Find a Bankruptcy Lawyer in Plantation, Florida

Find the right Bankruptcy attorney in Plantation, FL

In Plantation, Florida, bankruptcy is a court procedure in which a person or business has some or all of their debts excused (or "discharged"), theoretically allowing them to start with a clean slate, and move on with their lives no longer drowning in debt (and hopefully having learned to better manage their use of credit in the process). However, bankruptcy should not be treated as a way to avoid debt that one simply doesn't feel like paying. It is meant to be a safety net for people or businesses who are truly unable to pay off their debts. Because bankruptcy is not without negative consequences (such as a severely damaged credit rating for many years afterward), it should be viewed as an option of last resort.

Therefore, it is a good idea to talk with an experienced bankruptcy lawyer in Plantation, Florida. They will be able to advise you on the likely legal and financial consequences of filing for bankruptcy, and help you determine if it's the right option for your. Because this determination depends heavily on the facts of each individual case, the counsel of a Plantation bankruptcy attorney cannot be substituted.

Types of Bankruptcy in Plantation, Florida

There are three basic bankruptcy schemes that are most commonly used in Plantation: Chapters 7, 13, and 11. Bankruptcy is a creation of federal law, so the procedure for filing for bankruptcy in Plantation, Florida will be roughly the same as it would be anywhere else in the U.S. Chapter 7 bankruptcy requires the debtor to liquidate some of his or her property, and use the proceeds to pay creditors. While this doesn't sound like much of a relief at first glance, the upshot is that once the eligible property is sold, and the proceeds given to the creditors, all of the debtor's eligible debts are deemed paid in full, regardless of how much the creditors actually ended up getting. Not all of the debtor's property has to be sold off - the debtor will usually be allowed to keep things like a house, at least one car, some types of personal property, retirement accounts, and insurance policies. It should be noted that some debts are not dischargeable, and will have to be paid in full even if the debtor files for bankruptcy. This includes student loans, taxes, and criminal fines.

Under Chapter 13 bankruptcy in Plantation, most of the debtor's debt is not discharged. Instead, the bankruptcy court, working with the debtor and participating creditors, work out a payment plan that allows the debtor to pay off most of his or her debts over a longer period of time, thereby theoretically making the debt far more manageable. Once a payment plan is approved by the court, creditors are prohibited from attempting to collect payment under their original agreements that gave rise to the debt in the first place. Chapter 11 bankruptcy is almost exclusively used by businesses, but there is nothing that legally prevents it from being used by individuals, and its use by individuals is very rare. Chapter 11 bankruptcy requires the debtor to come up with a restructuring plan - telling the court how they propose to cut costs, improve their operations, and pay down their debts. The plan has to be approved by a majority vote of participating creditors.

A main advantage of Chapter 11 bankruptcy is that businesses can continue their operations while going through the process. Also, they can continue to buy and sell their stock.

How Can a Plantation Bankruptcy Lawyer Help?

The decision to file for bankruptcy in Plantation is not one to be made lightly, and it certainly should not be made without first obtaining the advice of an experienced Plantation bankruptcy attorney.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Plantation

Plantation is a South Florida city that is home to 90,000 Broward County residents. The namesake of Plantation is the owner of the Everglades Plantation Company that proliferated the motto "the grass is greener." Most people would know the Plantation City Hall and Plantation Golf Course from the movies There's Something About Mary and Caddyshack. Plantation is an ethnically diverse city and one of the most popular Fort Lauderdale suburbs. Popular among families, the city has 20 schools and many are private institutions. Just because Plantation is a suburb does not mean it's not a booming city too. Shipping giant DHL's World Headquarters, American Intercontinental University, University of Phoenix, the great Broward Mall and the Fashion Mall are all within Plantation city limits making it much more of a destination for locals and tourists.

Plantation is a standout community that plays host to a handful of lawyers. Plantation lawyers are familiar with local courts and will be able to help you figure out the best options for your legal matter. Plantation is home to a number of NFL players like Chad Ochocinco, Ty Law, Mike McKenzie, Zack Thomas, and rapper Fat Joe. With such and illustrious cast of residents you shouldn't be surprised to find out Plantation is one of the quickest growing cities in Broward County. There has also been an influx of new retail stores and accommodations for travelers who have come to visit the Everglades or Fort Lauderdale. There are also some well-rated restaurants that attract clientele from around the world.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Ian M.
Ian M.

Bankruptcy, Banking & Credit

Richboro, PA

Eddy H.
Eddy H.

Bankruptcy, Banking & Credit

San Mateo, CA

Howard B.
Howard B.

Bankruptcy, Banking & Credit

Rye Brook, NY