Are there different types of bankruptcy debtors can file?
There are different types of bankruptcies, which are referred to by their chapter in the U.S. Bankruptcy Code. https://www.usbankruptcycode.org/. Individuals usually file a Chapter 7 or a Chapter 13 bankruptcy, depending on their situation. A debtor will file a Chapter 7 bankruptcy if they have insufficient income to pay a portion of their debts and there is […]
Understanding the Bankruptcy Petition: A Step-by-Step Guide for Florida Filers
Bankruptcy Petition – What is it? After your bankruptcy petition is completed, it will be emailed to you for your approval. You will be required to read petition to ensure it is accurate and sign the document, attesting under penalty of perjury, it is accurate. Any changes or corrections need to be brought to your […]
Bankruptcy Rule #1: Tell the Truth—And Know Your Rights in Florida
Rule #1 – Tell the truth. Bankruptcy is for the “honest but unfortunate debtor”. Most debtors are “insolvent” meaning they cannot pay their bills timely and therefore, have met the “unfortunate part” of the bankruptcy code. A debtor must also meet the honest part. Please be honest, truthful, and diligent when disclosing all assets, liabilities, […]
Can a debtor file for bankruptcy more than once?
Filing a bankruptcy case gives you a fresh start to recover after a financial crisis without the burden of debts you cannot pay hanging over your head. By filing a Chapter 7 or Chapter 13 bankruptcy case, you can get out of debt, protect retirement savings, and keep your property.
The Fair Credit Reporting Act (FCRA)
The Fair Credit Reporting Act (FCRA) details how creditors can collect information and access debtor’s credit reports.
When Can Student Loans Be Discharged In Bankruptcy?
Student loan debt has skyrocketed past credit card debt in the United States. Mortgage debt is the only debt category with a higher amount owed compared to student loan debt.
Three Debts That You Cannot Discharge in a Florida Bankruptcy!
When a debtor files for bankruptcy relief, the “end game” is to get out of debt. Most unsecured debts are eligible for a discharge in Chapter 7 and Chapter 13 bankruptcy discharge. But there are several debts that one cannot discharge in bankruptcy including: alimony or spousal support; child support; most debts owed to government […]
Top Bankruptcy Questions and Misconceptions!
Honestly, no one wants to file for bankruptcy. Deciding it’s something you must do is incredibly painful, humbling, and embarrassing. Often the hardest part is committing to retaining a bankruptcy attorney and to the recovery or financial healing process. From what I have seen, the most common causes of financial hardship are the loss of […]
Should I File a Chapter 13 Bankruptcy Case or a Chapter 7 Bankruptcy Case?
As a Bankruptcy Lawyer in St. Augustine and Orange Park Florida, I realize deciding whether to file a Chapter 7 or a Chapter 13 case can be confusing to most clients. Firstly, you will want to schedule a conference with your bankruptcy lawyer to discuss in great detail your financial situation and the assets you […]
Does Business Debt help me qualify for a Chapter 7 bankruptcy?
Roughly eighty percent (80%) of new businesses fail within the first eighteen (18) months and one-half (50%) of the new businesses fail after the first four (4) years. Only twenty percent (20%) make it past their five-year (5) anniversary. So, what happens to the business debt of small business owners if their business folds? Business […]