Bankruptcy Attorneys in Port St. Lucie Offer Financial Guidance to Individuals and Families Drowning in Debt

Florida Bankruptcy Law Firm represents clients throughout Central Florida

If you are struggling with financial challenges and cannot meet your monthly obligations, bankruptcy might be a viable option for you. Most people are familiar with the two main types of bankruptcy, Chapter 7 and Chapter 13.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy in Port St. Lucie, also known as liquidation bankruptcy, will allow you to discharge your debts and liquidate your non-exempt assets, in most cases giving you a fresh start. But before you can file for Chapter 7 bankruptcy, you must first pass a means test, which compares your monthly income for a family of your size with that of similar families in Port St. Lucie. If your income falls below the median, you will likely qualify for Chapter 7 bankruptcy, and if it is above, you may be eligible for Chapter 13 bankruptcy.

Chapter 13 Bankruptcy

Referred to as reorganization bankruptcy, Chapter 13 allows a debtor to create a repayment plan in which they can repay all or part of their debt over a three to five year period. If you have a steady income and want to save your home from foreclosure, Chapter 13 might be a good option for you since property is protected under this chapter and the focus is on reorganization of debt and completing a repayment plan.

Facing financial hardship? Don't go it alone – contact Treasure Coast Legal, bankruptcy lawyers who serve individuals and families in and around Port St. Lucie and throughout Central Florida. To explore options that can give you a financial fresh start, contact our firm online or call 772-621-2898 to schedule an appointment with one of our experienced attorneys today.