Bankruptcy Lawyer Oldsmar, FL

Though bankruptcy does have significant consequences on a person’s financial record, it can be a suitable option depending on the situation, as a bankruptcy lawyer who serves clients in Oldsmar, Florida can explain. Finding the best solution to your debt problems can be challenging and stressful, but when you turn to a reliable and trusted bankruptcy lawyer who is knowledgeable about debt relief options, you can feel comfort in knowing that you are in the right hands. Before you commit to any major financial decision such as bankruptcy, be sure to gather enough information so that you can make the best decision.

Bankruptcy Lawyer in Oldsmar, FL

It can take a sudden unexpected emergency to get into crippling debt that changes your life. When you are facing serious debt problems, a good place to start would be to speak with an experienced bankruptcy lawyer in Oldsmar, FL like one from Carolyn Secor, P.A. who you can trust to inform you about the bankruptcy process. With years of experience helping clients who have needed urgent assistance with scenarios such as overwhelming debt struggles, at risk of going through foreclosure, or other financial difficulties. Carolyn Secor, P.A. understands the needs of her clients and knows how to provide excellent legal services for them so that they can achieve their goal of financial freedom.

Is Bankruptcy Right For You?

Filing for bankruptcy is a last resort option because of the serious financial consequences it entails. In order to file, you must meet the basic legal requirements. Depending on what type of bankruptcy that you file for, this is determined through a means test and the type of debt that you have. Some other important factors to consider to see whether or not you are eligible to file for bankruptcy to achieve debt relief include:

• You have loans with high interest rate
• You have unsecured debt that can be discharged
• You want a lower mortgage payment
• You have difficulty making on-time payments
• You are facing litigation 
• You are struggling to qualify for a loan

These are just a few of the many scenarios that bankruptcy can provide relief for. To receive a personalized assessment, talk to a seasoned lawyer and find out if bankruptcy is an appropriate financial solution. 

Types of Bankruptcy 

Many debtors file for two common types of bankruptcy: Chapter 7 (liquidation) and Chapter 13 (reorganization). There are several key differences between the two. Chapter 7 is considered the fastest type of bankruptcy because it can be completed in a few months, while Chapter 13 takes several years to complete. Chapter 13 bankruptcy allows debtors to reorganize their payments, while Chapter 7 immediately discharges certain types of eligible debt. 

Explore Your Debt Relief Options

It can be hard to know whether bankruptcy is something that you can consider as a way to get rid of your debts. It is important to evaluate your financial situation to see if bankruptcy would be the most beneficial solution for you. For more information, request a consultation with an experienced bankruptcy lawyer Oldsmar, FL residents turn to.