8 years Ago, MarcWites
In today’s difficult economic times, many good, hard working people find themselves unable to pay all of their bills, and still provide for basic necessities, such as food, shelter and medical care. This often results from unemployment, or the inability to keep up with mortgage payments in our collapsed real estate market.
For many people, bankruptcy is an acceptable option to obtain a fresh start, by asking a federal bankruptcy court to wipe out, or eliminate, one’s debts.
Here are a few reasons why. First, you have to qualify for filing under the bankruptcy code. Second, you may have to give up certain assets to the bankruptcy trustee in order to pay some of your debts. Third, you have to live with the social stigma of bankruptcy.
While bankruptcy is an appealing and appropriate option for many, it is not for everyone. Bankruptcy might jeopardize your job, or negatively impact a small company that you own. You may have assets that you wish to keep, and that you otherwise might have to give up in bankruptcy, assuming that you qualify for bankruptcy in the first place. And, many people simply want to avoid the stigma, whether real or perceived, that goes along with a bankruptcy filing.
There are other options. Creditors realize that many consumers simply can’t afford to pay all of their debts. Faced with the reality that they will get little or nothing if the consumer files bankruptcy, many creditors are willing to make a deal, and often will settle the debt for a meaningful discount on what is owed. Sometimes an agreement to settle your debt can be reached prior to the start of litigation between you and your creditor, and sometimes a settlement may be reached during the litigation process, or after the creditor obtains a judgment on which it can’t collect. While these options almost always result in the consumer paying more to settle their debt than if they had filed bankruptcy, it is a viable option for those who conclude that bankruptcy is not the right option for them.
Alex N. Law, Jr. is a founding shareholder of Wites Law Firm The firm’s main office is in Lighthouse Point, Florida, and it has satellite offices throughout South Florida, as well as in various states. The firm’s practice areas include the representation of injured persons and their families in personal injury and wrongful death actions, investment disputes, and class actions; immigration; the representation of consumers in lawsuits and pre-litigation collection efforts brought by creditors, as well as in bankruptcy; and commercial and civil litigation.
Call Now To Talk To One Of Out
Marc: Congratulations on the School Board settlement! Glad you were about to get a good result for your clients. Having been your adversary early on in the case, I can say it was a long battle and the great result was due to your persistence and creative approach to the litigation. Well done!Josh Eggnatz
Attorneys often convey a sterile attitude toward clients that is often void of sincerity and compassion, and may even be condescending. Marc Wites has not lost his humanity!! Mr. Wites is an attorney that continues to stay abreast of the law, which results in excellent results for his clients. Marc Wites is my “go to” attorney when I am looking for A-rated service and quality representation. I consider Marc as not only my attorney but a friend as well.David
An impressive chamber of knowledgeable attorneys/staff that stand ready to work tirelessly on behalf of their clients. Marc Wites is the quintessential Perry Mason advocate–erudite, prepared, and brilliant. He is ready to take on any legal challenge. Above all, he is understanding of the working class. Surely, he’s not just in it for the money; he genuinely wants to help people. Overall outstanding law firm.Raymond Brown
Mr. Wites accepted my case when other lawyers would not. He never promised what he couldn’t deliver. He was realistic, upfront and honest. He actually returns phone calls. And he is willing to explain the legal process and to take time to answer questions. I would definitely contact Mr. Wites if I ever needed a lawyer again.Karla