People who make a lot of money can struggle with their finances and fall into debt just as easily as anyone else. When someone begins to make a lot of money or comes into money it can be hard to manage your money and you may accrue debt that you have no way of paying back. People from all walks of life can fall into debt and struggle, and finding a debt relief option to help reduce or eliminate your debts is important. The Law Offices of John E. Mufson can help you determine if filing for high income bankruptcy is an option for you. There are certain criteria that must be met before you can file for high income bankruptcy. Our team is here to help you determine if it is a possible solution to help you eliminate your debt in Delray Beach.
How can filing for high income bankruptcy help me?
Even those who have a high income can find themselves in financial trouble. Mismanaging your money can be easy to do and the next thing you know you’re in a ton of debt. You may feel like you’ll never be able to escape the debt you’ve found yourself in, and that’s where our team can help. Chapter 11 and chapter 13 bankruptcy are two options that you may have if you have a high income but are still drowning in debt. Our team at The Law Offices of John E. Mufson can help you find if either of these options will be best suited to help you eliminate your debts.
Chapter 11 bankruptcy is designed to help those who have a high income but are also struggling with debt. There are certain limits when it comes to filing for chapter 11 bankruptcy. You may need to file for chapter 11 bankruptcy if:
- You have more than $360,475 in unsecured debt (credit card debt, medical bills, personal loans, etc.)
- You have more than $1,081,400 in secured debt (mortgages, car loans, boat loans, etc.)
John Mufson has over 25 years of experience helping those in South Florida with debt relief and bankruptcy. Our team will work with you to help you not only find a debt relief option, but find the best option based on your financial situation. Many people think if they make a lot of money they won’t be eligible to file for bankruptcy. This isn’t the case. If you’re struggling with high debt you do have options and our team can help you find the best debt relief option so you can get rid of your debts in Delray Beach. Call us today to schedule your free consultation and see what our bankruptcy attorneys can do for you.