Sep 28, 2010
Florida Bankruptcy Lawyers Can Eliminate Your Debt
If a Florida company relies on more than 50 percent of its sales to one single outside source and that source diverts its business to another company, the first company will quickly go bankrupt if they do not make immediate and drastic changes. Of course, bankruptcy occurs to individuals as well as businesses. Many times a bankruptcy case deals with more than one creditor. When a debtor files for bankruptcy, whether on their own or through one of the Florida bankruptcy attorneys, the court appoints a trustee to sell the debtor’s assets so the balance can be repaid to the creditors. This occurs under the category of Chapter 7 bankruptcy.
An individual that files Chapter 13 bankruptcy with Florida attorneys, the second most sought after route, will work out a repayment plan that both the debtors and creditors must comply with. This option is only available to individuals, not companies.
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