Many Florida residents might find that they have to file for bankruptcy to alleviate their debt. However, this often carries a stigma. You might wonder whether your current or future job might be affected as a result. What happens when you file for bankruptcy? When...
What debts are not dischargeable in bankruptcy?
If a consumer has too much debt they can't pay, bankruptcy may allow them some relief. However, not all debts in Fort Lauderdale, Florida, can get discharged in bankruptcy. Debts in Chapter 7 and Chapter 13 bankruptcy Most filers opt to file Chapter 7, which is a...
4 common reasons why a teacher may need to file bankruptcy
Unfortunately, many factors of your life as a teacher in Florida can come together simultaneously and make it challenging to cover all your payments. If you're in this position and have had financial pressures combating you, you may need to resort to filing...
Does bankruptcy protect retirement assets?
Persons struggling financially might file for bankruptcy to protect themselves from creditors. Not all bankruptcy debt faces discharge, though. With Chapter 13 bankruptcy, the debtor must make monthly payments to creditors as part of the filing. Some Florida residents...
How the bankruptcy means test works
If people struggle to pay their debts, they have the option of filing for bankruptcy. Many individuals choose Chapter 7 because it discharges debts faster than Chapter 13. However, a person in Fort Lauderdale, Florida, must pass a means test to be able to file for...
How many people file for bankruptcy?
Anyone dealing with significant debt may wonder if others are in the same position. Florida residents file for bankruptcy for many different reasons, and Sunshine State debtors are not alone. The sheer volume of cases that enter federal bankruptcy court reveals...
Can you keep a home in bankruptcy?
When a consumer in Fort Lauderdale, Florida, sees no way out of debt, bankruptcy gives them a legal option. However, they may hesitate to file from fear of losing their home. While it is possible to keep a home in bankruptcy, it depends on various factors. Mortgage...
What should you know about student loan forgiveness?
Many Florida residents will be able to breathe a sigh of relief over their student loans. The Biden administration recently announced that it has instituted loan forgiveness for over 100,000 borrowers who attended ITT Technical Institute schools prior to graduation....
Is student loan debt relief on the way?
Many Florida residents struggle with excessive and unrepayable debt, and student loans often form a large portion of that burden. Student loans have been exempted from bankruptcy protection, which means that even people who have their credit card bills, medical debt...
Some myths about bankruptcy in Florida
Bankruptcy gets a terrible rap in Florida. Of course, no one wants to be in a financial hardship that forces them to file for bankruptcy, but if you do, it is a powerful tool to get your life back on track, and you end up becoming more financially adept. That said,...
