Is There An Alternative for Bankruptcy Law?

Corporate entities or people who are no longer competent of paying off their debts to their creditors are commonly considered as bankrupt. Under the bankruptcy law Fort Lauderdale, a person or a company that has lost the financial ability to deal with financial obligations in favour of the creditors have the choice of declaring bankruptcy. With this law, individuals or businesses that are under financial distress can look for avenues in which they are given the opportunity and are enabled to pay their debts under settlements that permit for extended time and without so many complications.

While the law provides bankruptcy declaration as a legal action to protect the interests of a financially distressed business or person, this does not necessarily mean that a debtor is completely discharged from the debt in question or the financial obligation. From a creditor’s point of view, on the other hand, a debtor’s bankruptcy declaration may mean a bitter pill to swallow. The debt settlements may normally mean the money which a creditor has shelled out favouring a debtor will not simply be recovered and it is even probable that the original amount will be reduced.

Debt restructuring is an alternative to bankruptcy law. This is the option that individuals and corporate entities have at their disposal. The benefit of debt restructuring as against bankruptcy is that it is more affordable, with the main cost covering the effort and tine spent in negotiating with creditors, bankers, vendors and tax authorities. This is a process by which a financially troubled business or person can gain recovery and creditors can re-gain their money or investments. For all-inclusive legal assistance regarding the bankruptcy law Fort Lauderdale, get in touch with Winston I. Cuenant.

Winston I. Cuenant, Esq., is a highly talented French speaking attorney Miami who can extend his helping hands to guide towards a successful legal battle. He can handle case in real estate, civil litigation, filing for bankruptcy and more.

Please Contact Our Office +19547664271 for FREE Consultation or email at contact@cuenantlaw.com.