When individuals find themselves in financial trouble, the services of a bankruptcy attorney are one of the best ways to get help. There are Fort Walton Beach bankruptcy lawyers who specialize in this aspect of the law and they help normal people handle their financial problems every day. By filing a bankruptcy case and completing the process, your debt can be restructured and paid off through a streamlined process. This is often more helpful than letting financial problems linger for years and remain unresolved or get worse. 

What will happen to me after I declare bankruptcy?

The process of going through bankruptcy is not quite as bad as most people think. For example, an individual who files for Chapter 13 bankruptcy to settle personal debts will be given an opportunity to make payments to settle their debt through their regular source of income, such as their job or business. A bankruptcy filing will stay on the individual’s credit report for seven to ten years, but this is similar to most other negative items that appear in someone’s credit history. These credit consequences will remain regardless of the time frame it takes to pay off the debts and close the case.

Other negative consequences such as wage garnishments, loss of a home, and repossession of a car can be stopped by declaring bankruptcy and following through with your obligations related to your case. In this sense, bankruptcy is often a lesser of evils considering the serious legal consequences that can follow large amounts of unpaid debt. It can also be less stressful to simply follow a court order rather than deal with collection agencies and other forms of harassment. 

What does a bankruptcy attorney do?

Bankruptcy is one of the most confusing areas of the civil law. This means that lawyers who practice in this area must obtain a high degree of proficiency, and only lawyers who focus in this area should be trusted with your case. Bankruptcy is governed by federal law, and there is a separate bankruptcy court in each jurisdiction around the country that handles only these kinds of cases. For example, the Fort Walton Beach area and most of northern Florida is served by a local bankruptcy court that is located in Pensacola. A lawyer in your area should be familiar with the judges who will hear your case and what you can expect once you begin the bankruptcy process in their courtrooms.  

Each court’s local bankruptcy laws may be different from others who handle similar cases. This is why it is so important to retain an attorney who has handled numerous multiple bankruptcy cases successfully. Filing requirements are very specific, and it is not easy to try to figure this process out on your own or advocate against attorneys for companies who want their money back.     

Talk to a bankruptcy attorney in north Florida 

For more information about bankruptcy law and how a lawyer can assist you in the Fort Walton Beach area, contact ASG Legal. They assist both individuals and businesses with solving their financial problems.