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Category: Bankruptcy

Can You File for Bankruptcy if You Lost Your Job?

  With businesses closed during the coronavirus pandemic, many people in Florida have ended up unemployed. According to the United States Department of Labor, the total number of Americans who have filed for unemployment is approximately 22 million individuals, or 13.5% of the workforce.    With this number anticipated to increase even further, many people have sought options like bankruptcy to take control of their debt. Other people have refrained from filing for bankruptcy out o[...]

Dealing with Debt During the Coronavirus Outbreak

  If you are dealing with debt during the coronavirus outbreak, it is important to remember that you are not alone. It also helps to realize that there are some critical things that you can do to take control of any debt that you might have.  To help you take control over your debt during this difficult time, this article reviews some helpful reminders. Maintaining Your Federal Student Loans The Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748, was signed into law on Ma[...]

How the Coronavirus Will Impact Your Bankruptcy

  The coronavirus has impacted most aspects of daily life including issues involving the federal, state, and local governments. Courts have understandably adjusted their regulations in consideration of the pandemic, but there are still some obligations that people filing for bankruptcy should still make sure to meet. This article reviews some critical issues that anyone in the process of navigating bankruptcy should understand about the coronavirus. Bankruptcy Court Closures  While some se[...]

What to Avoid While Repairing Your Post-Bankruptcy Credit 

Many credit repair companies prey on people’s hopes to rebuild their credit. As a result, many people are left in the situation of wondering what they can and cannot do to rebuild their credit score. While there are various steps that you can take to rebuild their credit, this article reviews some critical steps that you should avoid taking as you rebuild your credit score. Do Not Expect Things to Happen Quickly Some credit repair agencies promise to improve credit scores within a short period[...]

How Will Bankruptcy Impact Your Tax Refund?

  Tax refunds are the end product when people pay more taxes during the year than what they actually owe. While you might not think it, tax refunds are a critical source of income for many Americans. It is common for people to wonder if they will be able to keep a tax refund check after filing for Chapter 7 bankruptcy. While it might not seem like a satisfying answer, the reality is that various factors influence whether or not you will be able to keep this amount.  How Bankruptcy Courts V[...]

Resolving Common Errors on Credit Reports

Pursuing bankruptcy allows people to rebuild their credit score. After all, details about a person’s credit history are easily shared with creditors. While some of us think that credit reports are always accurate, however, the reality is that credit reporting agencies make several common mistakes on credit reports. To achieve the best credit score possible, this article reviews some of the most common mistakes credit agencies make on credit reports. How to Handle Credit Reporting Errors If you[...]

When can You Stop Paying on Debts After Filing for Bankruptcy?

If you plan on filing for bankruptcy, you are likely left wondering various questions including when you can stop paying creditors. The short answer is that you should not. Despite this, many people stop paying creditors shortly before filing for bankruptcy and use this money to pay for the bankruptcy filing costs. If you intend on filing for bankruptcy but are not sure exactly when you will do so, however, it is common to end up wondering if it is okay to stop paying your debt. While there is n[...]

How Bankruptcy Impacts Existing Judgments

People in Florida who have existing judgments or liens often hesitate to file for bankruptcy. After all, many of these people believe that these types of legal instruments are final and that it is too late to pursue a good credit report. This is a misconception, however. The following reviews some important information to consider about the impact that filing for bankruptcy can have on existing judgments. Impact of Bankruptcy on Pending Judgments After filing for bankruptcy, an automatic stay is[...]

Four Things to do When You Owe the IRS Money

  As tax season looms, you likely have given some thought to your current financial situation. If you have encountered the problem of not being able to pay your income taxes this year, you might be considering various options, including filing for bankruptcy. While you consider how to respond to this situation, you should review the following five pieces of advice about owing the Internal Revenue Service money.  Promptly File Your Income Taxes Taxpayers who owe the Internal Revenue Service[...]

Four Strategies for Rebuilding Your Post-Bankruptcy Credit

If you recently went through the Chapter 7 or Chapter 13 bankruptcy process, you likely have been left with many questions about what your life will be like now. Many people worry about their credit scores and whether they will ever be able to buy houses or motor vehicles. One of the most common things our clients wonder about is what steps they can take to improve their credit score. The following will review a few helpful steps you can take after a bankruptcy discharge to make the most of your[...]