, you can keep your home and your car. However, you will have to say goodbye to some of your more luxurious items, such as boats, RVs, and any other toys that you may be in possession of.
Certain debts, such as student loans, may not be discharged, either. This is when it’s helpful to talk with a Chapter 7 lawyer. You can find out more about what your financial outlook will be following the bankruptcy.
What is the full process?
You need to look at what the full bankruptcy process looks like. This means finding out what it will involve and how long it is going to take. Especially if there are other things going on in your life, such as a divorce, time frames will have to be considered.
When you’re thinking of hiring a lawyer to help you file a Chapter 7, it’s also important to look at the cost. This will help you determine all that’s involved with filing a bankruptcy in Orlando.