Bankruptcy is a legal proceeding to seek relief from debt that is specifically provided for under § 11 of the United States Code, also called the United States Bankruptcy Code. A debtor (someone who owes money) can voluntarily file a bankruptcy proceeding, or a creditor (a person who is owed money) can file an involuntary bankruptcy proceeding for a debtor under certain circumstances.
When America’s founding fathers were drafting the U.S. Constitution, they viewed bankruptcy as an essential part of our society. They made specific provisions for this exceptionally powerful tool. Article 1, Section 8, Clause 4 of the U.S. Constitution authorizes Congress to establish “uniform Laws on the subject of Bankruptcies throughout the United States.”
In certain circumstances, bankruptcy can be a great option to help put your financial worries behind you. It cancel your debts and stop calls from creditors and debt collectors, all while holding onto most, if not all, of your property. Some people have described bankruptcy as hitting the reset button on your finances, but it is most commonly called a “fresh start.”
The Bankruptcy Code is known as a “five-finger” statute. Because when you read it, almost every section contains references to numerous other provisions in the Code. There are also many federal and local rules, as well as case law decisions interpreting all of this. It is extremely complicated. And without an experienced lawyer by your side, you could lose property that you should keep and might even be permanently prohibited from discharging your current debt. You can stand a far greater chance of maximizing your ability to take advantage of every possible aspect of both debt relief and asset protection provided under all applicable laws, if you hire a qualified Florida bankruptcy attorney like the ones at the Law Offices of Evan M. Rosen. With the right legal counsel representing you, today could be the day you begin to turn the corner on your financial problems.
Our country’s history is filled with examples of people who have struggled financially but have gone on to become famously wealthy. Sam Walton (Wal-Mart), Walt Disney, P.T. Barnum, Henry Ford, H.J. Heinz, Charles Schwab, and many others all recovered from being overwhelmed by debt to become the icons we know them to be today. They all reclaimed their part of the American Dream and we want to help you reclaim yours!
If you or someone you know is considering filing for bankruptcy, call us today at (754) 400-5150 or contact us online. Let the lawyers and staff at the Law Offices of Evan M. Rosen serve you!
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