Pompano Beach Personal Bankruptcy Attorney
Liquidation vs. Reorganization - Which is best for me?
If you are seeking a fresh financial start, you have several bankruptcy options available to you. These many options may at first seem overwhelming. However, all bankruptcy options can be boiled down to two debt relief methods: Liquidation and Reorganization.
Each of these options has their own benefits and drawbacks. An experienced bankruptcy attorney can best help you identify the right type of bankruptcy to file to effectively discharge your debts.
Why Choose Bilu Law?
-
Decades of ProficiencyWith two decades of dedicated service, we've assisted countless clients with their legal needs, covering 67 counties in Florida.
-
Swift and AccessibleOffering seasoned legal guidance, our attorneys respond promptly and are easily accessible when you require their expertise.
-
Hablamos EspañolOur proficient team, including Spanish speakers, ensures that you fully comprehend the intricacies of your case.
-
Global Legal ExpertiseWe are proud members of an international law firm network, enabling us to provide assistance to clients nationally and worldwide.
Our Achievements
What is Liquidation Bankruptcy?
A liquidation is the sale of the debtor’s assets and the use of the proceeds of that sale to issue disbursements to the creditors that are owed money by the debtor. In certain cases, the debtor will be able to retain assets that are exempt under the law.
There are several bankruptcy chapters that utilize liquidation, the most common of which is Chapter 7. You should consult bankruptcy attorney prior to filing a liquidation bankruptcy. This type of bankruptcy can lead to the forced sale of assets as well as claims being brought by a private trustee.
The professionals at Bilu Law, P.A. are here to advise you on potential liquidation options. We can help determine your exempt assets and guide you through this process.
-
What should I do if I'm considering filing for bankruptcy protection?If you are considering filing for bankruptcy protection it is important to speak with an experienced attorney who can review your unique situation and provide legal advice so that you can move forward and find financial freedom.
-
Does filing for bankruptcy mean my business will close?Not necessarily. Depending on the chapter of bankruptcy that is filed, a business may be able to continue operations while reorganizing their debts in a payment plan.
Hear From Our Happy Clients
-
""His dedication to getting his clients the best outcome is relentless.""
"I am so honored to leave Ron and his team this great review. I called all over Florida to find a lawyer that would help me with my real estate property issue and no one would even listen to me they just told me, we can not help you. When I first called Bilu Law, I felt they cared about their clients. Johanna scheduled a meeting with Ron right away, and when I spoke to Ron, he was the best because he took the time to listen to my situation and asked all the right questions. The best question he asked was what would I consider a good outcome and after telling him, he made that his North Star. After a few more meetings to understand my situation better, he told me how much it would cost me to have him try to resolve this issue with the best outcome and it was very reasonable. Among his profession, I would consider Ron to be among the best. His dedication to getting his clients the best outcome is relentless. I will refer him to all my friends and family and consider him a dear friend."- Carlos -
""Ron Bilu and his associates were willing to fight for me when other firms all wanted to throw in the towel.""
"Ron Bilu and his associates were willing to fight for me when other firms all wanted to throw in the towel. Ron’s professionalism and dedication ended with the best outcome I could ask for. I highly recommend Ron and his firm, especially Attorney Andrea Valencia who went above and beyond for me, a true asset to the firm. Many thanks to all."- Emporio -
""I highly recommend this office to deliver and satisfactorily settle your legal matters.""
"Bilu Law firm has advised and completed the paperwork on creating a Trust and I am satisfied with how thorough and professional Andrea and Annabella were in executing the task. Today, I'd like to thank the team of Nicholas and Andrea for accepting another case and delivering as promised, in a relatively short period of time and again, a satisfactory outcome. I want to especially thank Andrea for the knowledgeable and professional representation she exhibited as she guided me through the process. In addition, I express my appreciation for other members of your staff. ALL calls were passed on and one could consistently expect a quick response. There is a warmth from the front door, by staff to the discussion of business at hand. Wait time was never more than 3-5 minutes at each office visit. The advent of Covid- 19 and the societal interruptions it created, did nothing to deter the level of service offered by this firm. I highly recommend this office to deliver and satisfactorily settle your legal matters."- Aldith -
""Choosing this law firm was the best decision I have ever made.""
"I had the pleasure of working with Ron Bilu and his assistant Andrea. Choosing this law firm was the best decision I have ever made. Both Ron and Andrea were with me every step of the way and were very kind, helpful, and knowledgeable. In the end i was very pleased with the results and would recommend his services to anyone in need of a great real estate attorney. Thankyou so much Ron!"- Doris -
""They are professional, aggressive and the keep us informed of progress of our cases.""
"Our firm has engaged Ron Bilu and Nick Rossoletti and their amazing team of effective legal professionals for a variety of litigation matters and they are professional, aggressive and the keep us informed of progress of our cases. Their experience and knowledge of the law combined with a results oriented approach has helped our bottom line."- Jeffrey -
""ABSOLUTELY AMAZINGGGGGG!!!!!!!!!""
"ABSOLUTELY AMAZINGGGGGG!!!!!!!!! Ron Bilu and Andrea Valencia helped me beyond what I expected! They listen carefully to you and will fight for you till the wheels fall off! My outcome was beyond what I had imagined and it is all thanks to them backing me up and doing what they do best! I cannot express into words how much I strongly recommend this law firm to anyone who is facing the issues I had! Like I said, absolutely amazinggggg at what they do!!!!!"- Marlin
What is Reorganization Bankruptcy?
A reorganization is a bankruptcy where the debtor proposes a plan to repay creditors. This repayment plan may offer to pay creditors a fraction of their claims against the debtor. It may also permit the extension of payments over a certain period of time to allow the debtor to better control their financial situation.
Importantly, a reorganization will avoid liquidation of the debtor’s assets to repay debts as long as the court can confirm the debtor’s proposed repayment plan. Such forms of bankruptcy can be effective for saving a home from foreclosure.
Several bankruptcy chapters use reorganization, such as Chapter 13. A bankruptcy lawyer can help you develop your repayment plan and file under the right chapter to handle your debts.
Learn more about how Bilu Law can help you by reaching out to us online or calling (954) 239-7386. We offer free initial consultations for debtors throughout South Florida.
