Consumer Bankruptcy Lawyers in Sunrise, Florida

Find the right Consumer Bankruptcy attorney in Sunrise, FL

Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is normally considered as an option of last resort, because while it can stave off financial disaster, it has some considerable 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 Sunrise, Florida will have particular rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Sunrise, Florida

In Sunrise, Florida, there are 2 commonly-used types of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 states that a certain percentage of the debtor's property be liquidated to pay off at least a small part of their debt. However, many forms of property are exempt, and do not need to be liquidated, such as cars, homes, insurance policies, and retirement accounts.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is cleared. 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 Sunrise, Florida is not dischargeable, you may want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Sunrise, Florida

Chapter 13 Bankruptcy in Sunrise, Florida is very different from Chapter 7. Whether or not it is a better option is very dependent on the facts of each particular case. Chapter 13 bankruptcy does not excuse debt, it restructures it. This involves a court coming up with an altered repayment plan designed to be manageable for the debtor. This new plan sets aside the terms of the original contracts that created the debt in the first place. This creates a new payment structure, normally involving a single monthly payment, that the debtor should find manageable.

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

Chapter 13 is normally a good option for people who have a stable 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 stable income, Chapter 7 might be more beneficial.

Regardless of your situation, you should speak with an attorney in Sunrise, Florida who is accomplished in bankruptcy before making a decision. They will be able to advise you of your options, and the likely outcomes of each one, allowing you to make a much more informed decision.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Sunrise

An interesting fact about Sunrise, Florida was that in September of 2010, Google Maps was unable to locate it! People searching for Sunrise were redirected to Sarasota, Florida. Apparently this was the third time in history that Sunrise was "lost on the Internet."

Today, there are no issues in finding Sunrise. Sunrise is located in Florida's Broward County.

Sunrise is known for its festivals and events! Every year tourists come to the Earth Day Festival, the Harvest Festival and the Cultural Festival. Obviously, Sunrise is an unified, cultured community.

Some well-known corporations have offices in Sunrise. These corporations include Sawgrass Mills, Sawgrass International Corporate Park, and IKEA.

Sunrise is also home to many law firms that train attorneys to provide excellent legal services, with a personalized touch.

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