According to the American Bankruptcy Institute, Florida saw 6,178 bankruptcy filings in January 2012. Only California had more. The overall picture in terms of bankruptcies seems to be improving, according to the American Bankruptcy Institute. Across the US, 87,946 organizations and individuals filed for bankruptcy in January 2012, representing a 14% decrease from January 2011. Bankruptcy filings also declined 9% nationwide between December 2011 and January 2012.
Despite this, many organizations and individuals in the US continue to go through the process of bankruptcy after finding themselves unable to generate enough income to meet their financial obligations. Bankruptcy can be a devastating process, but it can also be a fresh start for someone who cannot make ends meet. If there are no other financial options, bankruptcy can relieve the burden of collection efforts and can eliminate some debts, allowing someone in financial distress to start over again.
Bankruptcy is meant to be a last resort and it should never be taken lightly. Bankruptcy can mean a fresh start and it can allow an individual to save their home and other crucial assets. However, it can also negatively affect a person’s credit rating for seven to ten years. The legal process itself can also be intimidating. For this reason, it is important not to make the decision lightly. You may even wish to discuss your decision to file bankruptcy with a legal professional, so that you can get some legal advice before taking this important step.
If you have decided to file for bankruptcy, consulting with a Fort Lauderdale bankruptcy attorney can be a smart first step. A qualified attorney can review your situation, can offer advice, can help you decide which type of bankruptcy might be right for you, and can guide you through the complex legal process. Filing for bankruptcy correctly is imperative. Any mistakes you make during the filing can affect your credit score and your finances for years to come. The bankruptcy process is very challenging, so having the benefit of legal advice can be a real asset.
Contacting a qualified Fort Lauderdale bankruptcy attorney can also be important because in many cases an attorney can offer advice about any underlying issues that have caused the financial problems. For example, many Americans are forced to file for bankruptcy due to debts caused by a serious illness. If you are in financial distress due to injuries sustained in a Fort Lauderdale car accident, for example, a Fort Lauderdale personal injury attorney may be able to offer advice about any options that may allow you to avoid bankruptcy. Depending on your situation, you may be able to file a legal claim to get compensation for your injuries in order to avoid bankruptcy. Even if bankruptcy is your best option, a good attorney can advise you as to which type of bankruptcy filing is best for you and can ensure that you have support and advice throughout the entire process.
Bankruptcy can be a life-changing decision, and getting legal advice can help you get the support you need to make the right decisions in your case. Contact the Flaxman Law Group to discuss your bankruptcy needs today. The Flaxman Law Group is happy to offer a free, no obligation consultation to all new clients, so it costs you nothing to get the facts about your case.