At The Law Offices of J. Craig Bourne, we understand that financial troubles can be a stressful situation to navigate, which is why our bankruptcy lawyer in Orlando, FL, is here to help you understand your legal options, so you do not have to manage your situation alone. Our comprehensive understanding of bankruptcy protection can offer you a reliable insight to help you to make the right decision for your financial future. Below we utilize our knowledge of the different options for bankruptcy to help you choose a method that best fits your situation.
Chapter 7 Bankruptcy
For individuals who are struggling to afford payments on their credit cards or they are being sued due to late payments, many people seek a new start by filing for a Chapter 7 bankruptcy. Our bankruptcy lawyer in Orlando, FL, can help you decide if a Chapter 7 bankruptcy is the right financial choice for you. To qualify for a Chapter 7 bankruptcy, you must demonstrate the following:
- If your debt is equal to more than half of your annual income.
- It would take you at least five years or longer to pay off your debt.
- If your income is higher than the average income, but your fixed expenses, such as your mortgage, alimony, and healthcare leave you with less than $167 of disposable income a month.
- When you incurred most of your debt due to failed business ventures and investments.
Chapter 13 Bankruptcy
For individuals who earn too much income or have too many non-exempt assets to qualify for a Chapter 7 bankruptcy, our bankruptcy lawyer in Orlando, FL, may suggest you file for a Chapter 13 bankruptcy. Our firm helps many people file for Chapter 13 because it grants you 36 to 60 months to utilize your disposable income to pay off your debts that have become criminal and to help you secure loans on a vehicle and other assets.
Often, individuals will come to realize that filing for bankruptcy is not always the best option for their financial future. Our bankruptcy lawyer in Orlando, FL, will utilize our skills in debt negotiation to help you reach a settlement with your creditors.
If you have any questions regarding our bankruptcy services, contact us today at (407) 894-6750 to schedule a free consultation.