fbpx

Category: Bankruptcy

Holding Onto Your Property in Chapter 7 Bankruptcy

While the bankruptcy process can be daunting, by working with the right bankruptcy attorney and having a basic understanding of how the process works, it is possible for the process to provide relief from debt while allowing you to hold onto your assets While Florida opts out of federal bankruptcy exemptions, the state has its own exemptions that need to be claimed when Chapter 7 bankruptcy is filed. As a result, it is critical that you work with an experienced Florida bankruptcy attorney i[...]

Purchasing a Vehicle During or After Bankruptcy

Your ease in obtaining a car loan after bankruptcy can depend upon whether you filed for Chapter 7 or 13 bankruptcy. It can be more difficult to find a lender, and the interest rate might be higher. Below, we discuss some of the ramifications of purchasing a vehicle under Chapter 13 bankruptcy: Chapter 13 Bankruptcy and Credit Chapter 13 bankruptcy - also known as repayment bankruptcy - allows you to keep all of your assets while repaying your debts and creditors over a period of th[...]

Does Chapter 7 Bankruptcy in Florida Clear Out Credit Card Debt?

Does Chapter 7 Bankruptcy in Florida Clear Out Credit Card Debt?

Many people view bankruptcy as a way to clear out credit card debt and other forms of unsecured debt. In fact, Chapter 7 bankruptcy in Florida can be a very effective way to do just that. However, there are some essential things to know before filing for bankruptcy. First, it is important to understand that Chapter 7 bankruptcy cannot erase all your debt. This is because some debts are not fully dischargeable in bankruptcy. This means that some debts will continue to be owed by you. Examples[...]

How to Stop Your Creditors From Filing a Lawsuit Against You

How to Stop Your Creditors From Filing a Lawsuit Against You

In today’s world, creditors are often quick to file a lawsuit against a debtor. However, there are a few things that can be done to stop them from doing so. By understanding the creditor’s legal rights and how to protect oneself from lawsuits, it may be possible to avoid the costly and time-consuming process of defending oneself in court. This article will show you the steps to follow to ensure that your creditors cannot file a lawsuit against you. What are Creditors’ Rights in Flo[...]

Who Will Know if You File for Bankruptcy in Florida?

Who Will Know if You File for Bankruptcy in Florida?

In order to file for bankruptcy in Florida, you must choose one of the state's bankruptcy courts. Once you have made your choice, the court will assign you a case number and will begin to process your case. However, given that bankruptcy is often available in public records, many wonder what impact that may have on their financial future. This article should help clear the air a bit, by letting you understand who will know about your bankruptcy and what they can do with that information. [...]

What Happens to Child Support if You File for Bankruptcy?

What Happens to Child Support if You File for Bankruptcy?

If you are behind on your child support payments and are considering bankruptcy, you may be wondering what happens to child support if you file for bankruptcy. Sure, bankruptcy could be a lifesaver -- a way to have a fresh start devoid of many financial obligations. Will bankruptcy eliminate your child support obligations in Florida? What is Child Support? Child support is a payment, usually monthly, that one parent pays to the other parent to help cover the costs of raising their child. [...]

Can Bankruptcy Help You Erase Medical Debt?

Can Bankruptcy Help You Erase Medical Debt?

According to a recent report by the Peterson-KFF Health System Tracker Organization, more than more than 6% of American adults have at least one outstanding medical bill that is greater than $1,000. Additionally, the report noted that most Americans who have medical debt disclose that it has caused significant financial difficulty. Understandably, many individuals wish that the difficulty would just go away. Well, if you cannot afford to pay your medical bills and have been struggling to make[...]

Does Bankruptcy in Florida Clear Out Tax Debt?

Does Bankruptcy in Florida Clear Out Tax Debt?

In the United States, personal bankruptcy is a legal process that allows individuals to clear out their financial debts and start fresh. This means that any debts that may be owed could be automatically eliminated by the court system. However, before you make any decisions, it is important to know whether your tax debts will be cleared out by the bankruptcy process. In some cases, tax debts are discharged in a Florida bankruptcy. However, this is not always the case, and there are certain fa[...]

Should Paying Back Debts From Family and Friends Be on Your To-Do List Before Declaring Bankruptcy?

Should Paying Back Debts From Family and Friends Be on Your To-Do List Before Declaring Bankruptcy?

When faced with financial difficulties, many people turn to their friends and family members first. Of course, it is easier to borrow money from family and friends than it is to get a loan from a bank or credit union. What happens if what they provide you is not enough to alleviate your financial difficulties? What you need to know is as follows: Debts owed to family members are lawful. However, if you file for bankruptcy, they will not take precedence over any other debt obligations you[...]

Do Medical Bills Qualify for Bankruptcy?

Do Medical Bills Qualify for Bankruptcy?

If you or a loved one has received a heartbreaking medical diagnosis, been injured in a car accident, or wound up in the hospital after a serious illness, you may be wondering, “Do medical bills qualify for bankruptcy?” The answer is typically “yes.” Medical bills account for 40% of bankruptcies, according to the National Institutes of Health (NIH). An estimated 530,000 families file bankruptcy annually for issues related to medical bills and/or lost wages due to illness or injury. [...]