When To Consider Bankruptcy

When to Consider Bankruptcy

The main factor that signals whether or not to consider bankruptcy is insurmountable debt. No matter how people try, when they cannot get out from under debt and their situation keeps worsening, bankruptcy may be the right financial remedy.

Signs that bankruptcy may be the answer

Chapter 7 bankruptcy attorneys in JacksonvilleĀ  can help people liquidate assets and pay off debts to get a fresh start. Chapter 7 bankruptcy resolves debt rather quickly within a matter of months. Chapter 13 is another bankruptcy option that allows debtors to consolidate debts into a repayment plan where they pay the trustee a monthly amount that goes to creditors. Repayment plans last for a period of three to five years. If experiencing any of the following, consult with an attorney to discuss bankruptcy:

  • Job loss
  • Chronic illness and medical debt
  • Creditors calling or taking legal action
  • Foreclosure

A bankruptcy lawyer’s job is to help people in debt figure out the best way to deal with their financial stress. Depending on the type of debt, available income sources and the individual’s assets, the individual may find that other alternatives to bankruptcy offer a better solution. Attorneys can often negotiate loan modifications with lenders, even when debtors were unable to do so themselves. The important thing to understand is that consulting a lawyer can lead to taking effective action. Filing for bankruptcy without a lawyer can be a huge mistake. The U.S. CourtsĀ  explain that filing bankruptcy incorrectly can result in case dismissal and individuals can lose protections or their right to file another bankruptcy case.

Rely on experienced bankruptcy lawyers

At the Bankruptcy Law Firm of Lansing J. Roy, bankruptcy is all we do. We focus our entire practice on bankruptcy cases and offer affordable and effective legal help.

We serve clients throughout Northeast Florida and offer a free consultation to review your financial situation and discuss options.



From Our Clients
  • “We had great experiences with Mr. Roy. And all the folks here. Kevin and Chris and all the people were very kind and thorough in looking after our situation many years ago.”

    - Kathryn D.
  • “My wife Jane and I were experiencing a very difficult financial situation. Debts, foreclosure, repossession's to name a few. We were referred to Lansing Roy and it was one of the best decisions we ...”

    - Douglas P.
  • “Smartest man on the block!!! A wonderful firm!!! An excellent choice!!! Expand, expand, expand”

    - Brenda B.
  • “Filing for bankruptcy is, obviously, not a pleasant experience. The process, from making the decision, through the final disposition, is emotional and stressful. Our situation was complicated and took ...”

    - Kerry M.
  • “All around great to work with!! This firm is excellent!! I was referred by a family friend and I could not believe the level of service.”

    - Satisfied Client

How We're Different

  • Free In-Office Bankruptcy Workshop
  • Well-Versed in Bankruptcy Law
  • Solid Reputation in the Industry
  • Caring & Personable Service
  • Non-judgmental Approach to Each Case

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