Deciding If Bankruptcy Is Right For You

Is bankruptcy right for you? It's rarely an easy decision to make.

At The Law Offices of George Castrataro, P.A., we help southern Florida individuals explore whether bankruptcy could be a helpful fresh start, or whether an alternative solution would be better. Here are the three most common questions our clients ask us, and some things you may want to discuss with an attorney while making your decision.

Should I File?

Bankruptcy offers the potential for a financial fresh start in many areas of life, but it is not for everyone. You should explore all of your options for resolving your financial issues before deciding to file for bankruptcy. It is also important to understand what bankruptcy can and cannot do for you. For example, some common types of debt are difficult or impossible to discharge in bankruptcy, including student loans and child support payments.

What Type Of Bankruptcy Do I Choose?

Most people who file for personal bankruptcy chose either Chapter 7 or Chapter 13 bankruptcy. Of the two, Chapter 7 is the more common and allows you to completely discharge many types of debt. However, if your income is over a certain amount, you may not meet the eligibility requirements for Chapter 7. In this case, you may file Chapter 13 instead, in which you pay off your debts over several years.

When Should I File?

Before you can file for any type of bankruptcy, you need to participate in a credit counseling program that has been approved by the U.S. Trustee Program. You may file at any time after successfully completing the program. It is a good idea to be as prepared as possible for the progress. A bankruptcy lawyer can help make sure you know what to expect.

Get All Your Questions Answered

We are here to answer your other bankruptcy questions and decide whether you want to move forward with the process. Call us at 954-573-1444, or contact us online to schedule a free consultation with a lawyer. Our office is located in Fort Lauderdale.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.