Guiding Consumers And Businesses Through The Bankruptcy Process In Lake County

Bankruptcy cases are becoming increasingly prevalent as more and more individuals and businesses struggle to survive in the current economic climate. At Michael E. Golub, P.A., we believe in providing the educational support and resources you need to understand your options and make the best decisions based on your specific circumstances. We assist consumers and corporations with all types of bankruptcy, including Chapters 7, 11, 12 and 13.

Fight For A More Financially Secure Future

Bankruptcy laws and proceedings are governed by the federal United States Bankruptcy Code. Our firm routinely accepts cases involving the four main methods of bankruptcy:

  • Chapter 7 – Chapter 7 is the most common form of consumer bankruptcy. This method requires debtors to liquidate their assets and, in return, most prior debts are discharged. The debtor is entitled to keep specified exempt property available under federal or state law. Filing a Chapter 7 petition triggers an automatic stay that stops creditors from attempting to collect any further debts from the debtor.
  • Chapter 11 – Chapter 11 bankruptcy is commonly referred to as business reorganization. This form is generally used by corporations or partnerships to create a plan for reorganization and pay creditors over time.
  • Chapter 12 – Family farmers or family fishermen with regular annual incomes are eligible to file for Chapter 12 bankruptcy. Similar to Chapter 11, financially distressed farmers may file a plan for repayment and make installment payments to creditors usually over a three- to five-year period.
  • Chapter 13Often referred to as a wage earners plan, Chapter 13 allows individuals with a stable income to retain their property and make payments to creditors over a specified period of time. There are limits on the amount of debt you may have and still be eligible for Chapter 13 assistance.

Most people mistakenly believe that bankruptcy will erase all prior debts. While filing bankruptcy can be an effective way of getting a fresh start, not all debts are dischargeable. Child support and alimony payments, in addition to some federal income taxes, are not dischargeable. In most cases, student loans cannot be discharged. It is important to seek a qualified bankruptcy lawyer to discuss your specific needs and choose the right method of bankruptcy.

End Creditor Harassment File For Bankruptcy Today

Michael E. Golub, P.A., has the legal skills and experience you need to achieve a successful resolution and move on to a more financially secure future. We serve clients throughout central Florida and offer free 30-minute consultations from our office in Tavares. Call an attorney at 352-508-6632, or contact us online to discuss your case.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.