Filing for bankruptcy in Okeechobee is not a failure—it’s a fresh financial start
If your debt is becoming unmanageable and you are struggling to pay bills and make ends meet, help is one phone call away. The experienced Okeechobee bankruptcy lawyers at Hoskins, Turco, Lloyd & Lloyd can give you peace of mind and the legal guidance you need to rebuild your financial future.
Our Okeechobee bankruptcy law firm has helped thousands of people on the Treasure Coast and in Okeechobee regain control of their finances through strategic bankruptcy plans that eliminate debt, stop creditor harassment, and protect your precious assets. Take the first step and schedule a free and confidential consultation with our bankruptcy attorneys in Okeechobee.
If you are considering filing for bankruptcy in Okeechobee, you are likely feeling scared or worried about how bankruptcy will impact your life or future finances. At Hoskins, Turco, Lloyd & Lloyd, we understand your fear and anxiety, but we also know how positive and beneficial bankruptcy can be for many individuals and businesses.
For decades, our Okeechobee bankruptcy attorneys have helped numerous people within the Okeechobee community remove the burden of debt through smart, strategic, and manageable bankruptcy plans. We specialize in Chapter 7 and Chapter 13 bankruptcies and have a proven track record of negotiating the best possible debt settlement plans.
With us by your side, you can have a bright financial future.
When selecting a bankruptcy attorney, it’s essential to choose one who not only possesses expertise and experience in bankruptcy law but also demonstrates a genuine commitment to their clients’ well-being. At Hoskins, Turco, Lloyd & Lloyd, our Okeechobee bankruptcy attorneys stand out among the many options available because we prioritize personalized attention, compassionate support, and effective legal representation.
Our team understands that facing bankruptcy can be a challenging and overwhelming experience, which is why we strive to provide guidance and advocacy tailored to each client’s unique needs and circumstances. From the initial consultation to the resolution of your case, we are committed to guiding you through every step of the bankruptcy process with integrity, empathy, and professionalism.
Want to speak with an Okeechobee bankruptcy attorney for free? Call (863) 357-5800 to schedule a free, confidential consultation with an Okeechobee bankruptcy attorney.
Being in debt can bring about overwhelming worry and stress, especially when it comes to meeting basic needs like putting food on the table and providing for loved ones. The constant pressure of financial obligations can feel like a heavy weight on one’s shoulders, overshadowing daily life with uncertainty and anxiety.
If you find yourself in this situation, it’s important to know that you are not alone.
In times of overwhelming debt and financial uncertainty, filing for bankruptcy can provide a lifeline and a path toward regaining control of your financial future. While the decision to file for bankruptcy may seem daunting, it’s important to recognize the numerous benefits of bankruptcy.
For Okeechobee residents who are overwhelmed with debt, there are primarily two types of bankruptcy that you can file: Chapter 7 bankruptcy and Chapter 13 bankruptcy. It’s important to know the differences between the two to select the best option for you.
Chapter 7 bankruptcy is also known as liquidation bankruptcy. There is a means test that must be passed, meaning if you make above a certain amount of money, you cannot file Chapter 7.
Essentially, this type of bankruptcy is for those who are unable to pay their debts. It allows you to discharge your unsecured debts, such as credit cards and medical debt.
Secured debt, such as mortgages and student loans, cannot be discharged.
If you file Chapter 7 bankruptcy, most (if not all) of your property and assets will be sold to cover your debts. There are some exemptions, but your attorney can explain them to you.
Once the debts are either settled or dismissed, you can move on with your life with a clean slate. The biggest downside, aside from having to sell all of your assets, is the fact that Chapter 7 bankruptcy stays on your credit report for up to 10 years.
Chapter 13 bankruptcy allows you to reorganize your debt to more easily pay it off. However, to qualify for Chapter 13 bankruptcy, you must have a regular income that enables you to make monthly payments toward your debt repayment plan, and your secured and unsecured debts must be below specific limits.
As of 2024, the limits are $1,257,850 for secured debts and $419,275 for unsecured debts. If you qualify for Chapter 13, your debt will be restructured so that you can pay it off over 3 to 5 years.
There are certain requirements that must be met while you’re under a Chapter 13 repayment plan. First, all payments must be made either on time or early.
Late payments are not accepted. If you lose your job or otherwise find yourself unable to continue making payments, it’s up to you to negotiate with your creditors.
Other requirements may be put in place, and not following these requirements will mean your case is dismissed, and you’re again in charge of paying your debts immediately.
At Hoskins, Turco, Lloyd & Lloyd, our Okeechobee bankruptcy lawyers have helped countless individuals successfully navigate the bankruptcy process. In general, the bankruptcy process is very similar to Chapter 7 and Chapter 13 bankruptcies.
Below, we provide a high-level overview of what you can expect if you file for Chapter 7 or Chapter 13 bankruptcy in Okeechobee.
The cost of filing for bankruptcy in Okeechobee includes court filing fees and attorney fees. As of 2024, the filing fee for Chapter 7 bankruptcy is $338, and for Chapter 13 bankruptcy, it is $313. These fees are paid to the bankruptcy court at the time of filing.
In addition to court filing fees, individuals filing for bankruptcy in Okeechobee typically incur attorney fees for legal representation. Attorney fees vary depending on the complexity of the case, the attorney’s experience and expertise, and other factors.
However, at Hoskins, Turco, Lloyd & Lloyd, we offer flexible payment arrangements tailored to your financial situation. We know you are experiencing financial hardship at this time, so we customize installment plans that accommodate your budgetary constraints.
Filing for bankruptcy will significantly affect your credit score. A Chapter 7 bankruptcy can stay on your credit report for up to 10 years, and a Chapter 13 bankruptcy can remain for up to 7 years.
However, many people find they can start rebuilding their credit soon after their debts are discharged. At Hoskins, Turco, Lloyd & Lloyd, we have many clients in Okeechobee who have filed for bankruptcy and discovered that they qualify for new credit cards, loans, and even mortgages within a few years.
While you are not legally required to hire an attorney to file for bankruptcy in Okeechobee, it is highly recommended. Hiring an Okeechobee bankruptcy lawyer ensures you are protected throughout the entire bankruptcy proceeding.
Here are a few reasons why you should hire an Okeechobee bankruptcy lawyer to represent you:
Deciding to file for bankruptcy is a decision that shouldn’t be made lightly or hastily. It’s important to consider all of your different options before deciding on this path.
At Hoskins, Turco, Lloyd & Lloyd, our legal team has been assisting our local community members to navigate their financial and legal options for over 30 years. To work with an Okeechobee bankruptcy law firm about your situation, call (863) 357-5800 or contact us today for a free, no-obligation consultation.
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