Filing for bankruptcy is often daunting, especially for those going through the process for the first time. However, depending on your circumstances, a bankruptcy filing can help you move forward with a clean financial slate. You can always hire an Ocala commercial law lawyer from our Ocala office to assist you.
Our Ocala bankruptcy lawyers help clients navigate complex legal matters, including bankruptcy. Call us today for a free and confidential bankruptcy consultation. We have over 40 years of experience with representing Central Florida.
Our Ocala Bankruptcy Lawyer Can Manage Your Entire Case, Saving You Time
Any bankruptcy case involves strategic consideration and proper filing of paperwork. Those who file must first consider which bankruptcy chapter applies to their circumstances. We can explain what you need to know and what happens when you file for bankruptcy. If you are unclear on which protection you need, we can explain the difference between Chapter 7 and Chapter 13 bankruptcy.
When an Ocala bankruptcy lawyer from our firm reviews your case, they can also discuss how to:
Put Your Ocala Bankruptcy Case Together
People filing for protection must also gather and present the appropriate financial documents and appear for any required bankruptcy meetings. Our bankruptcy attorneys can help you with every step of the process, including:
- Identifying which documents you need and either telling you where to find them or collecting them on your behalf
- Filling out the right paperwork to start your bankruptcy filing and keep it moving
- Requesting important documentation from the other parties in your case, especially your creditors
Represent You in Bankruptcy Meetings
You may be required to attend only one important bankruptcy meeting. As the U.S. Department of Justice explains, this is the meeting of creditors. Our lawyer can represent you at any required meetings or bankruptcy court proceedings. These could include:
- A Chapter 13 confirmation hearing
- A Chapter 7 reaffirmation hearing
- Negotiations with creditors
- Other hearings that apply to your case, whether filed by you, a creditor, or a trustee
Protect You from the Court or Creditors in Ocala
While you technically can file bankruptcy in Florida yourself, it can be challenging to do so. When you hire legal representation from our firm, you do not have to worry about saying the wrong thing when appearing before a trustee, creditors, or a court.
Our bankruptcy law firm can prepare you for any required appearances and speak for your interests. If anyone tries to infringe on our clients’ right to file for bankruptcy or to a smooth filing process, Bogin, Munns & Munns will step up to advocate for them.
Explain Florida Bankruptcy Laws that Could Affect Your Ocala Case
In Florida, several laws may be relevant to the bankruptcy process. This includes the Florida Homestead Exemption. According to Florida Statutes § 222.01, you can exempt your home, mobile home, or modular home from bankruptcy.
Our Florida bankruptcy attorneys can identify and explain all relevant laws so that there are no unnecessary complications in your case.
Ensure Your Bankruptcy Case Remains on Track and Meet Critical Deadlines
A bankruptcy case involves a good deal of paperwork. You must complete many forms, detail your income, and list your debts. Properly filing your paperwork can prevent unfavorable outcomes, such as delays or dismissal of your case.
Our legal representatives can ensure no avoidable errors harm your case and that you file this paperwork appropriately. Hiring our legal professionals can also ensure your case meets all deadlines.
Support You Throughout Bankruptcy Filings in Ocala
Even with professional assistance, filing for bankruptcy is not easy. It requires a great deal of time and comes with a heavy emotional and psychological burden. Let us ease that burden by:
- Answering questions about how filing bankruptcy works, how it will affect your credit score, and how your debt will be handled
- Remaining available to you throughout your case, giving you every opportunity to ask questions and seek our legal advice
- Putting our 40-plus years of legal experience to work on your situation
Knowing our bankruptcy law firm is looking out for you and keeping your case at the forefront can provide peace of mind. This is not a quick or simple process, but the sooner your bankruptcy case is completed, the sooner you can start reorganizing your finances.
Assess Your Legal and Financial Situation at No Charge
Bankruptcy relief could improve your financial status in Florida. First, however, you must understand what bankruptcy means, what the alternatives are, and what you need to do to take advantage of bankruptcy’s benefits.
Call a team member from Bogin, Munns & Munns to receive a confidential bankruptcy consultation today. Our clients receive full service from our law office. We tailor our strategy and decades of experience according to the specifics of your case.
To consult with an experienced bankruptcy lawyer serving Ocala
855-780-9986
How Filing for Bankruptcy Can Give You a New Start in Ocala, FL
Filing for bankruptcy can protect your financial future, but exactly how that occurs will depend on the situation and the filer’s status. Some advantages of bankruptcy include the following:
- Immediate relief from creditors. Filers under pressure to pay back their debts will get a break from demanding creditors. When you receive an automatic stay, debt collectors must stop calling and writing to you about unpaid bills. They also cannot take legal action against you once the bankruptcy process is underway.
