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Category: Bankruptcy

Is it Hard to Rent an Apartment After Bankruptcy?

It can be hard to rent an apartment after bankruptcy, but there are ways to increase your chances of doing so. Bankruptcy, a legal way to have many debts forgiven, can be your best option for getting out of debt and getting a fresh start on rebuilding your life; but having a bankruptcy on your record can make it more difficult to rent an apartment. At the Adam Law Group, our Jacksonville bankruptcy attorneys understand what you are going through. We recognize that many hard-working and r[...]

How Filing Bankruptcy can Impact Your Rental Property

While many people who file for bankruptcy understand the basics of the process, people frequently have questions about how specific types of property are handled. If you own a rental house, property, or commercial unit, it is important to consider how these types of property will be affected if you file for bankruptcy. Chapter 7 Bankruptcy and Rental Properties When a person files for bankruptcy under Chapter 7, the individual is allowed to keep certain property that is classified as exempt. Whi[...]

Filing for Bankruptcy Without a Lawyer

  Many Floridians who file for Chapter 7 bankruptcy are low on money. In an effort to save or sometimes because they feel that they can not afford one, people sometimes avoid retaining an attorney who can help them navigate the bankruptcy process. Unfortunately, there are a number of obstacles that people who navigate the bankruptcy process commonly encounter that require the assistance of an experienced bankruptcy lawyer. Some of the most common of these obstacles are reviewed below as a[...]

Why You Should Not be Afraid to File for Bankruptcy

  If you are interested in filing for Chapter 7 or Chapter 13 bankruptcy, it is common to feel scared about what lies ahead. The fears and uncertainties that people have about the process, however, are often unfounded. Soon after filing for bankruptcy, many people discover that the process is not as bad as they thought it would be. In the hopes of squashing any fears that you might have about bankruptcy, the following will examine the realities behind some of the most common fears about the[...]

Wage Garnishment and Bankruptcy

  By the time many people decide to file for bankruptcy, their creditors have begun to attempt to obtain repayment on outstanding debts. In some cases, these debts are so large that the debtors are not able to continue making payments, which results in creditors seeking legal action. One of the most common ways that creditors attempt to collect what they are due is by garnishing debtors’ wages. How Wage Garnishment Works Wage garnishment occurs when a creditor obtains an order from a jud[...]

Deciding if Chapter 7 Bankruptcy is Right for You

  Among the numerous questions that people ask about Chapter 7 bankruptcy, one of the most common is whether a person is a good candidate for Chapter 7. The answer to this question depends on a number of complex factors, which we will review below. Do You Own Property? If you do not have a source of income or any assets, a creditor will often not be able to collect from you, which means that filing for bankruptcy may not be necessary. If you do have a source of income and valuable assets, h[...]

Navigating the Negative Emotions of Bankruptcy

  Not only is bankruptcy a financially difficult arrangement, it can also result in a number of negative emotions. While some people experience a period of relief after filing for bankruptcy because there are no longer creditors to harass them, other individuals can feel stressed out and overwhelmed by the complex legal process and the long time it can take to work through it. The following explores some tips for taking control of yourself and your emotions when filing for bankruptcy. Take [...]

Discharging Tax Debt in Chapter 7 Bankruptcy

  For individuals who are facing financial difficulties, Chapter 7 bankruptcy is often the best option to remove debt and obtain a second chance at a strong credit score. Chapter 7 is frequently chosen by individuals who have a large amount of debt and little income to pay it off. Unfortunately, there are some types of debts that are not able to be discharged in Chapter 7, including student loans and income taxes. Even though income taxes are often not dischargeable in Chapter 7 bankruptcy,[...]

Common Bankruptcy Myths

The bankruptcy process can be quite complex. For this reason, there are a number of common misconceptions about bankruptcy that should not be perpetuated. The following will take a look at the reality behind some of the most common myths that are shared about the bankruptcy process. You Will Never Have Good Credit After Filing for Bankruptcy While a bankruptcy will remain on your credit report for several years from the date of your filing, it is possible to rebuild your credit score after the b[...]

Bankruptcy and Wage Garnishment

An overwhelming number of individuals live from paycheck to paycheck. If you are one of these people, any disruption in your wages can place you in a dire financial situation. To make matters worse, if you are facing a wage garnishment, it is possible that creditors can take as much as a quarter or more of your wages. Many people discover that wage garnishments to this degree make it difficult to pay the bills. The Value of Automatic Bankruptcy Stays Immediately after filing for bankruptcy, you [...]