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800-209-1477

800-209-1477

800-209-1477

The majority of Americans are struggling with debt, and do not know which way to turn for help. Many only make the minimum payment on credit card bills, and have reached the limit on their credit cards. Some live paycheck to paycheck, and face the possibility of their home being foreclosed, or their car being repossessed. Some have to borrow money from friends or relatives to pay their bills, or to buy gas and groceries. If this describes your present financial situation, maybe it is time to think of contacting a  Jacksonville bankruptcy lawyer.

Jacksonville residents are not immune to the hard economic times that have fallen on residents of other states. Unemployment and low wages have forced many to use bankruptcy laws to clean the slate of debts they are unable to pay back. In 2010, 66,618 bankruptcies were filed in the Middle District of Florida. In fact, the United States Bankruptcy Court for the Middle District of Florida is the second busiest bankruptcy court in the nation.

Bankruptcy was put in place to give financially distressed people an opportunity for a fresh start. A Jacksonville bankruptcy lawyer can help debtors by immediately stopping wage garnishments, collection phone calls, home foreclosure, and automobile repossession. Bankruptcy can also provide relief for IRS and divorce-related debt.

A Jacksonville bankruptcy lawyer is able to assess your financial situation, to help you take control of your money crisis, and to aid you in finding the best bankruptcy options for your situation. A person can file for bankruptcy protection under Chapter 7, Chapter 11, Chapter 12, and Chapter 13 of the Federal Bankruptcy Code.

Through a Chapter 7 bankruptcy, also known as liquidation, a person is able to eliminate most their debt without having to repay their creditors. A person is typically able to keep all of their property. This type of bankruptcy may eliminate debt related to credit cards, medical bills, utilities, personal loans and collection law suits.

In a Chapter 13 bankruptcy, a person agrees to repay their creditors with a payment plan that lasts approximately three to five years. A Chapter 13 bankruptcy may allow for restructuring of lower payments, lower interest rates and reduced principal amounts. The bankruptcy court supervises the payments.

A Chapter 11 bankruptcy, often called a reorganization bankruptcy, involves repaying creditors over time, and can be used for individuals whose large debt does not qualify for Chapter 13. Chapter 11 permits a business and some individuals to repay their debt under a reorganization plan.

Due to complex bankruptcy laws, it would be beneficial for you to hire an experienced Jacksonville bankruptcy lawyer to help with filing your bankruptcy. A qualified attorney will understand your concerns, will answer all your questions and explain the process before, during and after bankruptcy proceedings. A good attorney will also empathize with your financial hardships, demonstrate that he cares, and be willing to help you in any way they possibly can.

To find an experienced Jacksonville bankruptcy lawyer, go to BankruptcyLawyer.com