Blog Posts - Bankruptcy
Does Filing Bankruptcy Stop the Foreclosure Process?
You are behind on your mortgage payments. Your lender is threatening foreclosure. You may be concerned about losing your home, but you do not have the money right now to get your payment status current. Is there anything you can do to stop the foreclosure process? You may want to...
Continue ReadingCommon Causes of People Going into Debt
The best way to stay out of debt is to earn more than you spend. However, that is easier said than done. Even when you’re doing well financially, anything can happen at any time, causing you to experience financial distress. Many people are able to make more money and get...
Continue ReadingFiling Bankruptcy Can Help You If You Were a Victim of Fraud
Many consumers are victims of identity theft. Hackers use the credit card numbers of various people to buy high-end items. Consumers may not find out until days or weeks later when they check their credit card statements. However, conscientious people who check their accounts daily may be able to stop...
Continue ReadingHow Cosigning on a Loan Can Lead to Bankruptcy
Most of us need a vehicle to get around, especially in a rural area. Or maybe a loved one needs some extra cash and is considering a personal loan. When a person is not making a lot of money but needs to finance a vehicle or get a huge chunk...
Continue ReadingDoes Filing for Bankruptcy Clear Tax Debt?
Many people use bankruptcy as a way to get rid of debt. While bankruptcy can help eliminate a variety of debts, it does not work for everything. Many people struggle with tax debt and wonder if filing for bankruptcy would be a good way to get rid of it. The...
Continue ReadingCan I File for Bankruptcy If I am Unemployed?
You just lost your job. You are drowning in debt. You do not have any income except for unemployment benefits. You are stressed out about money constantly. Sound familiar? This scenario happens to Americans all the time. You may feel as though you will never get ahead, destined to be...
Continue ReadingCan You Withdraw a Chapter 13 Filing?
If you are drowning in debt, bankruptcy may seem like the best option at the time. While a Chapter 7 bankruptcy is often a quick and easy option, many people do not qualify for it. That means they either must keep drowning in debt or opt for Chapter 13 bankruptcy....
Continue ReadingWhat Happens if You Sell Your House When You are in a Chapter 13 Filing?
When filing for bankruptcy, there are two main options: Chapter 7 and Chapter 13. While Chapter 7 wipes out debts, Chapter 13 allows you to keep your assets with a repayment program. Most people opt for a Chapter 13 bankruptcy so they can keep their home. The modified repayment plan...
Continue ReadingDo You Have to Be Behind on Payments to File Bankruptcy?
Many people have filed for bankruptcy, but not all have been delinquent. You may be confused by this. Don’t you have to miss payments in order to be eligible for bankruptcy? It might be time to declare bankruptcy if you have exhausted all your other options. Bankruptcy may be a...
Continue ReadingAm I Eligible to File for Bankruptcy?
If you are drowning in debt, you may be considering bankruptcy. Bankruptcy is a good way to get rid of credit card debt and other debt you may owe. However, you do have to be eligible for bankruptcy. Eligibility depends on the type of bankruptcy. Consumers have two main options:...
Continue ReadingHow Long Does the Bankruptcy Process Take?
Many people consider bankruptcy to be a good way to get rid of mounting debt. However, there are some things you need to know about it. For example, how long does the process take? When will you be debt-free? The process varies depending on the type of bankruptcy you choose....
Continue ReadingHow Will Bankruptcy Affect My Ability to Get a Loan or Credit in the Future?
Getting into mountains of debt can be easy. Even if you try to keep your spending down, it seems like there is always something to worsen your money problems. Maybe your refrigerator stopped working, or your car broke down. You got injured, or your dog must go to the vet....
Continue ReadingWill Bankruptcy Stop Foreclosure or Repossession?
Bankruptcy is often seen as a stigma. It makes a person seem irresponsible or bad with money. However, bankruptcy can do a lot of things to protect you. If you have a home or vehicle that you’re trying to protect, bankruptcy can help you. If you are past due on...
Continue ReadingWhat Assets Can I Keep if I File for Chapter 7 Bankruptcy?
When people struggle financially, they may be tempted to file for bankruptcy. Bankruptcy has a lot of good points. One main benefit is that it can eliminate debts. There’s nothing like a fresh start, especially if you are filing for Chapter 7 bankruptcy. One of the main downsides with this...
Continue ReadingWill Chapter 7 Bankruptcy Stop Creditor Harassment and Collections in Florida?
You are behind on bills. You are trying to make payments, but your paycheck is never enough. You’re struggling financially, going deeper and deeper into debt by the day. But that is not all. Creditors are hounding you day and night. You get phone calls constantly. Late notices are arriving...
Continue ReadingWhat Debts are Dischargeable in Chapter 7 Bankruptcy in Florida?
If you are dealing with financial issues, you may not be able to pay the bills. Your credit card debt may be mounting. You may have trouble staying on top of the utility bills. You are drowning in debt, and your paychecks simply are not covering everything. What are your...
Continue ReadingHow Does Bankruptcy Affect My Credit Score and Ability to Obtain Credit in Florida?
