Bankruptcy

Jacksonville Bankruptcy Law Attorney

When debt gets out of hand, filing for bankruptcy may provide you with peace of mind about your financial future. At the law office of Gordon T. Nicol, we provide debt consolidation and debt relief services to individual and business clients in Florida. We handle consumer bankruptcy and family business commercial bankruptcy under the Bankruptcy Code.

Would you like to learn more about your bankruptcy options or discuss your financial situation with an experienced bankruptcy lawyer? Contact the law office of Gordon T. Nicol today to arrange a complimentary consultation. Our firm provides approachable, friendly, and efficient services to individuals facing potential bankruptcy.

Chapter 13 Bankruptcy Help

Many people who file for bankruptcy are average, hard-working people who have just undergone some kind of event that got their finances off track — such as a divorce. Chapter 13 bankruptcy provides these people with the opportunity to get back on track without the risk of losing their home or property. Under Chapter 13 of the Bankruptcy Code, debt is consolidated into a manageable 3-5 year repayment plan. However, individuals must demonstrate to the Bankruptcy Court that they have stable income and must get the repayment plan approved by the court.

Chapter 13 bankruptcy can stop foreclosure, repossessions, and other financial problems.

Chapter 7 Bankruptcy Help

Although the Bankruptcy laws have become more constricting in recent years, eligible individuals may still be eligible to file for debt relief under Chapter 7 of the Bankruptcy Code. Under Chapter 7 bankruptcy, eligible debt — credit card debt, medical bills, personal loans (unsecured loans), default interest or fees, and other expenses — can be completely eliminated. Certain debt — such as school loans or child support debt — cannot be eliminated in bankruptcy. When Chapter 7 bankruptcy proceedings are commenced, a bankruptcy trustee may liquidate some of your property to pay outstanding debt. However, there are exemptions which enable you to keep a certain amount of personal property even after a Chapter 7 bankruptcy.

Chapter 7 bankruptcy can delay foreclosure proceedings or repossessions and can stop creditor harassment, wage garnishments, stop default interest from accruing, and debt litigation.

Bankruptcy Articles

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Contact our Jacksonville, Florida, law firm for experienced advice and representation throughout the bankruptcy process.