If you are unable to pay debts, there are alternatives to bankruptcy. The best choice depends on your goals. At Klein Law Group, we can help you identify those goals and design a plan that best meets your needs.
If you have exempt assets and just want creditors to stop harassing you, then bankruptcy might not be the best option. There are many federal and state laws that protect you from abusive or harassing debt collectors, like the Fair Debt Collection Practices Act or Florida Consumer Collection Practices Act. An attorney at Klein Law Group can draft a cease and desist letter or sue debt collectors for violating these laws.
If you have little income and property, then you might be “judgment proof.” This is someone whose income and assets all fit within Florida exemptions, meaning there is nothing a creditor can legally take. Florida has many exemptions, like those on social security income, retirement accounts, income from the head-of-household, $1,000 in personal property, and homestead property, just to name a few. The attorneys at Klein Law Group are very experienced with Florida’s exemptions and defending their client’s from creditor’s claims.
If you have sufficient income, then negotiating with creditors might be your best option. Many people are not comfortable negotiating with unpleasant and unscrupulous collection agencies. Klein Law Group attorneys can negotiate with creditors to help lower your principal balance or monthly payments.
Finally, there are debt consolidation or debt settlement agencies. These companies usually request a monthly fee to pay down debt. Unfortunately, many of these companies are not attorneys and cannot give you legal advice on the legal consequences of handling debt. Often, these companies are just scams designed to collect your fees. You should talk to an attorney at Klein Law Group before signing up for their plans.
Klein Law Group has proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 20 years. Contact us today to learn more about how we can help you find a path towards financial freedom.