How to File for Bankruptcy

When people have debts they can’t pay for and when there is a threat to foreclose or reposes properties, some would consider filing for bankruptcy to deal with these problems. Just what is bankruptcy? Wikipedia defines it as, “a legal status of an insolvent person or an organization, that is, one who cannot repay the debts they owe to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor.”

The Right Bankruptcy Lawyer

If you’re thinking about filing for bankruptcy, it would be best to look into getting an expert lawyer to help you out. Look into established practices such as that of Cuenant & Nazareth P.A., a law firm that specializes in bankruptcy, real estate litigation, foreclosure defense, and general civil litigation matters. Experienced Ft. Lauderdale bankruptcy lawyer Winston I. Cuenant, Esq. will be able to guide you in every step of the way. A member of the Honors Mock Trial Team of St. Thomas University School of Law and publicly recognized for his outstanding services for pro-bono work, he is now a successful member of the Florida Bar. With his knowledge and experience, you are sure to be guided accordingly. This law firm is available to clients 24 hours a day and they also offer free consultation to further help future clients. Every bankruptcy case is different so being able to consult for free will be very beneficial for you.

Types of Bankruptcy to Choose From

There are basically 2 types of bankruptcy that apply to most personal bankruptcies.  These are Chapter 7 and Chapter 13. Here is some information about them:

Chapter 7 Bankruptcy:

  • Also known as “fresh start” or “liquidation” bankruptcy.
  • Here your debts are canceled but you must pay your creditors by giving up any nonexempt properties to your trustee.
  • Here you may keep secured property as long as you are updated on payments and as long as you continue to make payments on a regular basis.

Chapter 13 Bankruptcy:

  • Also known as “reorganization” or “wage earner plan”.
  • This allows you to keep important property even though you have past due payments for them. Properties such as your home or car maybe kept if you can now pay regularly including payment towards the arrears.
  • Here you will have between 3-5 years to payback the arrears.

Your Lawyer

Your lawyer will be able to guide you to which type of bankruptcy you should file for. Winston I. Cuenant, Esq. for instance is an expert in both chapter 7 and chapter 13 bankruptcy and will be able to give you pertinent details on each type of bankruptcy to help guide you when filing. Your lawyer will also be able to help you in court if needed. This is the reason why finding the right representation is extremely important.

Filing for bankruptcy may not be the answer to everyone’s debt problems. Take advantage of free consultations and inquire about your case to better understand the pros and cons of filing for bankruptcy.

Winston I Cuenant, Esq., has been a bankruptcy and foreclosure attorney in Fort Lauderdale Mr. Cuenant areas of expertise include foreclosure defense, consumer chapter 7 and chapter 13 bankruptcy, corporate chapter 7 bankruptcy, contract formation, real estate litigation and complex commercial transactions.

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