Category Archives: Chapter 7 Bankruptcy
Understanding the Means Test in Chapter 7 Bankruptcy
When filing bankruptcy, there is not one solution that is right for everyone. Chapter 7 bankruptcy allows you to discharge, or eliminate, all or most of your unsecured debts. This makes Chapter 7 a very attractive option for debtors because they are no longer responsible for their debt. However, because Chapter 7 allows you… Read More »
Can a Bankruptcy Trustee or Creditor “Break Into” My House to Take My Property?
Many Florida residents struggling to pay their debts are understandably worried that a creditor–or even the police–might show up on their doorstep to seize their property as payment. This is not an unfounded fear. Florida law allows a secured creditor to obtain a court order to seize any collateral without notice to the debtor…. Read More »
Is a Debt Owed to Your Ex Dischargeable in Chapter 7 Bankruptcy?
A Chapter 7 bankruptcy allows a Florida debtor to discharge most of their pre-bankruptcy debts. Some debts, however, are deemed “non-dischargeable” under federal law, which means they remain enforceable even after the debtor completes the bankruptcy process. Such non-dischargeable debts often include money owed to a current or former spouse. There are actually two… Read More »
Can a Creditor Garnish My Bank Account After I Receive a Bankruptcy Discharge?
There is a common misconception that a Chapter 7 bankruptcy wipes away all of your debts. What actually happens is that the court will discharge any debts that are specifically protected under federal law. A discharge functions like an injunction. It essentially prohibits the creditors holding the discharged debt from taking any further legal… Read More »
7 Bankruptcy Myths That Could Harm You
In the U.S., your financial credibility is all about your credit report and credit scores. Yet, if you are submerged in debt, and the loan sharks are after you, you might have no option except to file bankruptcy. In such cases, your credit score might plummet even further than where it is currently. And the… Read More »
Bankruptcy In Florida: The Comprehensive Guide
If you struggle to keep up with your debt, filing for bankruptcy in Florida may be the solution. Bankruptcy allows borrowers to stop all collection efforts and get a fresh start immediately. Phone calls, wage garnishments, foreclosure sales, and collection notices must stop immediately after filing bankruptcy. Bankruptcy also provides a discharge of debt to… Read More »
Florida Foreclosure Moratorium For COVID-19 Lifted
The COVID pandemic has had a devastating impact on the health and financial stability of many Floridians. In response to the COVID pandemic, Florida issued a foreclosure moratorium. A moratorium is a temporary prohibition or suspension of an activity. The foreclosure suspension was in effect for many months but recently expired. Fortunately, there may… Read More »
Florida COVID-19 Mortgage Assistance & Forbearance
The coronavirus has had a devastating impact on the lives of countless Americans. Many have fallen ill, and others have become unemployed and are struggling to meet their financial obligations. Congress has recently enacted new laws to help homeowners struggling to pay their mortgage because of COVID. To learn more about which option may… Read More »
How To File Chapter 7 Bankruptcy In Florida
Chapter 7 Bankruptcy in Florida represents a legal process that allows the discharging or wiping out of a debtor’s unsecured liabilities once their non-exempt properties have been sold off. To be eligible for filing a Chapter 7 bankruptcy in Florida, the individual must either be a permanent resident of the state or hold property… Read More »
How To Discharge Debt With Bankruptcy In Florida
In most cases, obtaining a discharge will be the primary reason why a borrower files for bankruptcy. If a debt is discharged in bankruptcy, the borrower will be released from all personal liability on the debt. Further, creditors will be restricted from taking any collection action against the debtor for debts discharged in bankruptcy…. Read More »
