This page was written, edited, reviewed & approved by Emil J. Fleysher following our comprehensive editorial guidelines. Emil J. Fleysher, the Founding Partner, has 15+ years of legal experience as a bankruptcy attorney. Our last modified date shows when this page was last reviewed.
Welcome to Fleysher Law, your reliable source for bankruptcy legal services in Lake Worth. Our firm is committed to helping you navigate through the complexities of bankruptcy law. We understand that facing financial hardship can be overwhelming, and our goal is to offer the guidance and support you need. With our experienced team of lawyers, we aim to provide you with a clear path to financial recovery and peace of mind.
In Lake Worth, dealing with financial stress can feel like a solitary battle, but it doesn't have to be. Our experienced bankruptcy attorney near West Palm Beach can help you as you consider filing for bankruptcy protection. Our law firm in South Florida can provide you with a free consultation to go through your options.
Learn more about bankruptcy protection in Boca Raton and Lake Worth, FL. Then, give our Lake Worth Bankruptcy Lawyer a call to schedule your consultation.
At Fleysher Law, we specialize in helping individuals and businesses address their financial troubles through bankruptcy. Our team of bankruptcy lawyers in Lake Worth is skilled in finding the most suitable solutions for your situation. We take the time to understand your financial challenges and provide the legal assistance you need to make informed decisions.
Our services extend beyond just legal advice. We offer comprehensive support throughout the bankruptcy process, from initial consultation to final resolution. We could help you avoid wage garnishment and protect your assets during this process. Our approach is to simplify the complex bankruptcy code and procedures, ensuring you understand every step of your bankruptcy journey. We're here to help you regain control of your financial future.
Lake Worth bankruptcy law offers various options for those seeking financial relief. These laws are designed to help individuals and businesses reset their financial status. Whether it's through liquidating assets under Chapter 7 or reorganizing debt under Chapter 13, bankruptcy laws provide a way to start anew. Our lawyers at Fleysher Law are experts in applying these laws to your benefit.
When considering bankruptcy in Lake Worth, you have two main options to consider: Chapter 7 and Chapter 13. The first option is Chapter 7, known as liquidation bankruptcy. This is for those who can't afford to pay their debts. It involves selling certain assets to pay off debts. This option is usually quicker and often resolved within a few months.
Chapter 13 bankruptcy, on the other hand, is more about reorganizing your debts. It's designed for people with regular income who can pay back their debts over time. This option involves creating a repayment plan that usually lasts 3 to 5 years. It allows you to keep most of your assets while you pay off your debts.
Filing for bankruptcy in Lake Worth will initially lower your credit score. This drop is due to the record of bankruptcy on your credit report, which signals to creditors a significant financial setback. However, this impact isn’t permanent. Over time, as you rebuild your financial habits, your credit score can improve.
The journey to rebuild your credit score after bankruptcy takes commitment and time. It involves making consistent, on-time payments and careful financial management. Each positive step you take post-bankruptcy helps in gradually rebuilding your creditworthiness. Remember, disciplined financial behavior is the path to a better credit score.
The bankruptcy process is a structured legal pathway to help manage or eliminate overwhelming debts. It starts with understanding your financial situation and ends with a fresh financial start. Our team at Fleysher Law guides you through each step to ensure you understand and are prepared for each part of the process. They include:
After completing these steps, you can start afresh financially. The bankruptcy process may seem daunting, but the right guidance can lead to a more stable and manageable financial future.
Working with a bankruptcy lawyer in Lake Worth can significantly improve the outcome of your bankruptcy case. They offer expertise and guidance tailored to your specific financial situation. A knowledgeable lawyer can make the complex bankruptcy process more understandable and manageable.
Working with a bankruptcy lawyer means you have an advocate committed to your financial recovery.
In Lake Worth, debt relief and debt consolidation are viable options for those seeking an alternative to bankruptcy. In debt consolidation, you bundle your debts into one payment. This could lower interest rates while making it easier to manage your payments. This method can reduce your monthly financial burden and help you avoid the more drastic step of filing for bankruptcy. It's a practical solution for those who can still manage to make some payments but need a more structured and simplified way to tackle their debt.
Debt relief, on the other hand, may include negotiations with creditors to reduce the total amount owed or to create a more manageable repayment plan. This process often requires the assistance of a skilled attorney or a debt relief agency. While debt relief can offer a fresh start without the need for bankruptcy, it's important to approach these options with a clear understanding of their potential impact on your credit score. Reach out to us to learn more.
In bankruptcy, your assets and property can be affected differently depending on whether you file for Chapter 7 or Chapter 13. Exemptions in bankruptcy law might allow you to keep certain assets.
A few alternatives to filing for bankruptcy protection comprise debt settlement, debt consolidation, and credit counseling. These options can provide relief without the need for a formal bankruptcy declaration.
