What Not to Do Before Bankruptcy

If you are struggling under the stress and burden of unpaid debt, it can be tempting to make rash decisions to get relief. But bankruptcy, while an effective financial solution for some, is a serious legal matter that should be carefully thought out. Unfortunately, many people rush into bankruptcy because of mounting financial pressures without considering whether they are in the best position to file. In this article, we’ll discuss a few things you should avoid before filing bankruptcy, so that you can better decide if your situation is conducive for moving [...]

Florida Bankruptcy Court Offers New Student Loan Repayment Program

It’s no secret that student loan debt is a widespread problem within the United States. With an estimated 44 million Americans owing $1.5 trillion in student loan debt, many Americans are looking for a way out and are seeking relief from surmountable debt. But as a result of Clinton-era legislation, bankruptcy doesn’t always provide relief to student loan debtors. Thankfully, a new Florida student loan program is designed to address this problem, and give debtors with student loan debt more options for relief in bankruptcy. We’ll explore more information about this new [...]

Why File for Bankruptcy?

Insurmountable debt can make life feel like an inescapable prison. Circumstances such as job loss or even medical debts can make it difficult to keep your head above water, and many people struggle to find a way out. Bankruptcy can offer relief, but for most people, the idea of filing for bankruptcy can be a scary one. It can create feelings of failure and shame, or make you feel as if you and your finances will be stigmatized for life. Bankruptcy doesn’t need to carry the stigma of shame or embarrassment. For [...]

How Often Can I File a Bankruptcy?

How often you can file a bankruptcy depends upon your specific circumstances, including which type of discharge you received previously. From Chapter 7 to Chapter 13 Actually, you can file a Chapter 13 immediately after filing a Chapter 7. Known as a “Chapter 20,” this is actually a strategy employed for a client who is eligible to file a Chapter 7 but is also in need of catching up a house payment, restructuring a car payment, or paying off a priority debt, like the IRS. The Chapter 7 eliminates all unsecured debt, [...]

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. 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. Many clients wonder if bankruptcy can help stop wage garnishment and provide relief to their dire financial situation. Below we’ll lay out the basic facts you should know about bankruptcy and wage garnishment. Can Bankruptcy Stop [...]

Chapter 13 Repayment Plan: What Is It and How Does It Work?

One of the distinguishing characteristics of chapter 13 bankruptcy is the requirement of a repayment plan. Many debtors looking to begin the chapter 13 bankruptcy process often have questions about the repayment plan process. We have created a guide to the repayment plan with everything that you should know. What is a Chapter 13 Repayment Plan? Whereas chapter 7 bankruptcy requires no repayment of debts, chapter 13 bankruptcy requires monthly payments to be made over the course of a three to five-year period. You and your attorney submit a repayment plan for [...]