Bankruptcy

Bankruptcy Services for Financial Issues

Dealing with financial troubles is a stressful situation and you shouldn't try to navigate it alone. When you are in over your head with financial issues, turn to someone you can trust by working with J. Craig Bourne Attorney at Law. At our law firm, our bankruptcy lawyer in Orlando, FL is here to help you understand your legal options. With our information and resources regarding bankruptcy protection, we will help you make the right choice for every situation.

The Bankruptcy Protection Information You Need

If you are considering filing for bankruptcy, it is important to speak with a bankruptcy law firm to filter what is true from what is false. Our bankruptcy attorneys’ fees are supervised and regulated by the courts, and they are available to clients for a reasonable rate.

Chapter 7 Bankruptcy

Chapter 7 is what most people picture when they think of bankruptcy. If you are no longer able to afford payments on your credit cards or you are being sued, it may be time for a fresh start. Chapter 7 bankruptcy takes about 4 months to complete, and most clients are able to achieve a credit score of more than 700 within 2 years of the case.

To qualify for Chapter 7 bankruptcy, you must demonstrate the following:

Your income is less than the median income for a household of similar size in Florida.
If your income is higher than the median income, you have fixed expenses (for items such as mortgages, alimony, child support or health care) which leave you with less than $167/month in disposable income even without paying minimum payments on unsecured debt.
Your debts are primarily related to failed business ventures or bad investments.

Under Chapter 7, a trustee is appointed to determine whether you have any assets which exceed the limits of what you are allowed to exempt (keep) under Florida law. Our bankruptcy lawyer is available to speak with you about which of your assets are exempt from creditors.

Bankruptcy Services — Lawyer Holding Bankruptcy Paper in Orlando, FL

Chapter 13 Bankruptcy

Under this “readjustment” bankruptcy, clients will receive different remedies than they do under Chapter 7. Chapter 13 allows you 36 to 60 months to use your disposable income to catch up on secured debts that have become delinquent, to pay what you can afford to your debts, and to restructure secured loans on vehicles and other assets.

At our bankruptcy law firm, we find many clients file Chapter 13 bankruptcy to restructure a high-interest car loan. If you have owned a vehicle for more than 910 days, the Court can reduce the balance of the loan to the current NADA value of the car, and reduce the high-interest rate to a more reasonable 6.25% APR.

For many clients, a Chapter 13 is a better fit. If you earn too much income to qualify for Chapter 7, or if you have too many non-exempt assets, a Chapter 13 will allow you to keep your assets as long as unsecured creditors are receiving interest-free payments that total at least $1 more than the value of the assets.

Mortgage Modification Mediation

Filing for bankruptcy does not have to ruin your life, and actually can improve it. Our bankruptcy lawyer also offers services to help those negotiate a better deal. Our local bankruptcy judges and trustees have established a highly effective Mortgage Modification Mediation Program. We are happy to work with you to determine if you qualify for this program.

Debt Settlement Services

While the thought of a fresh start may seem tempting, in some cases it is easier to reach a settlement with your creditors. Our bankruptcy lawyer has extensive experience settling debts in a variety of situations. We are available to speak with you about these debt negotiation services to find a solution you are comfortable with.

Whether you need a Chapter 13 lawyer in Orlando, FL or a Chapter 7 lawyer in Orlando, FL, we have the skills and resources available to help guide you through your legal needs. If you are interested in learning more about our other practice areas or you would like to schedule a free consultation, contact our firm today at (407) 894-6750. Craig is dedicated to providing superior service as your bankruptcy lawyer.