Bankruptcy Attorneys Explain Benefits of Chapter 7, 11, 13

Starting over and starting fresh. Eliminating all debt and worry from stressful bills. These are the first things people describe after filing a Chapter 7 bankruptcy.

Winter Park Bankruptcy attorneys Eric Lanigan and Roddy Lanigan say that frequently the most thankful clients they work with are those who file bankruptcy and feel the relief from debt.

Bankruptcy Chapter 7, Chapter 11, Chapter 13 provide individuals with an opportunity to stop and figure out life financial goals. It’s a chance to decide what’s really important and make changes to perhaps live a more simple or even a downsized lifestyle. It is likely time to assess spendig habits and change investment and savings strategies after using a legal action to stabilize the damage made by excessive debt–no matter how it was incurred.

Chapter 7 bankruptcy is a fairly drastic legal proceeding taken by a debtor to be discharged from personal debt. However, the thought of what it actually entails may include mages of auctioneers selling off all of a family’s possessions while the family sits on the porch watching memories being sold.

The Lanigans will tell you this doesn’t happen. Years ago, bankruptcy may have seemed to be a drastic measure. It may have brought up phrases like cash only payment, homelessness, flat broke, penniless.

Not today. While bankruptcy Chapter 7, Chapter 11 or Chapter 13 is still a drastic action to take, it’s very common. There is no doom and gloom of old nor is it necessarily a poor financial decision. For many people who have been divorced, who have been ill for years, had cancer, or had terrible personal tragedies befall them, there are really not many other choices.

You can pay down on debt forever, that due to high interest rates may never get whittled down, or you can decide to file bankruptcy.

Find out how long it will take, what the first steps are and the financial consequences and benefits to filing bankruptcy by contacting Eric Lanigan and Roddy Lanigan who have 35 years and four years respectively in filing bankruptcy in Orlando and Central Florida.