Consumer Bankruptcy Lawyers in Plantation, Florida

Find the right Consumer Bankruptcy attorney in Plantation, 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 product of federal law, bankruptcy will go through federal courts. Accordingly, the procedure for filing for bankruptcy in Florida is basically the same as the procedure anywhere else in the United States. However, individual courts in Plantation, Florida will have individual rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Plantation, Florida

In Plantation, Florida, there are 2 commonly-used forms of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 involves liquidation of some of a debtor's assets. It requires that a certain percentage of the debtor's property to be sold to pay off as much debt as possible. The majority of property that most people own, however, is exempt. This usually includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once the eligible property is sold, and the funds transferred to the creditors, the dischargeable debt is excused. Some types of debt, however, can't be discharged in Chapter 7 Bankruptcy in Plantation, Florida. These include student loans, criminal fines, and taxes, among others. If most of your debt can't be discharged, Chapter 7 might not be the best choice for you.

Chapter 13 Bankruptcy in Plantation, Florida

Chapter 13 Bankruptcy in Plantation, Florida is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each individual case. Chapter 13 bankruptcy does not discharge debt. Instead, it restructures it. This involves the bankruptcy court coming up with a new payment plan that supersedes the terms of the agreements that gave rise to the debt in the first place. This results in a new payment plan that the debtor should find manageable, if he or she can make a few sacrifices.

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

Chapter 13 is usually a good option for people who have a steady income, and a large amount of non-exempt property that they can't part with. On the other hand, if most of the debtor's property is exempt, and he or she does not have a steady income, Chapter 7 might be more beneficial.

Of course, you should always seek the counsel of an experienced local Plantation, Florida bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your particular situation.

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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.

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