If you are suffering financially, now is the time to explore your options for debt relief. Many people like you are experiencing overwhelming debt from:

  • A job loss
  • Large medical bills
  • A divorce that left you in debt
  • Increasing mortgage interest rates
  • Credit card debt
  • Other serious circumstances

If you are being harassed by creditors or are facing wage garnishment, repossession or home foreclosure, you should explore whether personal bankruptcy is the right debt relief option for you.

I am attorney Perry M. Nardi, an Orlando, Florida bankruptcy attorney who can help people understand their options for getting out of debt. Contact me to schedule a free initial consultation about bankruptcy.

Understanding Bankruptcy and Planning Ahead

Bankruptcy might seem like your worst-case scenario, but that does not mean you should wait until the last minute to learn about it. Consumer bankruptcy is a complicated process, but planning ahead with the help of a knowledgeable lawyer can make it easier and more advantageous if you end up having to file.

There are two different types of personal bankruptcy under federal law: Chapter 7 and Chapter 13. Even under the new bankruptcy laws of 2005, most people are eligible for either one, but there are advantages and disadvantages for each one:

  • If you are eligible for Chapter 7 bankruptcy, it allows you to completely get rid of most types of debts, though it may also require you to sell off some assets.
  • Chapter 13 bankruptcy gives you a period of three to five years to pay off your debts under a court-approved plan that takes into account what you can afford. If you pay all of the installments of your plan, the court considers all of your qualified debt paid off.

Knowing whether you qualify for Chapter 13 or Chapter 7 bankruptcy and understanding the advantages and disadvantages of each chapter are important parts of planning ahead responsibly.

Contact me now for a free consultation to discuss all of your options and get the information you need to plan for the best possible outcome.

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