Consumer Bankruptcy Lawyers in Weston, Florida

Find the right Consumer Bankruptcy attorney in Weston, FL

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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 Weston, Florida will have individual rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Weston, Florida

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

Once the non-exempt property is sold, the rest of the dischargeable debt is eliminated. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Weston, Florida is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Weston, Florida

Chapter 13 Bankruptcy in Weston, 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 eliminate debt, it restructures it. This involves a court coming up with a new repayment plan designed to be manageable for the debtor. This new plan sets aside the terms of the original agreements that created the debt in the first place. This creates a new payment structure, usually involving a single monthly payment, that the debtor should find manageable.

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

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

In any case, you should talk with a local Weston, Florida bankruptcy Attorney. Your Attorney can advise you of your options and inform you of their likely consequences. This will make it much easier for your to make an informed choice.

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Life in Weston

Weston is one of South Florida's suburbs. It is home to about 66,000 people. Interestingly, in 2010, Money Magazine ranked Weston the 19th "Biggest Earners" city in America due to the median family income being about ,000.

With such a high median income, Weston is seen as an area with large job growth. It also is known as a very affordable area with a well planned community. Along with being home to businesses of all sizes, Weston is also home to many law firms. Weston residents can be rest assured that any and every legal inquiry of theirs can be handled by Weston's legal force.

Some popular Weston residents include Jason Taylor, Manny Ramirez, Joey Porter, Dan Marino, Al Leiter, Eddie Jones, Brandon Jackson, Dudley Hart, and Will Allen.

Many Florida residents aspire to be a part of the Weston community!