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Ocala Bankruptcy Attorney & Bankruptcy Lawyers
Should I Consider Bankruptcy?
Are you behind on your mortgage payments or monthly bills? Are you receiving harassing phone calls from debt collectors? Are you facing repossession, wage garnishment, or foreclosure? Then filing for bankruptcy in Ocala may be an option for you.
Ocala bankruptcy has two different kinds of bankruptcy that provide different results and have different requirements. The first kind, chapter 7 bankruptcy, is the liquidation kind of bankruptcy. The second kind, chapter 13 bankruptcy, is a restructuring of your debt that creates a repayment plan for your debt. Chapter 7 and chapter 13 bankruptcy follow certain laws that differ from state to state, so if you are considering filing bankruptcy in Ocala, you should contact a local Ocala bankruptcy attorney to discuss what your options are. An experienced bankruptcy lawyer can explain all of your options to you to make sure that filing for bankruptcy is your final option.
Trying to determine whether you should file chapter 7 bankruptcy vs chapter 13 bankruptcy can be a difficult decision. Chapter 7 will eliminate all of, or most of your unsecured debt, which does not include student loans or late child support. If you are dealing with any of the following issues, than bankruptcy may be right for you:
- Receiving harassing phone calls from debt collectors
- Facing repossession, wage garnishment, or a lawsuit
- Facing foreclosure, have a 2nd mortgage, own unwanted real estate
- Loss of personal assets, retirement savings, or your home
You can also take the Means Test to determine if you qualify to file for chapter 7 or chapter 13 bankruptcy.
Your Creditors will Stop Harassing you
When a bankruptcy attorney has filed a bankruptcy petition on your behalf in bankruptcy court, by law your creditors will no longer be able to contact you in an attempt to collect debt. All of your creditors will be given notification that you are filing bankruptcy and the judge will enforce the no-contact policy.
Does Filing Bankruptcy Hurt my Credit Score?
Filing for chapter 7 or chapter 13 bankruptcy does damage your credit score, but the effect is not permanent. Bankruptcy will remain on your credit report for ten years, but many individuals see an improvement on their credit score within a few years through careful money management. You can expect to see a 150 to 200 point deduction on your credit score initially, depending on where your credit score was prior to the bankruptcy filing. It may seem like a crippling blow to your credit score, but years of not paying your bills and accruing delinquencies can have a more detrimental affect than a one time bankruptcy filing.
There are many things to consider before filing for bankruptcy and because every situation is unique it is best to consult with an Ocala bankruptcy attorney to help assess your situation and plan for the possible outcomes. Each individual may have different options available and may or may not qualify for chapter 7 or chapter 13 bankruptcy.
We Always Offer a Free Initial Consultation!
Call our offices toll free at (888) 316-2131 or fill out the form to the right and we will contact you to set up your free consultation today.
Law Offices of Justin McMurray, Esq
OCALA OFFICE:
504 S.E. 8th Street
Ocala, FL 34471
Phone: (352) 450-1367 Facsimile: (866) 796-2242
JACKSONVILLE OFFICE:
10175 Fortune Parkway,
Suite 603
Jacksonville, FL 32256
Phone: (904) 248-4482 Facsimile: (866) 796-2242
GAINESVILLE OFFICE:
2135 NW 40th Terrace, Suite C
Gainesville, FL 32605
Phone: (352) 450-1367 Facsimile: (866) 796-2242
MIAMI OFFICE*:
100 North Biscayne Boulevard, Suite 1607
Miami, FL 33132
Phone: (305) 672-7495 Facsimile: (866) 796-2242
TAMPA OFFICE:
217 N Lois Avenue
Tampa, FL 33609
Phone: (813) 421-8336 Toll Free: (888) 316-2131
Toll Free: (888) 316-2131
E-mail: Info@ocalabankruptcylawyer.com
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