When bills pile up and there is no way to pay them down, what do you do? Many people opt for bankruptcy. Bankruptcy may seem daunting to some people, but it can be a great way to get a fresh start. In many cases, it can wipe out debt. However,...
Continue ReadingCan I File for Bankruptcy on My Own, or Do I Need an Attorney in Florida?
You are in a financial mess and cannot seem to keep your head above water. The bills keep piling up. The balance on your credit cards climbs higher and higher. There is no end in sight. Bankruptcy is on your mind. But how do you go about it? Do you...
Continue ReadingWill I Lose All My Possessions if I File for Bankruptcy in Florida?
Being in debt can be scary but many people are also scared of the alternative: filing for bankruptcy. Bankruptcy can seriously lower your credit score. It can also cause you to give up your assets. This can be a frustrating situation. However, it is important to remember that the goal...
Continue ReadingWhat Type of Debt Does Bankruptcy Eliminate?
When people file for bankruptcy, they often consider it to be a cure-all. They think bankruptcy can eliminate all debts they have. While this is the case in most situations, there are certain debts that cannot be eliminated. Because of this, you need to be sure that the debts you...
Continue ReadingCan Anyone Apply for Bankruptcy?
If you have mounting debt, you may be considering your options. If your income is low or you are unemployed, your debt will only grow until you can no longer survive and become homeless. To avoid this predicament, it’s a good idea to consider drastic measures, such as bankruptcy. Bankruptcy...
Continue ReadingCommon Bankruptcy Myths Debunked
For those with a lot of debt, bankruptcy may be a good option. Bankruptcy can help eliminate debt and give you a fresh start. However, it’s not that simple. Bankruptcy can be a complex process. There is also a lot of misinformation about bankruptcy. Those who are against it may...
Continue ReadingHow Much Debt Do You Have to Be in to File for Bankruptcy in Florida?
If you are drowning in debt, you may be considering your options. Would a personal loan help you consolidate your debt? Could you get another job? How could you stop accumulating debt and earn more money to pay off what you owe? As a last resort, many people choose bankruptcy....
Continue ReadingDoes Filing For Bankruptcy Affect Your Credit Score?
Many Americans struggle financially as it is. An unexpected event, such as a job loss, medical bill, or major car repair, can easily set someone over the edge. They may have to file for bankruptcy in order to survive. Bankruptcy does not have the stigma it once did. In 2023,...
Continue ReadingDoes Filing for Bankruptcy Affect Your Job?
Nobody wants to file for bankruptcy. It is often done as a last resort because it is often seen as a negative mark on your record. People who know you filed for bankruptcy will undoubtedly gossip about you or, at the very least, think differently about you. Even though more...
Continue ReadingWhat is a Credit Counseling Course?
Bankruptcy is not an easy process. While the process can sometimes be expedited, it does not happen overnight. There are requirements involved, and one of them is a credit counseling course. You may wonder what exactly this entails and what the purpose of it is. Credit counseling must be taken...
Continue ReadingCan I Keep My House if I File Chapter 7 in Florida?
If you are struggling with paying debts, you may be considering bankruptcy. Bankruptcy offers many advantages. It can wipe out debts and free up more of your money, allowing you to start over. There are two main types of consumer bankruptcy: Chapter 7 and Chapter 13. In Chapter 7 bankruptcy,...
Continue ReadingHow Do I Know if I Should File for Bankruptcy?
A lot of us struggle with finances and have thousands of dollars in debt. You keep thinking you will get ahead soon. Maybe you will get a raise. Perhaps you will get a large tax refund. But then something else happens. Your car dies and needs a major repair. Your...
Continue ReadingWhat Are The Alternatives for Filing Bankruptcy?
Those who are overwhelmed by debt need to understand their options. Many continue to drown in debt because they are scared of bankruptcy. While many people choose bankruptcy as an option for debt relief, it comes with consequences. While bankruptcy is often seen as a fresh start, it can ruin...
Continue ReadingWhat Are Florida Probate Rules?
When a person dies, their estate will likely go through probate, unless they had a trust. Probate is a court-supervised process for identifying a deceased person’s assets, distributing these assets to beneficiaries, and paying debts. Probate is necessary even if a person has a will. It is required to complete...
Continue ReadingWhat Bankruptcy Type is Right for Me?
Financial problems are not easy to resolve. If you have gotten behind on credit card payments, getting back on track can be a challenge. This is especially true if you have suffered from job loss or are dealing with a huge expense, such as medical bills or car repairs. Struggling...
Continue ReadingBankruptcy and Student Loans: Challenges and Considerations
When you are struggling to keep up with bills and keep digging yourself further and further into debt, you need to consider your options. It does not make sense to keep making the minimum payments and hoping things will get better. For many people, the answer to their financial problems...
Continue ReadingWhat are the Rules for Probate in Florida?
When a loved one dies, you may be tasked with handling their estate. Unless their assets are in a trust, you will have to go through the probate process. An estate is required to go through the probate process if there was no will and all the assets were only...
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 ReadingDo 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...
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 that you 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...
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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