Can I Keep My House If I File for Bankruptcy?

Bankruptcy is a common occurrence. In fact, there were almost 400,000 bankruptcies filed nationally last year. If you are behind in your bills and are not able to meet your financial obligations, you may be considering bankruptcy. Bankruptcy can provide you with a fresh start that will allow you to reset your finances and get out of debt. Many people wonder whether they will be able to keep their homes if they file for bankruptcy. A knowledgeable Florida bankruptcy attorney will answer your ques[...]

Bankruptcy and Student Loans

If you have a student loan, you are not alone. With the costs of college doubling over the last four decades, millions of people have student loan debt well after they graduate. The average student loan debt for a 2020 graduate in Florida is $24,454. The majority of student loans are through the federal government, while a small portion are through private lenders. If you are having financial difficulties and are considering bankruptcy, you will want to know whether your student loans will be di[...]

Switching to a Different Type of Bankruptcy

The type of bankruptcy you choose to file has a significant impact on your case - it affects not only what kind of property you will be able to hold onto but also how many payments you will be making and for how long. One question that we, as Jacksonville, Florida bankruptcy attorneys, will sometimes receive is: Is it possible to switch between the different types of bankruptcies if your circumstances change? While the process of switching between types of bankruptcies can be complicated, it[...]

Addressing A Default Judgment Through Bankruptcy

If you are in debt, creditors can take legal action against you to recover what you owe. If they file a lawsuit and obtain a judgment against you, they can then take action to enforce that judgment and seize any non-exempt property. In this capacity, if you fail to respond to the lawsuit(s) filed against you by the creditor(s), the court can enter into a default judgment or a money judgment for the amount owed plus other costs, and this can absolutely affect your credit score. If this occurs,[...]

What is a Proof of Claim in Bankruptcy?

Filing for bankruptcy allows you to eliminate your debts or set up a reasonable schedule to pay back creditors. As a result, creditors are prevented from threatening you or demanding payment. However, they are also provided with notice that they are eligible to have the debt owed paid back to them. Once they have received this notice, creditors file what is called a proof of claim with the bankruptcy court by the required deadline, which, along with other documents, proves that they are owed[...]

When is the Right Time to Declare Bankruptcy?

The right time to declare bankruptcy typically occurs once you have used all possible sources to settle your debts, but are still unable to do so. If you have significant unpaid debts, are falling behind on your mortgage and possibly risk foreclosure, and/or are receiving collection calls, it is time to speak with a local Florida bankruptcy attorney. While bankruptcy can have serious repercussions on your credit rating, it also has the ability to wipe out your debts and help ensure that you do n[...]

Avoiding Foreclosure on Your Home by Declaring Bankruptcy

While bankruptcy might seem like a last-ditch effort to many, for those potentially facing foreclosure, it can, in fact, save your home in some circumstances. Once a bankruptcy petition is filed, lenders must cease debt collection activities and foreclose on your home unless the mortgage company obtains special permission - what is known as a “Relief from Automatic Stay.” But what type of bankruptcy makes the most sense in this circumstance? Chapter 7 or Chapter 13 bankruptcy, as we discuss[...]

Are Homeowners Association Fees Discharged in Bankruptcy?

Many people likely do not realize that past due homeowners association fees can be discharged through declaring bankruptcy. In these cases, homeowners associations (HOAs) must follow legal requirements to record a Notice of Assessment lien. This amount listed on the lien then becomes secured debts against the homeowner's property in bankruptcy, and, in addition to the HOA fees, any additional notice of assessment lien recorded (for such additional amounts as attorney’s fees, costs, etc.) can a[...]

Filing Multiple Times for Bankruptcy: Explained

If you have previously declared bankruptcy and are now in a position where you may need to file again, the good news is that there is no limit on how many times you can file for bankruptcy. However, there are a number of rules and restrictions that apply, warranting that you work with an experienced bankruptcy attorney. Chapter 7 and Chapter 13 Bankruptcy Explained In a nutshell, when filed correctly, bankruptcy is permanent and wipes out debts so that creditors cannot collect on them.[...]

Discharging Student Loans in Bankruptcy Proceedings

As bankruptcy relief attorneys here in Florida, we frequently receive questions surrounding whether student loans can be discharged in bankruptcy. In a nutshell, the courts can agree to discharge student loans in bankruptcy proceedings, but you first have to prove that they are causing you undue hardship. This includes both federal and private student loans, although they involve different processes. Therefore, the answer to this question is yes, but it is a complicated process that is not guara[...]