Orlando Bankruptcy Lawyer

  • Can the State Harass Me Over Child Support After a Chapter 13 Bankruptcy?

    ByGoodblatt • Leo Hours Categories Bankruptcy, Child Support, Family Law

    When you file for bankruptcy, the automatic stay goes into effect. This is a stop on all debt collection attempts from your creditors. It is meant to give you some “breathing room” as you work through the bankruptcy process. There are two notable exceptions to this stop: collection attempts for child support and collection attempts for alimony. If you are delinquent in your payment of either of these orders, the state is authorized to take actions to collect the money you owe. These actions can include wage garnishment and seizure of your tax return or lottery winnings.  It is Not Harassment; It is the State Ensuring your Children are Supported The reason why the automatic stay does not halt child support and alimony payments is…

  • How will Bankruptcy Affect my Credit Report?

    ByGoodblatt • Leo Hours Categories Bankruptcy

    Here is the short answer: your bankruptcy case will remain on your credit report for several years and it will reduce your credit score initially, but it will improve. There is no way around these facts; they are simply part of the bankruptcy process and something you agree to when you file for bankruptcy. The chapter you file plays a role in how the bankruptcy affects your credit report, as well as the actions you take after you file for bankruptcy. Even if you do not file for bankruptcy, debts for which you are responsible, can impact your credit score. These include accounts named in bankruptcy cases that name you as a beneficiary, tax liens, judgments, and third party debts in your name.  Ways Chapter…

  • The Trap of Debt Consolidation

    ByGoodblatt • Leo Hours Categories Bankruptcy, Debt Relief

    For any consumers in the Orlando area who are struggling with debt, it can be difficult to know where to turn. You may be seeing commercials and advertisements for debt consolidation, which often come with promises to help you get your finances back on track while avoiding bankruptcy. While consolidating debt may be able to help some consumers, debt consolidation is rarely the answer for many Floridians who are hoping to find a solution to significant financial problems. To be sure, debt consolidation is often a trap for many consumers in need who learn the hard way that debt consolidators take money from consumers without ultimately helping those consumers to gain control of their finances. In the end, many consumers who attempt to use debt…

  • Bankruptcy Experts Push for End to Debt Limits in Chapter 13 Bankruptcy

    ByGoodblatt • Leo Hours Categories Bankruptcy, Chapter 13

    Debt can quickly spiral out of control due to unforeseen or unpreventable events that require spending large amounts of money and/or suffering a substantial loss of income. When debt becomes this overwhelming, many people turn to bankruptcy for relief. Living with the burden of unmanageable debt is an oppressive situation that rarely gives the debtor a real opportunity to regain financial health. Bankruptcy is intended to give debtors this chance, but there are rules that must be followed before the bankruptcy process is accessible. Chapter 13 bankruptcy is a popular option for debt relief among individuals with regular income wanting to keep certain property, or when a Chapter 7 discharge is not available. Qualifying for Chapter 13 is usually less restrictive compared to Chapter 7…

  • Dispelling Myths about Filing for Bankruptcy

    ByGoodblatt • Leo Hours Categories Bankruptcy

    Filing for bankruptcy is a big step toward regaining control of one’s finances, but for many people contemplating this decision, negative myths can delay taking action. Life is full of unanticipated and uncontrollable events that can derail a person’s financial security – major illness, serious accidents and long-term unemployment – to name just a few, and bankruptcy exists to help these individuals get out of this untenable situation and start over with a clean slate. Bankruptcy offers those overwhelmed with financial concerns the ability to find peace of mind again by allowing them the ability to have a fresh, debt-free start. However, before initiating the bankruptcy process it is important to dispel some myths about the process and repercussions so debtors have a better sense…

  • How will I Know when Bankruptcy is the Right Choice for Me?

    ByGoodblatt • Leo Hours Categories Bankruptcy

    It is not easy to accept that you are facing such a large amount of debt that bankruptcy is your only option. But if you have exhausted all other options and you cannot realistically repay the debt on your own, this is a truth you need to accept. Speaking with an accredited financial counselor or a bankruptcy lawyer can help you make this determination and explore options you might not have realized you had. If you are facing one or more of the following struggles in your life, it could be time for you to file for bankruptcy. When your Debt Grows Each Month Despite No New Charges Debt compounds the longer it goes unpaid. Currently, the average annual percentage rate (APR) for credit cards…

  • What Not to Do When you File for Bankruptcy

    ByGoodblatt • Leo Hours Categories Bankruptcy

    When you file for bankruptcy, there are certain things you need to do like complete a credit counseling session. You also need to make sure you are eligible for the bankruptcy chapter you file. There are also certain things you should do when you are working through the bankruptcy process, like create a household budget and educate yourself about the bankruptcy process. There are also things you should not do when you are completing a bankruptcy case. Certain mistakes can make your bankruptcy more difficult, while others can actually result in a dismissal of your case or criminal charges. Talk to your lawyer about mistakes to avoid during the bankruptcy process and how you can make the process as straightforward for yourself as possible. Do…

  • I Filed for Chapter 7 Bankruptcy. Will I lose my Assets?

    ByGoodblatt • Leo Hours Categories Bankruptcy, Chapter 7

    If you are facing an insurmountable level of personal debt, you may be considering Chapter 7 bankruptcy. Chapter 7 bankruptcy can result in the loss of certain of your assets, but in the vast majority of cases,  the filer’s exempt assets are mostly exempt and you can retain them. An experienced Bankruptcy lawyer will work with you to determine how you may be able to retain your assets in an ethical manner. Cash Any cash you have available, either on hand or in savings or checking accounts, is an asset of your Bankruptcy estate to which the Trustee can look to pay your creditors. However, there are so many exemptions that apply to these funds, that with careful ethical planning, you may plan your bankruptcy…

  • How to Know When it is Time to File for Bankruptcy

    ByGoodblatt • Leo Hours Categories Bankruptcy

    For many people, “bankruptcy” is a bad word. It often has connotations of failure or an inability to control one’s own financial habits. These connotations are untrue and harmful – individuals and companies use bankruptcy as a tool to manage their outstanding debt for many different reasons. More often than not, the circumstances that lead to bankruptcy are beyond the filer’s control, such as catastrophic health care costs.. But the negative stereotype that many have about bankruptcy may keep deserving people from seeking the relief they are entitled to. If you are only able to make the minimum payments on your debts and you find yourself watching your debts increase or remain stagnant despite these payments, it might be time to file for bankruptcy. If…

  • Rebuilding your Credit Score After Bankruptcy

    ByGoodblatt • Leo Hours Categories Bankruptcy

    Your credit score will suffer after you file for bankruptcy. Bankruptcy will stay on your credit report for up to 10 years after you file. Although you cannot avoid this hit to your credit, you can take steps to mitigate it by raising your credit score and maintaining good credit habits after you file for bankruptcy and after your case is closed. Below are four strategies to use to help yourself rebuild your credit score after bankruptcy. Using Credit Cards Although credit cards might be what got you into debt in the first place, you can use them responsibly and rebuild your credit score at the same time. Consider getting a secured credit card, a card with a credit limit determined by the collateral you…