If you are facing a possible bankruptcy filing, choosing an Assignment for the Benefit of Creditors (ABC) may be a better option.
If you come in to speak with me and my team regarding your case, we will help you decide if an ABC might be the best choice.
There are several differences between a bankruptcy filing and an ABC, and the better choice depends on the specifics of your situation.
As a seasoned bankruptcy lawyer in the state of Florida, I will be able to dig into your situation and provide advice on which way to proceed.
An ABC typically costs less and is completed in less time than a bankruptcy.
Most bankruptcy proceedings end up being quite expensive and drag out over a long period of time.
ABCs are often quicker and can lead to a resolution of the case long before a bankruptcy filing would have been completed.
ABCs involve hiring an assignee who will liquidate your remaining assets in order to satisfy the claims of your creditors, one by one.
However, ABCs don’t provide the full protections from foreclosure proceeding and liens that can be offered by chapter 7 or chapter 13 filings.
If you are considering filing an assignment for the benefit of creditors as a way of resolving your debt problems, contact one of our Florida offices today.
I will be happy to offer you a free consultation and help you determine which method of resolution is the best approach in your case. I look forward to serving you soon.
Call me today for a consultation.