Chapter 13 may be the bankruptcy solution for you
The cost of living in Florida can be high, so it is no wonder that so many people end up in debt. To make things worse, as soon as debts start to mount up, the interest rates associated with them can quickly cause the totals to mount up. Before you know it, there may be no way for you to keep on top of the required monthly payments. Suddenly your life may be turned upside down as you battle with creditors and look for a way to reduce the amount you owe.
It can be an extremely distressing and exhausting thing to go through and at times it may feel like the companies demanding money from you are unsympathetic. However, by discussing your situation with the parties you owe, there may be a way to improve your situation. Most organizations would rather receive some money than none at all, so they may be willing to negotiate a more manageable payment schedule.
One option may be to consider Chapter 13 bankruptcy. This can be particularly helpful when your debts are high as it allows you to negotiate a repayment plan that takes your individual circumstances into consideration. This means you can stabilize your finances and get on with your life without the worries that growing debt can cause.
If you are considering bankruptcy or if you are feeling overwhelmed by debt and unsure what to do, our page on debt relief may have some of the answers you need. It is easy to feel like there is no way out when your debts get out of hand, but do not lose hope. An lawyer may be able to provide the advice and support you need as you investigate the various paths out of debt and choose the one that is best suited to your needs.