Financial Needs of a Bankruptcy Client
Understanding and choosing the best solution to personal or business financial problems is not easy. The West Palm Beach Bankruptcy Attorneys at LaBovick Law Group  help individuals and business owners understand their options regarding bankruptcy. The LaBovick Law Group evaluates each client's unique financial situation to determine the most effective solution for financial wellness.

In certain circumstances, filing bankruptcy can be a good solution for someone facing financial challenges and difficulties. The West Palm Beach Florida bankruptcy attorneys at LaBovick Law Group assist clients through the legal process of filing for bankruptcy and work to determine what the best options to fit their clients' needs.

Offering Custom Solutions for Individual Situations to Bankruptcy Clients

The LaBovick Law Group is committed to providing clients with outstanding customer service from the beginning to the end of a bankruptcy proceeding. The West Palm Beach Florida Bankruptcy Attorneys evaluate each client's situation to determine whether bankruptcy is the correct choice. They personally discuss the various bankruptcy options with clients and create custom solutions for individual situations.

If you are having financial difficulties and want to discuss your options, contact the LaBovick Law Group West Palm Beach Florida Bankruptcy Attorneys at 1.888.777.3884.

The LaBovick Law Group serves clients throughout Florida from their offices in Palm beach Gardens, West Palm Beach, Boynton Beach and Boca Raton.

Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is commonly referred to as a liquidation available to those who fit within specific guidelines. This effectively discharges most unsecured debt to create a clean slate and fresh start. If you file a Chapter 7 bankruptcy, you may be able to obtain a discharge of the following debts:

    * Hospital Bills
    * Tax Liens
    * Payday Loans
    * Financially-Related Judgments
    * Credit Card Bills

The current bankruptcy laws require you to pass a means test to file Chapter 7 bankruptcy. You may be able to file Chapter 7, if your current monthly income is below the adjusted median income in Florida.

There are options for individuals with incomes above the Florida adjusted median income when you factor in living expenses such as medical insurance, retirement plan contributions and car payments. Our experienced Florida Bankruptcy Attorneys have successfully helped many individuals file Chapter 7 bankruptcy.

Assets and Chapter 7 Bankruptcy

In a Chapter 7 bankruptcy, a bankruptcy trustee can take assets for paying your debts, a method known as "liquidation". However, in Florida, there are specific types of property that are exempt from seizure.

This exempt property can include:

    * Home equity
    * Equity in your car up to $1000
    * Personal property up to $1,000

If you are being harassed by creditors, facing eviction, wage garnishment, repossession or foreclosure, you may be able to file Chapter 7 bankruptcy to put all of this on hold.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is commonly known as personal reorganization of debt. This is available top those individuals who want to keep their assets and have income. This process is about developing an effective payment plan to resolve debt. An individual may be able to qualify for Chapter 13 bankruptcy as another means of debt relief if Chapter 7 is not an option. It is important to realize that certain debts are not dischargeable by Chapter 13 bankruptcy, such as taxes, car payments and mortgage payments. However, certain assets can be kept by filing a reaffirmation agreement with the court and making payments.

Contact our office today to speak to one of our experienced bankruptcy attorneys to discuss your financial matter.

At LaBovick Law Group, our legal professionals are devoted to assisting you in working through this complicated area of law.
 
Please contact us for a free case evaluation. You can fill out the form to the left for an assessment of your personal matter.

If you prefer to discuss your matter with a Florida bankruptcy attorney, please feel free to call us at 1.888.777.3884 for your free consultation.