When a person has debts in their record and wants to take legal help to get over, then one has to file Bankruptcy case for them in the court. Normally, Bankrupt is a state for an individual or Company to have Outstanding debts in their records as a result of low or nil income for them and it becomes difficult to them to handle the debts. On that time, Bankruptcy Petition will help them the most. Bankruptcy is a legal process of making a legal method of clear off the outstanding debts or getting a period of time to pay back the debts to the creditors. Bankruptcy will provide a solution for a Bankrupt person to handle his financial crisis by clearly some of the debts easily and able to start a new life.

[b]Types of Bankruptcy in the US[/b]

There are different types of Bankruptcy petition available to file a Bankrupt case for an individual and for a business. They are

• Chapter 7 – Simple Liquidation process for both the individual and business
• Chapter 9 – Resolve the Municipal debts
• Chapter 11 – Reorganizational Bankruptcy for Business
• Chapter 12 – Applicable only to farmers family and fisherman
• Chapter 13 – Personal and Reorganizational Bankruptcy for any individual
• Chapter 15 – Deals with international debts matters

Among the 6 Bankruptcy petitions, Chapter 7 and Chapter 13 are the most used method to file a bankruptcy. Through Bankruptcy one can get rid of some Dischargeable debts like credit cards debt, medical bill, personal loan, etc but can get clear of non- Dischargeable debts like Child support, Student loans, fines, and penalties, etc.

[b]Help of a Best Bankruptcy Attorney in Florida[/b]

Bankruptcy Attorney is the expert legal counsel who is well-known of all kinds of Bankruptcy cases and petitions and laws around it. They will provide the best legal decisions on which Bankruptcy petition will be suitable for their client’s personal financial status and file a Bankruptcy case in the Bankruptcy court in the local office. And they can assist to go through the legal processes with all necessary files, documents, proves of property, etc. The best Bankruptcy Attorney assists you with the meeting and trustee conferences. To know about a best Bankruptcy Attorney in Florida, visit https://caplanbankruptcy.com/