- You may be able to keep assets, such as your property or home. Bankruptcy does not automatically mean losing everything you have. Our Ocala bankruptcy attorney can advise you on which filing allows you to hold on to some of your assets and which assets are protected under federal or state bankruptcy laws.
- Reorganizing your debts could change your financial future. Some of your debts could be dismissed once your bankruptcy case is resolved, while others can be reduced to ensure you can repay them. You will know more after meeting with our attorney during your free bankruptcy consultation. This meeting should give you clearer idea of your debt situation and how to resolve it.
What Bankruptcy Can and Cannot Do for Ocala Residents
Often, individuals or businesses in Ocala will be able to clear most or all of their debts by filing for bankruptcy. While some forms of debt cannot be erased, such as child support or alimony, you may be discharged from previous financial pressures, such as credit card debt. A bankruptcy filing can even stop the home foreclosure process and block creditors from contacting you for repayment.
However, filing for bankruptcy may come with some trade-offs. Your credit score will certainly be affected. Depending on the type of bankruptcy you file, the impact on your score may last for a longer or shorter period. Chapter 7 bankruptcy can remain on your credit score for 10 years, for instance.
Common Types of Bankruptcy Our Ocala Lawyer Can File for You
There are six types of bankruptcy, which are known as chapters. Two of the most common types of bankruptcy are Chapters 7 and 13. Bankruptcy typically takes one of two forms: liquidation or restructuring.
Chapter 7 Bankruptcy
Individuals who want to quickly discharge their debt commonly use this form of bankruptcy. The Chapter 7 bankruptcy process can be completed within a few months and entails selling off assets to repay creditors.
Those who would like to file for Chapter 7 must file a petition with the federal bankruptcy court and pass what is known as a “means test.” This means test is intended to ensure that you do not earn above a certain income. In your petition for bankruptcy, you must include information about your income, assets, and expenditures, and other documentation.
Chapter 7 Bankruptcy and Liquidation of Assets
With bankruptcy that entails liquidation, a trustee sells off many of your assets and distributes payment to your creditors. Chapter 7 is a common form of liquidation bankruptcy.
While liquidation may sound like you will have nothing after the process, this is untrue. State laws make provisions for assets that may be exempted from liquidation during a bankruptcy filing. In Florida, several assets are protected, including a residence and personal vehicle.
Chapter 13 Bankruptcy
Chapter 13 is intended for individuals who make a regular income. Note how this differs from Chapter 7 bankruptcy, where the person filing typically has little to no financial assets left to their name.
When you file for Chapter 13, you make a plan for repayment with a bankruptcy trustee who oversees the repayment process. Reorganizing your finances under Chapter 13 in Florida has pros and cons, but our Ocala bankruptcy lawyer can explain these to you during your consultation.
Chapter 13 Bankruptcy and Restructuring
Chapter 13 is a common type of bankruptcy that involves restructuring, or the creation of a plan to repay debts over a period of time. Typically, liquidation will not be involved.
During Chapter 13 proceedings, we can help you come up with a repayment plan. You will make regular payments to creditors over three to five years, as the United States Courts explains.
Ocala Bankruptcy Lawyer Near Me
855-780-9986
Is Filing for Bankruptcy in Ocala Necessary for You?
Possibly. Bankruptcy is generally considered to be the last resort for people struggling with overwhelming debt. Before we take any legal action on your behalf, Bogin, Munns & Munns can:
- Make sure you understand the pros, cons, benefits, and limitations of filing a bankruptcy petition
- Check to see if you have tried other means of resolving your financial problems, such as consulting with a debt relief agency—and, if not, seeing if those might be viable options for you
- Review your financial history to see what your situation is and what option might be right for you
- Give you all the information you need to make the decisions that will lead to your family’s financial freedom
You can also view our frequently asked bankruptcy questions here for more information.
Call Bogin, Munns & Munns for an Ocala Bankruptcy Case Review
A bankruptcy filing can be complicated, entailing many financial and legal considerations. You do not have to be alone in evaluating your case, filing paperwork, and appearing at meetings. An Ocala bankruptcy lawyer from our law firm can provide personalized service every step of the way.
A team member from Bogin, Munns & Munns can speak with you about how you may be able to move forward. Call today for a free case review.
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