What are the different types of bankruptcy?

There are numbers of different chapters that people can utilize in a bankruptcy code. Chapter 7, of course, is for consumers and businesses that wish to liquidate debt. Chapter 13 is generally restricted to consumers who for one reason or another wish to retain certain property, that otherwise, they would not be able to; and allows them to make the payment plan over the period of 3 to 5 years.

There is Chapter 12, which is especially formulated for farmers and fishermen. There is Chapter 20; it’s sometime referred to where a debtor files a Chapter 7, followed by a Chapter 13.

These processes can be simplistic; or they can be very complex. Professional advice is needed for all of them.

If you would like to schedule a FREE consultation with Port St Lucie Bankruptcy Lawyer to discuss your options, please contact Jon L Martin Attorney at [nap_phone id=”LOCAL-REGULAR-NUMBER-1″] or visit our website. With over 40 years of combined legal and business experience, we have helped hundreds of people in and around Martin and St Lucie County to relieve their financial problems. Bankruptcy Lawyer in Port St Lucie Jon L. Martin helps clients throughout the following cities and surrounding areas: Hobe Sound, Jensen Beach, Palm City, Port Salerno, Port St. Lucie, Stuart, Vero Beach, and the entire Treasure Coast of Florida.