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 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,...
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...
Should you file for Chapter 7 or Chapter 13 bankruptcy?
Florida residents dealing with overwhelming debt might want to consider bankruptcy. If you're looking at your options, you should know whether it's better to file Chapter 7 or Chapter 13. What is Chapter 7 bankruptcy? Chapter 7 bankruptcy allows you to discharge your...
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...
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...
Debts that won’t go away in bankruptcy
Filing for bankruptcy may make it possible to eliminate credit card, medical or other debt balances. In some cases, it may be possible to do so without losing assets such as your Florida home. However, there are some debts that you cannot eliminate regardless of...
Understanding bankruptcy discharge
Florida individuals who are thinking of filing for bankruptcy likely have a lot of questions. By taking the time to research the bankruptcy process, you can help to put your nerves at ease about how to get your debts discharged. What is bankruptcy discharge? A...
The responsibilities of a bankruptcy trustee
If a debtor in Florida feels they can not manage their debts anymore, they commonly consider bankruptcy. Bankruptcy helps debtors remove certain debts legally by a liquation process in Chapter 7 and debt repayment under Chapter 13. Each bankruptcy type commonly...
Qualifications for Chapter 7 bankruptcy
When debt gets too much of a burden for an individual, they have the option of filing for Chapter 7 bankruptcy. Chapter 7 allows them to erase unsecured debts by selling non-exempt assets. However, it isn't as simple as just filing a petition to start the case because...
