The moment you file a bankruptcy petition with a Florida court, you will be granted an automatic stay against most creditor collection activities. The stay generally remains in place for the duration of the proceeding unless there is a valid reason to remove it. How...
Bankruptcy
What to know about debt consolidation
If you are having trouble keeping track of multiple debt payments, it may be time to consolidate existing balances. Consolidating existing debts into a single payment minimizes the risk that you miss a payment. Furthermore, it may reduce the interest that you pay to...
How does proof of claim work in a Chapter 13 bankruptcy?
When debtors go through a Chapter 13 bankruptcy in Florida, creditors need to submit proof of claim to receive debt repayment. Creditors can print out form 410 from the US Courts Bankruptcy Forms page. Lien rights Secured creditors retain lien rights to keep the...
Can all of my debts be eliminated by a bankruptcy?
Not all of your debts can be eliminated by in bankruptcy. However, since the process is not a one-size-fits-all answer to debt issues, it's essential for Florida residents to understand the details so they can plan their finances accordingly. Filing for bankruptcy can...
Settling tax debts with the IRS
Owing money to the Internal Revenue Service is not something many Florida taxpayers wish to experience. Federal law affords options to people who owe taxes, including extensions and payment plans. However, some taxpayers may be entirely unable to pay the amount they...
Which debt relief option will work best for you?
No matter how hard you work, you may find yourself suddenly unable to manage all of your bills. A sudden medical expense, reduced work hours or a vehicle breaking down often create financial emergencies. Faced with these financial disasters, people in Florida may need...
Bankruptcy myths prevent many debtors from filing
Some Florida residents hesitate to file for bankruptcy for various reasons. Many of their fears are unfounded because of common myths surrounding this legal procedure. Don't let these myths prevent you from getting the debt relief you need. Bankruptcy filings are...
How to keep your vehicle in a Chapter 7 bankruptcy
Many Florida residents file Chapter 7 bankruptcy out of need when they are overwhelmed by their financial obligations, and this often puts the debtor's vehicle in jeopardy of repossession or confiscation. Property that is paid off and clear of liens can be seized and...
Bankruptcies increased in August 2022
Individuals and businesses in Florida might find themselves struggling financially. Trends show that others across the United States are dealing with debt burdens, as evidenced by a growing number of bankruptcy filings. Hard data about 2022 bankruptcy filings...
Learning how bankruptcy works
Some confusion exists about what bankruptcy entails. While most people realize that bankruptcy presents a solution for persons struggling with crippling debt, they might not know how the process works or who is eligible. In general, debtors may find filing for...