Click here for information on our COVID-19 protocol.

Bankruptcy Blog2020-05-06T16:21:57-04:00

How Long Does Bankruptcy Stay on Your Credit Report?

If you are thinking about bankruptcy, you have most like wondered how long it will stay on your credit report. Many people think that bankruptcy is the end of their financial road, and that any future financial success is impossible. As a result, we receive questions about the best ways to move forward after bankruptcy. Specifically we're asked, “How long does bankruptcy stay on your credit report?” While bankruptcy does have an impact on your credit report and score, it doesn’t last forever. So, it is very possible to move on and [...]

Will Bankruptcy Stop Wage Garnishment?

Having unpaid debt can be overwhelming. As debts pile up, creditors can gain court orders to begin to garnish your wages—only making your financial problems worse. This means that your employer will withhold a percentage of your pay and send it to the creditor. In the case of certain debts like taxes, child support, or student loans, creditors can even force your employer to withhold a portion of your paycheck without a court order. It is possible to protest a wage garnishment, but this requires filing paperwork with the court and scheduling [...]

What Is the Bankruptcy Means Test?

Before filing for bankruptcy, individuals must submit to a bankruptcy means test. The purpose of the test is to determine if the person has enough disposable income to file a Chapter 13. The bankruptcy means test is an important aspect to understanding which chapter filing of bankruptcy is most likely to fit your particular situation. This test determines the income level—the “financial means”—of any individual seeking to file bankruptcy. The means test formula was originally designed to ensure high-income earners file Chapter 13. Courts use it to determine if your income is [...]

What Can You Keep in Bankruptcy?

One of the most common questions we are asked is, “What can I keep in bankruptcy?”Another popular question asked by bankruptcy filers is, “Will I lose any of my assets in bankruptcy?” The short answer is, “No,” but you should keep reading anyway. Your assets come into play more in a Chapter 7 bankruptcy than a Chapter 13. This is because the Chapter 7 trustee’s focus is on the value of your non-exempt assets. The Chapter 13 trustee’s focus is on your household disposable income. What are your “non-exempt" assets? Under Florida [...]

Questions to Ask a Bankruptcy Attorney

The journey to finding a reputable bankruptcy attorney is often a lengthy and challenging part of the bankruptcy process. As you try to determine if bankruptcy is the right solution for you, you may wonder what you should be looking for in a bankruptcy attorney. In addition, you may wonder what you should be expecting from your consultation. Here is a list of questions to ask a bankruptcy attorney in your consultation. Are You A Lawyer? This first question might seem ridiculous at first glance; however, it’s important to ask. Many legal [...]

How Often Can I File a Bankruptcy?

If you're thinking about filing for bankruptcy, and have filed in the past, you may be wondering how often you can file for bankruptcy. How often you can file depends upon your specific circumstances. This includes which type of discharge you received previously. From Chapter 7 bankruptcy to Chapter 13 bankruptcy Actually, you can file a Chapter 13 bankruptcy immediately after filing a Chapter 7 bankruptcy. It is known as a “Chapter 20 bankruptcy.” This is a strategy employed for a client who is eligible to file a Chapter 7 but is [...]