Consumer Bankruptcy Lawyers in Winter Garden, Florida

Find the right Consumer Bankruptcy attorney in Winter Garden, 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 Winter Garden, Florida will have individual rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Winter Garden, Florida

In Winter Garden, 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 absolved. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Winter Garden, Florida is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Winter Garden, Florida

Chapter 13 bankruptcy in Winter Garden, Florida is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your particular 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 Winter Garden, Florida

Which Bankruptcy type to file under depends heavily on the facts of each individual case. If you have a steady stream of income (enough to make a payment plan manageable), and a large amount of non-exempt property that you don't want to part with, Chapter 13 may be best for you. If you don't have a steady income or large amounts of non-exempt property, you may be better off filing for Chapter 7.

In any case, you should talk with a local Winter Garden, 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.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Winter Garden

Winter Garden is located 14 miles west of downtown Orlando--home to Disney World! It is a small suburb with about 30,000 people.

Some popular sports include the Luther F. Tilden House, West Orange Trail, Winter Garden Downtown Historic District, Winter Garden Heritage Museum, Winter Garden Historic Residential District, and Garden Theatre.

Winter Garden is a small community filled with down-to-earth people. It is also home to many small law offices where attorneys strive to provide personalized attention to all their clients.

Overall, Winter Garden residents enjoy a wonderful quality of life and are very near the happiest place in the world!

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