Category Archives: Chapter 7 Bankruptcy
A Fresh Start In 2022: Chapter 7 Bankruptcy
As the new year opens up new possibilities, perhaps it’s time for you to consider the ways in which filing for Chapter 7 bankruptcy could give you a fresh start in the coming year. If you’re feeling overwhelmed by debt, it could be just the ticket. While just the word “bankruptcy” may bring anxiety… Read More »
Florida Chapter 7 Bankruptcy Questions Answered
If your financial situation is out of control and you spend more time trying to evade bill collectors than actually enjoying your life, you may have considered filing for bankruptcy. But you really don’t know much about what it involves and what the benefit/cost ratio looks like. While the specifics of your situation can… Read More »
Bankruptcy And Tax Debt
If you are struggling with excessive debt and owe thousands of dollars in back taxes, you may feel overwhelmed. But there are remedies to your situation within reach. A qualified bankruptcy attorney can help to explain some options that may bring fairly immediate relief. After all, having creditors calling at all hours is bad… Read More »
Can I Get Rid of a Tax Debt in Bankruptcy If I’m Unable to Negotiate a Settlement with the IRS?
A common question many Florida debtors have is, “Can I eliminate income tax debt by filing for bankruptcy?” In some cases, it is in fact possible to obtain a bankruptcy discharge for such debt. But there are a number of conditions imposed by the federal Bankruptcy Code. For instance, the tax debt in question… Read More »
What Is Considered a “Fraudulent Transfer” in a Florida Bankruptcy Case?
Let’s say you are thinking about filing for bankruptcy, but you are afraid of losing certain assets, such as a car or boat. You might think, “What would happen if I simply gave away the asset to a friend just before I declared bankruptcy?” Then, when your bankruptcy was completed, your friend gave the… Read More »
What Happens to My Potential Civil Lawsuit If I File for Chapter 7 Bankruptcy?
When you file for Chapter 7 bankruptcy in Florida, a court-appointed trustee will take possession of your “bankruptcy estate.” The bankruptcy estate includes all property you own that is not otherwise exempt from the bankruptcy process. By law the estate covers “all legal or equitable interests of the debtor in property as of the… Read More »
How Could an Accidental Omission from My Bankruptcy Petition Affect My Ability to Obtain a Discharge?
A Chapter 7 bankruptcy can give you a fresh start free of your current debts. But when seeking bankruptcy protection, it is critical that you are open and transparent with the court about your finances. If you attempt to hide income or assets, the judge can deny you a discharge of your debts–meaning you… Read More »
How Does Florida’s Homestead Exemption Protect Me in Bankruptcy?
The purpose of bankruptcy is two-fold. First, it enables you to discharge–i.e., eliminate your legal obligation to pay–many if not all of your outstanding debts. Second, it ensures you retain enough property to make a “fresh start.” On this second point, federal and state law allows you to keep or “exempt” certain property. If… Read More »
When Can You Discharge an Unpaid Tax Bill in Bankruptcy?
A question we often get is, “Can I file for bankruptcy to wipe out an unpaid tax bill?” The answer to this question is complicated. While many individual debts can be easily discharged in bankruptcy, there are special rules applicable to taxes. To explain things as simply as possible, you may be able to… Read More »
How Will Bankruptcy Affect My Credit Report?
A common question many people have about the bankruptcy process is the effect it will have on their credit report. The Bankruptcy Court itself has nothing to do with credit reports, which are maintained by private agencies. But federal law still governs how long these agencies can maintain a public record of your bankruptcy,… Read More »