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Effective Debt Relief Solutions for Individuals and Small Businesses

Many people find themselves overwhelmed by debt, but they don’t know where to turn. The nation’s bankruptcy laws provide protection and relief from debt, offering a way for individuals and businesses to save themselves from ruin and make a new or better start. The Kaniuk Law Office can help. Attorney Ron Kaniuk has twenty years of experience on both sides of bankruptcy practice and is intimately familiar with the issues, procedures, interests and concerns for all parties involved in a bankruptcy proceeding.

Below is a brief overview of the major bankruptcy chapters, and how the Kaniuk Law Office can help. For a complimentary evaluation of your situation, call 561-292-2127 to schedule an appointment.

Chapter 7 Bankruptcy – Make a Fresh Start

Chapter 7 is sometimes called “straight” bankruptcy. This process involves making an inventory of your assets and liquidating any non-exempt assets to pay your creditors. Any remaining debts are discharged by the court, and you emerge from the proceeding debt-free or virtually debt-free, able to make a fresh start. The Kaniuk Law Office can walk you through the Florida bankruptcy exemptions and help you to keep your property from liquidation while still obtaining a discharge of your debt. If you have a high amount of unsecured debt, such as credit card debt or medical bills, and qualify for Chapter 7 eligibility, this form of bankruptcy can help you get out of debt and make a fresh start financially.

Chapter 13 Bankruptcy – Save Your Home and Get Back on Your Feet

Chapter 13 is referred to as “debt adjustment” or “wage earner’s” bankruptcy. Rather than discharging all of your debt up-front, Chapter 13 allows you to create a plan that discharges some debts and lowers others, and puts you on track to pay off your creditors over a three or five-year period, with monthly payments you can afford. In a Chapter 13, you can save your home from foreclosure and get out of default, sometimes with a lower mortgage payment or the removal of a second mortgage. If you have a steady job and do not qualify for Chapter 7 because of income levels, or if your debt is mostly secured (home mortgage, car loan, household appliance installment agreements…), then Chapter 13 may be the appropriate vehicle to give you breathing room and get you financially healthy over a period of time.

Chapter 11 Bankruptcy – Restructure Your Business for Efficiency and Profitability

Chapter 11 allows businesses to reorganize and restructure their business to make them more solvent, while also developing a plan to pay creditors over time. The company can continue to operate throughout the period of the Chapter 11 proceeding. The Kaniuk Law Office can represent you in negotiations with lenders, suppliers and other creditors to work out practical financial arrangements, while developing a plan that works for you and will be accepted by creditors and the bankruptcy court. We represent companies in both voluntary and involuntary Chapter 11 petitions.

Chapter 11 is also an option for consumers in certain situations, such as when the consumer has a lot of non-exempt or high-value assets, or has too much income to qualify for Chapter 7 or too much debt to qualify for Chapter 13. Likewise, for businesses that would benefit more from closing up shop than reorganizing, a Chapter 7 bankruptcy can provide an orderly process for winding down operations and avoiding creditor lawsuits or other liability. At the Kaniuk Law Office, we take the time to sit down with you and explore all your options, so that you can make the best decision for your particular needs.

Get Help Now from an Experienced Bankruptcy Attorney

Don’t wait until you are on the brink of insolvency or you are forced out on the street to get help. Bankruptcy protection is available to provide effective debt relief to save your home or business and help you start over fresh. With the help of a knowledgeable and experienced bankruptcy attorney, your bankruptcy proceeding can be accomplished quickly and painlessly. Call the Kaniuk Law Office at 561-292-2127.

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