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Bankruptcy

Pensacola Bankruptcy Lawyers

In Pensacola, bankruptcy attorneys provide expert legal counsel to clients who are on the brink of financial ruin.  Many consumers don’t have a true understanding of how bankruptcy actually works.  There is a ton of misinformation on the whole process out there, especially in the wake of the bankruptcy reforms that went into effect in 2005.  By consulting a reputable bankruptcy attorney, in Pensacola or the local area, you can learn everything you need to know to decide if bankruptcy is the right option for you.

Bankruptcy was created to assist consumers overwhelmed with financial burdens and unable to keep up with payments for all their debt and bills combined.  Typically, consumers consult with a Pensacola or other bankruptcy attorney and then file one of two common forms of bankruptcy:  Chapter 7, also called “liquidation” bankruptcy, or Chapter 13, also called “reorganization” bankruptcy.

Under Chapter 7 bankruptcy, debtors will have most or possibly all of their debts completely wiped out, which is referred to as the bankruptcy “discharge.”  This type of bankruptcy is often referred to as liquidation bankruptcy because the court-appointed trustee oversees the sale (liquidation) of all non-exempt assets and distributes the proceeds to creditors.  Items exempt from this liquidation typically include the family home, car, and personal belongings such as clothing and household items.  Experienced bankruptcy attorneys (in Pensacola or elsewhere) can help you figure out exactly what you’ll be able to keep should you file for Chapter 7.

Under Chapter 13 bankruptcy, however, the debtor must file a repayment plan with the court.  The debtor then makes regular monthly payments that will allow all creditors to be repaid within a three-to-five year period of time.  Those consumers who have too high of a monthly income to qualify for Chapter 7 bankruptcy will be required to file for Chapter 13 protection instead.  One benefit to filing for Chapter 13 bankruptcy is that debtors do not lose property since they’re reorganizing monthly payments to an amount they can afford, while continuing to pay down debt owed to creditors.  Additionally, you can roll in the fees you owe to your Pensacola bankruptcy attorney into the repayment plan, rather than having to pay the entire amount all at once.

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“"This is actually one of the best law firms I've had the pleasure of dealing with. They stick with you throughout the entire process, walking you through every step and they know the law! They were able to help me get out of a situation that had occurred because of a technicality and was very knowledgeable in the process. I would recommend them to anyone."”

James S.

“"Such a great service to go through when dealing with any legal matter! Mr. Cobb is very knowledgable and will take the time to understand and communicate with you in a timely manner."”

Dreeana A.

“"Everything was great and smooth working with Mr. Cobb. He was fast and efficient and answered any questions I had."”

Joshua T.

“"I would recommend Attorney Cobb to others. I would describe him as an honest and straightforward lawyer. All my concerns were addressed."”

Crystal H.

“"He was excellent, he did everything without me having to do much especially not living close. I hired him and told him everything and he did it all and it was a great experience. The legal assistant that works there was also amazing."”

Joseph S.

“"It was as clean of a process as it could have been for me. He handled everything for me because I live out of state and made it so simple and easy. He was great and thorough and I hardly had to do anything."”

William S.

“"If you can hire Stephen as your attorney then definitely do that. He talked openly and gave me assurance and even his legal assistant that works there is amazing. I never had any problems or trouble with them."”

Lonnie M.

“"I have used other lawyers in the past. I was facing years but left court with probation and a suspended sentence. Thank you and god bless you."”

Jason

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Free Initial Consultation

 
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“"This is actually one of the best law firms I've had the pleasure of dealing with. They stick with you throughout the entire process, walking you through every step and they know the law! They were able to help me get out of a situation that had occurred because of a technicality and was very knowledgeable in the process. I would recommend them to anyone."”

James S.

“"Such a great service to go through when dealing with any legal matter! Mr. Cobb is very knowledgable and will take the time to understand and communicate with you in a timely manner."”

Dreeana A.

“"Everything was great and smooth working with Mr. Cobb. He was fast and efficient and answered any questions I had."”

Joshua T.

“"I would recommend Attorney Cobb to others. I would describe him as an honest and straightforward lawyer. All my concerns were addressed."”

Crystal H.

“"He was excellent, he did everything without me having to do much especially not living close. I hired him and told him everything and he did it all and it was a great experience. The legal assistant that works there was also amazing."”

Joseph S.

“"It was as clean of a process as it could have been for me. He handled everything for me because I live out of state and made it so simple and easy. He was great and thorough and I hardly had to do anything."”

William S.

“"If you can hire Stephen as your attorney then definitely do that. He talked openly and gave me assurance and even his legal assistant that works there is amazing. I never had any problems or trouble with them."”

Lonnie M.

“"I have used other lawyers in the past. I was facing years but left court with probation and a suspended sentence. Thank you and god bless you."”

Jason

Quote Image

Free Initial Consultation