Port St. Lucie Bankruptcy Lawyer
Florida is one of the leading states in numbers of bankruptcies and foreclosures since the decline in the housing market in 2008. Many factors can lead to bankruptcy. A poor economy, medical emergency, unwise business decisions, slow sales, a divorce, or other changes in life circumstances can create financial problems and increased debts for businesses and households. Appearing in the recent news is a story about TOUSA, one of the largest homebuilders in South Florida. The company declared bankruptcy but there are allegations that they paid approximately 1,400 businesses within 90 days before the company filed for bankruptcy.
Those payments were considered preferential and the bankrupt company can go after the payments. This can cause incredible hardship on businesses already hit hard by the recession. For example, if a plumber was paid by TOUSA within the 90 days of bankruptcy filing, they may be ordered by the bankruptcy court to repay the money to TOUSA. This hardly seems fair. When one declares bankruptcy, it can have a rippling effect. Another's bankruptcy can cause problems for others who may find themselves in the position where they need to file their own bankruptcy petitions. If you believe you are facing financial problems and cannot repay your debts, you should seek advice from an experienced bankruptcy lawyer. Alan Fisher, PA has the knowledge and resources to help in a large variety of bankruptcy situations, from the simple to the complex. We can advise you on the options that are available to help resolve your debts including the bankruptcy process.
Bankruptcy Lawyer Helping Debtors
The bankruptcy laws are in place to help those who cannot repay their debts, but bankruptcy should be viewed at as the last resort. It is important to educate yourself about bankruptcy facts and the pros and cons. In the first meeting with us, we will review your financial records so we can establish a clear picture of your financial situation. It is vital that all information is accurate. Petitioners who file for bankruptcy must be honest about their financial statements, as they will take an oath in Federal Court during the first bankruptcy hearing. It is best to have an experienced attorney by your side from the time of filing and at each step until bankruptcy completion. Your attorney can negotiate with creditors on your behalf, protect your rights, and help you achieve a successful bankruptcy. For some, it is the best solution to resolving their financial situation. They can gain a chance to start afresh and live debt free.