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Bankruptcy Attorneys

The Law Offices of Kaufman, Englett and Lynd, LLC (KEL Attorneys) is a nationally recognized Law Firm that specializes in bankruptcy and is licensed to practice in Florida.

Bankruptcy

Bankruptcy is the process by which consumers and businesses can resolve debt, stop Foreclosure, repossession, and lawsuits. Filing bankruptcy may clear debt, stop creditor harassment, and provide additional time to repay bills. Bankruptcy is broken down into two main classifications: Personal Bankruptcy and Business Bankruptcy.

Personal Bankruptcy

Also known as Consumer Bankruptcy, this pertains to individuals. Individuals may choose to file bankruptcy to resolve a hopeless financial situation, or to delay debt-collection for a period of time to allow for financial reorganization. Personal Bankruptcy generally takes one of two forms: Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Chapter 7 Bankruptcy is a way for Debtors to get a "Fresh Start" and eliminate debt.

Chapter 7 is by far the most favorable because you can enter into it and “discharge” all of your debt. That means you will not have to pay any of it back. However, there is a specific criterion that must be met in order to qualify for Chapter 7 Bankruptcy.
» Learn more about Chapter 7 Bankruptcy.

Chapter 13 Bankruptcy is often referred to as "Wage-Earners Bankruptcy." Assets are not liquidated in this case. Debt can be reduced and a repayment plan is established by the courts in order to pay off the remaining debts. If you make all scheduled payments, then the remainder of your debt will be discharged. Chapter 13 Bankruptcy is often times NOT the best option for our clients. After an in depth analysis of your specific situation, our firm will make a determination and recommendation as to which route would be best for you.
» Learn more about Chapter 13 Bankruptcy.

Stress Foreclosure Causes

Business Bankruptcy

Corporations, Limited Liability companies and Partnerships are legal entities separate from their shareholders or partners. They can file Chapter 7 Bankruptcy or Chapter 11 Bankruptcy, while proprietorships cannot. The proprietor must file bankruptcy individually, since the assets and the liabilities of the business are really just one form of assets of the proprietor. The individual owner may file Chapter 7, Chapter 11 or Chapter 13 Bankruptcy.
» Learn more about Business Bankruptcy.