Florida Bankruptcy Laws

2007-09-25 14:12:16

( Legal )



In these difficult times, you may find yourself earning less than the amount needed to pay your creditors. To avoid interests piling up, you find ways to pay your creditors right away. Hence, you consult a financial adviser or a bankruptcy lawyer to put an end to this problem.

Filing for bankruptcy is a common case in all states. In Florida for example, it could be the quickest solution since your creditors must stop all payment collection efforts once your case is in court. But this should be the last among your options as there are other ways to pay your creditors.

One of these is to apply for a debt consolidation loan. It will enable you to pay off all your debts and leave you with a single loan to attend to. Another way to avoid getting the services of bankruptcy law firms is to go for a credit counseling plan. Here, you need to deposit money every month to the credit counseling service that will in turn, use the money to pay your creditors as agreed upon. Lastly, you can work out a payment plan by directly contacting your creditors. They may lower your interest or delay payments after listening to your explanation.

If all these measures don’t work out, you need to brush up on Florida bankruptcy laws to prepare your case. Florida bankruptcy laws will first require you to go through credit counseling within six months prior to filing your bankruptcy. After which, you can begin your paperworks, compiling all documents that validate your income sources, financial transactions, property, debts, living expenses, tax returns and the likes. Once you are done with this, you may consider getting a lawyer to guide you through the process. These experts on Florida bankruptcy laws will help you to speed up the procedures involved in your case and get the best terms regarding your situation.


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