Blog Posts - Bankruptcy
Do I Have to Give Up All of My Assets in Bankruptcy?
In considering bankruptcy, the fear of losing all assets often holds people back from making this often-beneficial decision. For the court to reduce or eliminate debt, they will need to examine your assets and determine what you can keep and what you’ll have to give up. If you’re thinking about...
Continue ReadingCan I keep some of my credit cards while filing for bankruptcy?
Credit cards can make your life easier and help you purchase items you may not be able to afford right away but agree to pay off over time. After years of relying on credit cards as a security net, the idea of losing access to them can be alarming. Despite...
Continue ReadingEssential Insights from a Bankruptcy Attorney
No one really likes the idea of filing for bankruptcy, but it could help (and has helped) many people resolve their financial issues and get out of debt. However, even for people who are ready to file for bankruptcy, figuring out whether bankruptcy is the best course of action can...
Continue ReadingWhat Type of Bankruptcy Chapter Should I File?
The decision to file for bankruptcy and what chapter you should file will depend on your specific financial situation. Chapter 7 is best for people who have inadequate earnings to pay some of their debts and want to retain non-exempt property. But if they have property or some income and...
Continue ReadingEmbracing Financial Resilience: A West Palm Beach Bankruptcy Attorney's Guide
Financial concerns are probably one of the top stressors for many people. Whether struggling to pay their monthly bills, covering their mortgage or car loan, paying off their credit card, or retirement planning, many people just can’t seem to stop worrying about their money problems. This is where financial resilience...
Continue ReadingLocal Bankruptcy Laws in FL
Bankruptcy is an available process to seek financial and legal relief set out by the United States Bankruptcy Code at the federal level. While local bankruptcy laws in Florida primarily fall under the jurisdiction of the federal bankruptcy courts, there are some specific provisions and exemptions that are unique to...
Continue ReadingWhy Do I Need a Bankruptcy Attorney?
Filing for bankruptcy gives people a chance to get their financial health in shape. However, since bankruptcy involves complex laws and legal proceedings, navigating the entire process alone can be extremely challenging for the average person. While the law allows people to file for bankruptcy without legal assistance, it is...
Continue ReadingNavigating Financial Challenges: How a West Palm Beach, FL Bankruptcy Lawyer Can Help You Get Back on Track
Even if you are careful and make responsible decisions, financial concerns can arise when you least expect them. Whether you had an unexpected illness that resulted in medical bills, a failed small business enterprise, or any other hiccup, it can be difficult to live with the stress of financial challenges,...
Continue ReadingCan I Keep Credit Cards While I File for Bankruptcy?
Many people resort to bankruptcy when their financial struggles become overwhelming. Filing for bankruptcy will freeze your credit file, which means you can’t apply for new credit until your case has concluded. This is why people planning on filing for bankruptcy prefer to keep their credit cards. However, once a...
Continue ReadingHow Will Bankruptcy Affect My Credit?
Bankruptcy can help a great deal if you are struggling with your finances. Bankruptcy laws provide debtors with much-needed relief from their debts and give them a fresh start. However, this fresh start comes at a price, which is usually a significant hit to the debtor’s credit. On the other...
Continue ReadingHow Bankruptcy Lawyers in Florida Can Help You
Filing for bankruptcy is an excellent way to relieve yourself of overwhelming debt. However, the entire bankruptcy process, from assessing your property to accurately disclosing your assets, dealing with creditors, and filing the right paperwork can be immensely daunting. That is where Florida bankruptcy lawyers come in. If you have...
Continue ReadingWhen to Seek Bankruptcy Help in South Florida
For many people, filing for bankruptcy is usually the most practical option to get their financial health back in shape. However, because bankruptcy cases involve complex legal issues, it can be daunting to navigate the entire process alone. While people can file for bankruptcy without legal representation, a report by...
Continue ReadingCan Bankruptcy Affect My Credit Score?
Bankruptcy can help you get a much better handle on your finances, get out from under crushing debt, and obtain a new financial lease on life, but it can also negatively affect your credit score. The benefits that bankruptcy can afford in a difficult financial situation, however, can far outweigh...
Continue ReadingWhat Are Common Questions about Chapter 13 Bankruptcy?
Bankruptcy is a complicated but important legal matter that can afford you the opportunity to crawl out from under crushing debt and move forward toward a fresh financial start. Chapter 13 bankruptcy refers to a supervised payment plan in which you don’t have to liquidate your assets but instead secure...
Continue ReadingWhat Are Common Questions About Chapter 11 Bankruptcy?
In general, bankruptcy is a legal tool allowing individual, married, or business debtors to get out from under certain debts. However, there are many myths about bankruptcy, and the topic brings up many questions. Here, our skilled bankruptcy attorney, Brian McMahon, answers some of the most common questions about Chapter...
Continue ReadingFiling for Bankruptcy in FL
While you may have other debt-relief options available to you to fix your financial health, filing for bankruptcy in FL is the most practical option for a lot of people who are having difficulties supporting themselves. In Florida, the most common options for bankruptcy are chapter 7 and chapter 13....
Continue ReadingCreditors Approach to the COVID Crisis FAQ
(COVID Crisis) – Policies are changing every day, please contact us to discuss solutions that may suit you Can I skip my rent payment during COVID crisis: This will be up to your landlord. Often times, the landlord has to continue to pay the mortgage. So, the landlord will still...
Continue ReadingHow to Select a Bankruptcy Lawyer
It’s a helpless feeling. But each day, hundreds of people throughout West Palm Beach file for bankruptcy as a last resort to pay off their debts. Whether you’re planning to file Chapter 7 or Chapter 13 bankruptcy, the process can be complex. Unless you’re an expert in bankruptcy law, tackling...
Continue ReadingWhat Bankruptcy is Right for Me?
For most Americans, there are two applicable chapters in bankruptcy, chapter 7 and chapter 13. The determination of filing either a chapter 7 or chapter 13 is made first, by the consumer’s needs and second, by the amount of assets or amount of income. The “new” bankruptcy laws created a...
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