As a self-employed contractor in Florida, Jason (not his real name) had always prided
himself on the flexibility and independence his job provided. Whether working as a
handyman, a plumber, or in another specialized trade, the ability to set his own hours
and be his own boss was a dream come true. However, as the economy shifted, Jason
found himself facing more financial challenges than ever before. Client payments
became inconsistent, jobs were fewer, and he was struggling to stay on top of his debts.
Eventually, it became clear that bankruptcy was the only option left to relieve the
mounting pressure.
But as a contractor with a fluctuating income, Jason wasn’t sure how bankruptcy would
work for him. Would he lose his tools and equipment? Would he still be able to work?
And most importantly, could he rebuild his financial future after bankruptcy?
This is where Dellutri Law Group stepped in to provide Jason with the expertise and
support he needed. The team at Dellutri Law Group has a proven track record of
helping individuals like Jason navigate the complexities of bankruptcy law in Florida,
especially those who are self-employed and facing unique financial circumstances.
Here’s how Dellutri Law Group helped Jason, and how they can help you too.
Understanding Bankruptcy for Contractors
As a contractor, Jason’s financial situation was different from that of a traditional
employee. His income wasn’t steady, and much of it came from client payments that
sometimes arrived late or were smaller than expected. On top of that, Jason had
business-related debts, including equipment loans and unpaid bills for materials. While
his personal debts, like credit card bills, were significant, he also had to consider how
his business debts would impact the bankruptcy process.
In Florida, contractors like Jason have several bankruptcy options available, with the
most common being Chapter 7 and Chapter 13. However, understanding which one
would be the best fit for his specific situation was crucial.
Chapter 7 Bankruptcy: A Fresh Start
Jason’s first option was Chapter 7 bankruptcy, often referred to as a liquidation
bankruptcy. Under this chapter, non-exempt assets are sold to pay off creditors.
However, Florida’s generous exemption laws were a huge benefit for Jason. The
state offers a homestead exemption, meaning Jason could protect his primary
residence from creditors, even in bankruptcy.
The team at Dellutri Law Group walked Jason through the Chapter 7 process,
explaining that while some of his debts, such as credit cards and medical bills, could be
discharged, certain business-related debts might still need to be addressed. They
worked with him to ensure that his personal and business debts were properly
categorized and that he would be able to continue working after his bankruptcy was
discharged.
Chapter 13 Bankruptcy: A Repayment Plan for Contractors
In Jason’s case, it turned out that Chapter 13 bankruptcy, which involves a repayment
plan over 3 to 5 years, could also be an option. Since Jason’s income fluctuated,
Chapter 13 would allow him to work with a bankruptcy trustee to develop a repayment
plan that fit his ability to pay. Instead of liquidating assets, Jason would have a chance
to keep his property and tools, while paying back a portion of his debts.
Dellutri Law Group helped Jason understand how the bankruptcy court would take his
fluctuating income into account. They also advised him on how to structure his
repayment plan so that he could continue his contracting work without interruption. With
the support of the Dellutri team, Jason felt confident that Chapter 13 was the best option
for him.
Debts and Liabilities: Navigating Business Debt
One of the more complicated aspects of Jason’s bankruptcy was his business-related
debts. As a contractor, he had equipment loans, unpaid bills from suppliers, and
occasional issues with clients who hadn’t paid on time. The team at Dellutri Law Group
helped Jason navigate how these debts would be treated in his bankruptcy. In Chapter
7, some business debts could be discharged, while in Chapter 13, he would include
them in his repayment plan.
Dellutri Law Group also helped Jason understand how to protect his liabilities from
lawsuits. As a contractor, Jason sometimes faced disputes with clients over the work
he had performed. They explained which types of lawsuits could be discharged in
bankruptcy and which would not. This gave Jason peace of mind, knowing he could
focus on rebuilding his business without being bogged down by old debts and legal
issues.
Rebuilding After Bankruptcy
After his bankruptcy was discharged, Jason was able to move forward with a clean
slate. With Dellutri Law Group’s guidance, he kept his tools and equipment, maintained
his business, and followed a structured plan for rebuilding his credit. The team helped
him understand how to start rebuilding his financial life, including strategies for saving,
budgeting, and improving his credit score over time.
Dellutri Law Group’s support didn’t stop once the bankruptcy was over. They offered
ongoing advice and resources to help Jason stay on track and avoid future financial
issues.
Jason’s experience with Dellutri Law Group is not unique. With over 1,200 five-star
reviews, the Dellutri team has built a strong reputation for providing compassionate and
effective legal services. They understand the complexities of bankruptcy law, especially
when it comes to self-employed individuals and contractors, and they work tirelessly to
help clients achieve the best possible outcome.
Whether you’re facing debt, trying to figure out which type of bankruptcy is right for you,
or need help navigating Florida’s bankruptcy laws, Dellutri Law Group is here to help.
Their expert attorneys are committed to guiding you through the process, protecting
your assets, and helping you rebuild your financial future.
If you're a self-employed contractor in Florida like Jason and you're struggling with debt,
bankruptcy might be a viable option for relief. With the help of Dellutri Law Group, you
can navigate the complexities of the bankruptcy process with confidence. From
protecting your tools and equipment to developing a customized repayment plan, the
team at Dellutri Law Group will ensure that you receive the support and guidance you
need. Dellutri Law Group is a trusted partner for contractors looking to regain their
financial footing and start fresh. Reach out today to learn more about how they can help
you resolve your bankruptcy issues effectively.