Pahokee Chapter 13 Bankruptcy Attorney

People tend to be inherently optimistic with regard to some things, and their own financial stability is one of these areas. Individuals and businesses often spend and finance based upon projections that fail to sufficiently take into account potential setbacks. Unfortunately, every family and every company may be subject to forces beyond their control and may experience significant disruptions to even the best-laid plans. Job loss, divorce, consumer lawsuits, and many more events could turn what had been a sensible debt load into a crushing burden.

Chapter 13 of the United States Bankruptcy Code offers these parties the opportunity to restructure their repayment agreements with creditors in order to pay debts back over time. This can help you to uphold your obligations if you are struggling and it ensures that creditors and service providers are likely to receive at least some form of payment. Contact the Pahokee Chapter 13 bankruptcy attorneys of Eric N. Klein & Associates, P.A., at 561-353-2800 to learn more.

The Chapter 13 Bankruptcy Process

The first thing you will do to begin the bankruptcy process is to go through credit counseling and retain proof that you have attended. Next, you will file a bankruptcy petition with the court. In this filing, certain information will be included such as:

• Wages earned
• Property and assets
• Expenses for living
• Currently active leases

As part of your bankruptcy petition you will be able to propose a different repayment plan and the trustee assigned to your case will be responsible for gathering those funds and distributing them amongst your creditors as appropriate. For a business, this is often preferable to Chapter 7 protection because it is possible to continue with corporate operations while under Chapter 13, whereas Chapter 7 will require the closure of its doors.

Contact Us

Contact the knowledgeable Pahokee Chapter 13 bankruptcy attorneys of Eric N. Klein & Associates, P.A., at 561-353-2800 today. We are passionately committed to helping our clients to identify and pursue the best method of debt resolution for their situation. We are not here to judge your past financial missteps, but instead to help you build your financial future.