Once the bankruptcy process is finished, you should expect to have most, and in some cases, all of your eligible debts discharged, offering you a fresh financial start. You will also need to focus on rebuilding your credit and managing your finances responsibly to avoid future financial distress.
When facing financial challenges in Lake Worth, you don't have to go through them alone. Fleysher Law is here to offer experienced, compassionate legal guidance through your bankruptcy process. Our skilled team of Lake Worth bankruptcy lawyers understands the nuances of bankruptcy law and is committed to helping you navigate this challenging time. With our support, you can find a path to financial stability and peace of mind.
Choosing the right bankruptcy lawyer is crucial, and at Fleysher Law, we prioritize your financial well-being. We offer personalized attention, clear communication, and a deep commitment to achieving your best possible outcome. If you're considering bankruptcy and need expert legal assistance, contact us today. Let us help you take the first step towards reclaiming your financial freedom.
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Is it hard to get Chapter 7 bankruptcy?
To qualify for Chapter 7 bankruptcy, an individual's income is typically compared to their state's median income for similar household sizes. Those earning below this median generally meet the bankruptcy law's means test, which averages monthly income from the six months before filing.
Is it hard to get Chapter 7 bankruptcy?
In bankruptcy, individuals can usually keep essential assets like household goods, retirement funds, and limited equity in their home and vehicle. Non-essential, expensive items like boats or luxury cars might be forfeited or require payment to keep.
How long do bankruptcies last?
Chapter 7 bankruptcies usually stay on credit reports for ten years from the date they were filed. Chapter 13 bankruptcies typically remain on credit reports for seven years from the filing date.
What is the shortest bankruptcies?
Chapter 7, or "liquidation bankruptcy," is the quickest and most common bankruptcy type. Successfully completing a Chapter 7 case typically discharges most unsecured debt within months, allowing individuals to keep essential personal property.
Does bankruptcy clear lawyer fees?
Chapter 7 bankruptcy allows the discharge of unsecured debts like credit card balances and medical bills, typically including legal fees.
Is bankruptcy an expensive process?
The initial cost of filing for bankruptcy is approximately $313, varying based on the specific type of case. However, this is just one expense. Be prepared to also cover attorney fees, which can range from $1,000 to $6,000.
Which bankruptcy clears all debt without paying?
Chapter 7 bankruptcy, or liquidation, offers extensive debt relief by discharging many unsecured debts without a repayment plan. Non-exempt assets are sold to pay creditors, and remaining eligible debt is then discharged.
How does Chapter 13 work in Florida?
Chapter 13 bankruptcy, or a wage earner's plan, allows individuals with regular income to create a debt repayment plan. Debtors propose installment payments to creditors over three to five years, potentially repaying debts fully or partially.
Can you pay off a Chapter 13 early in Florida?
Full prepayment of the repayment plan is permissible, requiring creditors to receive the total outstanding balance. While this action negates the plan's necessity, it concurrently forfeits eligibility for debt discharge.
How many times can you file Chapter 13 in Florida?
Bankruptcy filing eligibility is restricted by prior filings. A two-year wait is required to file Chapter 13 after a Chapter 13 discharge. A four-year wait is required to file Chapter 7 after a Chapter 13 discharge.
Can a creditor take my car in Florida?
Lenders or judgment creditors can repossess vehicles upon loan default or legal judgment, though Florida exempts up to $1,000 in personal vehicle equity.
Can you lose your house in bankruptcy in Florida?
In Florida, declaring bankruptcy offers a significant advantage: the ability to shield your assets from creditors. Contrary to common misconceptions, filing for bankruptcy relief does not necessarily lead to property loss.
How much does a lawyer charge for Chapter 13 in Florida?
Chapter 13 bankruptcy attorney fees generally range from $3,000 to $5,000 but can differ by location. These fees are usually included and may be added to the credit reorganization payment plan in cases with such a plan.
What if I can't afford a lawyer in Florida?
Individuals facing civil legal issues who cannot afford a private lawyer may find free or low-cost assistance through local legal aid organizations for those with limited financial means.
What is the lookback period for bankruptcy in Florida?
The Bankruptcy Code typically has a two-year clawback period for fraudulent transfers, but trustees can use state law if it provides a longer period. Many states, including Florida with its adoption of the Uniform Fraudulent Transfer Act (UFTA), allow creditors to examine potentially fraudulent transfers made within the four years before bankruptcy filing.
Emil specializes in consumer bankruptcy, debt settlement, and mortgage modification, offering a holistic approach to solving mortgage and debt problems. Emil listens to clients, understands their circumstances and goals, and helps them make the right choices by presenting all options and contingencies.
He is dedicated to helping South Floridians regain their financial freedom from overwhelming debt caused by high interest credit cards, bad mortgage loans, and uninsured medical expenses.
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