What Paperwork Do You Need to File Bankruptcy?

A big part of the bankruptcy paperwork process involves gathering the proper documents. This process can seem painstaking and overwhelming at times, as you’ll need to gather and produce all documents relevant to your income and expenses, assets, debt, and property transfers. To help guide you through the process of bankruptcy paperwork, we’ve put together a short guide on the types of documents you should be prepared to produce to file for bankruptcy. Income Documentation You’ll need to produce bankruptcy paperwork that serves as proof of income. For most people, this involves [...]

What Is a 341 Meeting in Bankruptcy?

Also referred to as the meeting of creditors, a bankruptcy 341 meeting is a mandatory meeting required by the 341 section of the bankruptcy code. A 341 meeting is an important part of the bankruptcy process and is primarily designed as an opportunity for your bankruptcy trustee (or any creditors) to ask a series of questions pertaining to your case. Most people have never attended a 341 meeting of creditors and aren’t sure what to expect from the proceedings. We’ll outline what you should know and expect before attending below. Telling the [...]

Questions to Ask Your 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, and what you should be expecting from your consultation. Are You A Lawyer? This first question might seem ridiculous at first glance; however, it’s important to ask. Many legal firms send legal support staff or even salespersons to consult with potential new clients, rather than actual attorneys. [...]

Can I Keep My Personal Injury Settlement in Bankruptcy?

Across North Florida, there are people from every walk of life, making a living for themselves. Financial struggles throw a wrench in the plan of any individual but adding in a personal injury claim only adds to the difficulty. For most people in this situation, their biggest concern is whether they will be able to keep their personal injury settlement in the bankruptcy. The answer lies in understanding whether your arrangement is eligible for a personal injury settlement exemption. Personal Injury Settlement Exemption State and federal exemptions exist to help debtors protect [...]

Can I Convert Chapter 13 to Chapter 7?

When debtors file for chapter 13 bankruptcy, they must create a repayment plan to pay off some or all debts over the course of a five-year period. Some individuals find that their situation remains unchanged, and they are able to successfully complete their repayment plan. However, others may find themselves in a difficult position where financial circumstances have changed, and they are no longer able to make payments according to their original repayment plan. Unexpected job loss, unforeseen emergencies, or even disability can leave them wondering if they have the option to [...]

What Is a Bankruptcy Homestead Exemption?

Many homeowners facing bankruptcy wonder if they can protect their home’s equity, which is the value of their property minus the balance of their mortgage. Fortunately, Florida’s homestead exemption exists to protect the equity in your home, and by taking advantage of this exemption, it is possible to protect your nest egg. Below, we’ll discuss more about the importance of the Florida’s homestead exemption in bankruptcy and outline the details homeowners should know. How Does the Bankruptcy Homestead Exemption Work? If your home is worth more than the balance of your mortgage, [...]