Filing for bankruptcy may be an effective way to reduce or eliminate debt balances without losing property such as a car or Florida home. However, there is no guarantee that you will actually receive any relief after doing so. Let's take a closer look at the debts...
Fort Lauderdale Bankruptcy Blog
The difference between secured and unsecured bankruptcy claims
When a consumer in Florida files a bankruptcy petition, they must list their debts. A creditor also can make a claim under two main types: secured and unsecured claims. How they get treated depends on the type of bankruptcy filed. Unsecured claims Unsecured debts in...
Completing a Chapter 13 plan early
Persons suffering from crushing debt may find their financial situation intolerable. When appropriate, filing for Chapter 13 bankruptcy protection could provide a solution. Unlike Chapter 7, Chapter 13 bankruptcy does not center on a liquidation approach. Chapter 13...
The potential benefits of filing for bankruptcy
Filing for bankruptcy may result in the loss of a Florida home, a vehicle or other assets. However, it may also eliminate credit card, medical or other debt balances that may be stopping you from creating a stronger financial future. Let's take a closer look at why...
What to know about your repayment plan
If you file for Chapter 13 bankruptcy in Florida, you will be required to make payments to creditors for a period of three or five years. The amount that you are required to repay each month is based on the type of debts that you have and the amount of disposable...
The good and the bad of filing Chapter 7 bankruptcy
Bankruptcy is a legal proceeding that allows consumers to remove some unsecured debts. Most consumers in Florida choose Chapter 7, but there are pros and cons. The cons of Chapter 7 One con of Chapter 7 bankruptcy is that the consumer must sell nonexempt assets, such...
Can you lower or cancel your Chapter 13 payments in Florida?
If you have a Chapter 13 bankruptcy repayment plan and struggle to meet your obligations, you can ask the court to modify your agreement. Most Chapter 13 plans pay out in three to five years, so you might have room to stretch your payments. The bankruptcy court judge...
Can landlords evict tenants who file Chapter 7?
Bankruptcy is a legal way for consumers in Fort Lauderdale, Florida, to remove some unsecured debts. However, landlords may wonder if they can evict a tenant who files for bankruptcy. When Chapter 7 bankruptcy stops an eviction Before the new bankruptcy laws in 2005,...
How the automatic stay works in bankruptcy
Bankruptcy allows a consumer in Fort Lauderdale, Florida, to remove some unsecured debts legally. The most common bankruptcy types are liquidation under Chapter 7 and repayment under Chapter 13. While they differ, all bankruptcy types have the automatics stay in...
What to know about credit card debt
If you are unable to pay your credit card debt, it may be in your best interest to consider filing for Chapter 7 bankruptcy. Submitting a bankruptcy petition to a Florida judge may entitle you to an automatic stay. Let's take a look at the other potential benefits of...