Category Archives: Chapter 7
The Six Types Of Bankruptcy In Florida
Just as Florida recognizes six types of alimony, it also recognizes six types of bankruptcy filings. Most people you know who have filed for bankruptcy probably filed for chapter 7 or chapter 13 bankruptcy, because these are the categories of bankruptcy protection that apply to individuals. If you know someone who filed for bankruptcy… Read More »
Preparing For Chapter 7 Bankruptcy
Chapter 7 bankruptcy can be an excellent way to wipe out debt and move toward financial stability. However, the potential benefits don’t make this any less of a daunting process, a statement that can be true no matter how many people have found themselves in a similar position. In 2019 alone for example, almost… Read More »
Fewer Americans Are Struggling to Pay their Medical Bills
There is no doubt that medical debt is a significant cost for Americans, even those with health insurance. According to a survey by the Kaiser Family Foundation, the average premium for a person with worker-provided health insurance was over $20,000, of which employers covered around 70%. Before even seeing a doctor, many Americans are… Read More »
Why Raiding Your IRA to Pay Off Debt is a Bad Idea
Living with debt can be extremely stressful. As experienced Plantation bankruptcy attorneys, we have heard clients describe sleepless nights as they mull over their debts. The fear of going bankrupt never really leaves them, and this stress is compounded by constant calls from debt collectors. Many people will do almost anything to get out… Read More »
Can I Keep My Personal Injury Settlement if I File for Bankruptcy?
After a devastating car accident or slip and fall, many victims negotiate a settlement to help compensate them for medical bills, lost income, and pain and suffering. These settlements often provide crucial support to injured victims, allowing them to keep the lights on as they try to recover and return to work. But what… Read More »
What 5 Things Should You Know before Filing for Bankruptcy?
Filing for bankruptcy protection is a significant decision, and one our clients do not make lightly. As experienced attorneys, we make sure our clients fully understand what will happen in bankruptcy along with the alternatives. Below are 5 facts you should be aware of before filing your paperwork. Know Which Debts Will Get Discharged… Read More »
Can You Reduce Income to Qualify for a Chapter 7 Bankruptcy?
Consumers generally have two bankruptcy options to choose from—Chapter 7 and Chapter 13. Each has different strengths and weaknesses, but a big plus of a Chapter 7 is speed. You can usually wipe out qualifying debts in a few months from start to finish. With a Chapter 13, by contrast, consumers must make monthly… Read More »
Can You Lose Your IRA in a Bankruptcy?
A Chapter 7 bankruptcy involves a trade-off: you wipe out qualifying unsecured debts and any property you have gets sold to partially pay your creditors. Florida, like other states, allow debtor to exempt certain property, including an Individual Retirement Account (IRA), so you don’t lose everything. However, a recent court case shows that a… Read More »
Will I Lose My Cell Phone if I File for Bankruptcy?
Many people realize that filing for bankruptcy comes with some strings. In particular, if you file for Chapter 7 bankruptcy, the trustee can sell your non-exempt property and send the proceeds to your creditor. But does this mean you will lose your cell phone? After all, it is an asset, and those are vulnerable… Read More »
Health Crises Still Drive Many to Bankruptcy
An opinion column in USA Today reminds us that health care costs continue to send millions of Americans to bankruptcy. This might be surprising. After all, the rise of Obamacare and the expansion of Medicaid in many states should have put an end to the health care crisis in this country. But as columnist… Read More »