Medical bills, credit card bills, student loans, job loss, bad investments. Many different issues can send our finances spiraling downward and out of control. If you are overwhelmed with debt and wondering about your next steps, call the experienced bankruptcy law firm – the Law Offices of John E. Mufson. We can help you seek the best debt solution in Delray Beach.
Bankruptcy May Be Your Best Debt Solution in Delray Beach
For many people, bankruptcy is the answer to their financial problems. The two most common bankruptcy programs are Chapter 7 and Chapter 13, and both have advantages and disadvantages. We can talk to you and help you decide which one is best for you. Here are the main differences between the two:
- Individuals and business can file
- Known as a liquidation form of bankruptcy
- Most of your property is sold and used to pay back your debts
- Aimed mostly at people with limited incomes who are not able to make minimal payments on their debts.
- It takes about three to five months to discharge the debt
- Individuals only (including sole proprietors) can file
- Known as a reorganization bankruptcy; no liquidation process
- Your property is not sold, and if you successfully complete a court-mandated repayment plan, you may be able to keep your property
- Typically takes about three to five years to discharge a debt
Whatever financial move you’re considering, you’re in the right place. Attorney John Mufson has more than 25 years of experience in providing bankruptcy representation and debt relief services to individuals and small-business owners in Palm Beach County. Our firm has filed more than 2,000 bankruptcy cases in South Florida.
Contact us to see if bankruptcy is the appropriate debt solution in Delray Beach for you. We’ll help you understand your rights and options. Call The Law Offices of John E. Mufson at (561) 272-1003, and make an appointment for a free consultation.