Palm Beach Gardens Bankruptcy Attorney
The experienced Palm Beach Gardens bankruptcy attorneys at the Law Office of Kelley, Fulton & Kaplan are a legal firm that not only understand the process, but that also offer personalized, timely, caring service. For many people, bankruptcy is a frightening and intimidating procedure. The attorneys at Kelley, Fulton & Kaplan are able to demystify the process, and through their experience and knowledge, bolster the success of their clients.
The fact is bankruptcy should never be taken lightly. It is a serious undertaking that involves numerous legal issues, and although a lawyer is not required in order for someone to file, many people find that legal counsel offers them an extra advantage.
Is Bankruptcy a Choice for You?
The first thing that you have to determine is if bankruptcy is an actual choice for you? Does it make sense? Commonly a healthy debt to income ratio is 30 percent, and although this is not really a factor in determining if one should file for bankruptcy, obviously if your ratio is double that or higher, then you may certainly find yourself in financial distress.
At the Law Office of Kelley, Fulton & Kaplan, our bankruptcy attorneys in Palm Beach Gardens can help you determine, through the basic means test, if you qualify for Chapter 7 bankruptcy. With Chapter 7, you’ll find that your unsecured debt is forgiven, that you are able to keep your home and car, and that you are allowed to move on from your creditors. However, Chapter 7 is not a free ride. In order to keep your home, you’ll have to stay current on your mortgage, you’ll still need to pay any tax bills, and for your car to remain in your possession, you’ll have to make those payments.
Those who do not qualify for Chapter 7 may file under Chapter 13. With Chapter 13, you create a repayment plan that is approved and implemented by the court. The plan, which lasts from three to five years, allows for the repayment of some of your unsecured debt, while a percentage is eventually forgiven.
What Can Go Wrong
Not all petitioners are approved for bankruptcy. One of the most common reasons for people not being granted bankruptcy has to do with the facts that they make fraudulent statements by not accounting for all assets or by falsifying their debt, they illegally transfer assets to others, or they attempt to liquidate assets and hide the proceeds. All of these practices are illegal and will not only result in the denial of your petition for bankruptcy by the court, but they will also lead to felony charges being filed, including those for fraud.
We Make a Difference
The Law Office of Kelley, Fulton & Kaplan, bankruptcy attorneys in Palm Beach Gardens do make a big difference for those who willingly and purposefully work through the bankruptcy process. When petitioners act in good faith and are accurate in accounting for their debts and assets, then they usually find relief through the bankruptcy court.
Your Palm Beach Gardens Bankruptcy Attorney
The bottom line is if you are considering filing a petition, then the bankruptcy attorneys in Palm Beach Gardens office of Kelley, Fulton & Kaplan can be a major help. They are dedicated to personalized customer service, to ensuring that your bankruptcy proceeds in a timely manner, and to enabling your fiscal health. We are ready to work with you on your Chapter 7 or Chapter 13 petition. Contact Palm Beach Gardens bankruptcy attorneys at the Law Office of Kelley, Fulton & Kaplan, at 561-264-6850 today.