In my 12 years as a certified county-court mediator in Florida, one of the most common questions I've heard defendants ask is, "Should I file for bankruptcy?" It is a good question, but one that should be directed to an experienced bankruptcy attorney, who will be able to explain the process, eligibility, costs and available options in greater detail. With so many individuals being sued because of large outstanding debts for credit cards, mortgages, car loans, etc., it is important for people to consult with expert counsel to better grasp the advantages and disadvantages of bankruptcy.
There are two forms of personal bankruptcy: Chapter 13 and Chapter 7.
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