Patrick Cordero manages a private law office in southern Florida, where his primary focus is on helping clients find their way through financial turmoil. His practice is the second-largest bankruptcy-filing firm in the state of Florida with more than 55 employees.

Most individuals worry about what will happen to their credit after filing for bankruptcy, especially as financial security in this country is based upon good credit. However, bankruptcy does not mean the end of credit. A good attorney can help bankruptcy filers prepare to achieve a more secure, healthier financial future, and most are able to obtain new credit within a year or two of filing for bankruptcy. In fact, they may have better credit than ever. Banks and credit card companies may be more apt to give credit to those without any debt because they are better able to make full and timely payments. Additionally, most individuals who go through the bankruptcy process learn valuable lessons and become better financial managers.

If you are thinking about filing for bankruptcy, you are encouraged to meet with a bankruptcy attorney to learn what steps you should take next.

Individuals who are considering filing for bankruptcy to restructure their
financial situations often want to know what differentiates Chapter 7 from
Chapter 13 bankruptcy proceedings. Considered the simplest form of bankruptcy
protection, Chapter 7 liquidates and redistributes the filer’s assets, which may
include property, in order to pay off creditors. The end result is a reduction
in, or elimination of, debt for the client, which can lead to financial peace of
mind as well as an end to collections proceedings from debt recovery agencies.
Because of the possibility of losing property, clients owning homes or land may
opt for Chapter 13 bankruptcy, which offers more protection for individuals who
own a greater amount of assets. To file for Chapter 13, clients must have a
steady monthly income and be capable of repaying a certain percentage of the
debt.

An attorney with over 21 years in the practice of law, Patrick
Cordero runs his practice out of Miami, Florida. The Law Offices of Patrick
Cordero is the largest bankruptcy filer in the state of Florida, and has helped
thousands of individuals regain their financial security.