Consumer Bankruptcy Lawyers in Kissimmee, Florida

Find the right Consumer Bankruptcy attorney in Kissimmee, FL

Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is usually considered as an option of last resort, because while it can stave off financial disaster, it has some significant long-term consequences warranting careful consideration of the costs and benefits. Being a creation of federal law, bankruptcy will go through federal courts. Accordingly, the process for filing for bankruptcy in Florida is essentially the same as the process anywhere else in the United States. However, particular courts in Kissimmee, Florida will have individual rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Kissimmee, Florida

In Kissimmee, Florida, there are 2 commonly-used types of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy involves liquidation of some of the debtor's assets. It requires some percentage of the debtor's property to be sold in order to pay off as much of his or her debt as possible. However, the majority of property that most people own is exempt. This usually includes homes, vehicles, insurance policies, and retirement accounts. These do not have to be sold.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is excused. However, some forms of debt cannot be discharged in bankruptcy, including student loans, taxes, child support, personal injury awards, and fines. If most of your debt in Kissimmee, Florida is not dischargeable, you may want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Kissimmee, Florida

In Kissimmee, Florida, chapter 13 is extremely different from Chapter 7, and may or may not be the best option for you, depending on your situation. Chapter 13 does not discharge debt, but restructures it instead. Usually, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is usually manageable, as long as the debtor can make some sacrifices.

Which Type of Consumer Bankruptcy Should I File in Kissimmee, Florida

The answer to this question depends strongly on your individual situation. If you have enough stable income to manage a payment plan, and a lot of non-exempt property that you are unwilling to part with, Chapter 13 may be a good option. If you don't have much stable income, and most of your property is exempt, Chapter 7 might be better.

Whatever your situation, you should speak with a local Kissimmee, Florida bankruptcy lawyer. Your attorney will be able to advise you of your options and their likely consequences, which will help you make a more educated decision.

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Life in Kissimmee

Kissimmee is in Osceola County, Florida. Specifically, it is located northwest of Lake Tohopekaliga, alongside the Kissimmee River. It is knwon as one of central Florida's most charming small cities. Approximately 60,000 people call Kissimmee home.

Some popular attractions is Kissimmee include the Colonial Estate, the Kissimmee Historic District, Monument of States, Osceola Center for the Arts, and Osceola County Historical Society Museum.

Some famous residents of Kissimme are William J. Sears, Brett Williams, Bobby Sippio, Kissy Simmons, John Quinones, Tito Paul, A.J. McLean, Brent Fullwood, Tonga Fifita, and Buddy Dyer.

Kissimmee is also filled with small law offices and firms that train excellent attorneys. These attorneys practice in all areas of law. Therefore, Kissimmee residents should remain assured that any and all of their legal needs will be met by the competent legal force of Kissimmee.

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