5 Bankruptcy Exemptions in Florida
As noted previously, Florida is one of the states which opt to use its own state bankruptcy exemptions instead of the federal bankruptcy exemptions. Florida allows a complete exemption for one’s homestead property – up to one half acre in an incorporated municipality and up to 130 acres if the property is not in an [...]
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Bankruptcy Exemptions in Florida
The Bankruptcy code allows the debtor to exempt certain property, meaning that you get to keep the property, notwithstanding the bankruptcy. The code itself has a list of exemptions. However, the Bankruptcy Code allows the states to elect to “opt out” of the exemptions allowed by federal law and to instead use the law of [...]
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Following the Rules of Chapter 7 Bankruptcy
Filing for Chapter 7 Bankruptcy in Florida is a fairly straight forward process if you follow the rules. The new bankruptcy law, requires a little more paperwork on filers than before, however if you submit all of the required paperwork and qualifications of the law, filing bankruptcy will be easier for you. Along with the [...]
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You Are Not Your Bankruptcy
Bankruptcy is an emotional time for those involved. Whether you are weighing your options, filing for bankruptcy or a part of a family decision to file bankruptcy it is emotional for everyone involved. A very important thought to keep in mind, is you are not your bankruptcy and you are not alone. Experts in the [...]
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Who Is the Trustee?
When your attorney files a Chapter 7 bankruptcy for you, a Trustee will be assigned to your case. As the liaison between you and your creditors, the Trustee plays a pivotal role and is sworn to uphold the federal bankruptcy code’s rules and regulations. In a sense, he or she plays a “watchdog” role over [...]
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Bankruptcy Timing is Important
Once you’ve decided to file bankruptcy, you may already feel a huge weight lifted off your shoulders. Part of that will come from simply having made the decision to liquidate your debts and move on with your life. Another part will come from being able to tell creditors that you’re in the process of filing, [...]
Posted in What Does Bankruptcy Mean To You | Tags: bankruptcy, bankruptcy relief, Chapter 7 bankruptcy, filing bankruptcy, Proper Bankruptcy Timing | 6 Comments
There Is Life (And Credit) After Bankruptcy: 5 Steps To A Fresh Start
Post-bankruptcy, life’s misfortunes may not be fully resolved. Still a future focus is key. Here are five steps to a fresh financial start after bankruptcy: Avoid making any big financial or life changes for three months, if other life issues don’t force doing so. It’s especially important not to incur new loan liabilities that may [...]
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Key Florida Chapter 7 Exemptions: Home & Retirement Savings
Exemptions in bankruptcies refer to protected assets that cannot be sold to satisfy creditor claims. State bankruptcy exemptions take precedence over Federal exemptions, resulting in wide state-to-state variations. Florida, An Advantageous Bankruptcy State In Florida, the two key Chapter 7 exemptions are a debtor’s primary (homestead) residence and retirement assets. Because these two assets often [...]
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Four Reasons Why Chapter 7 Bankruptcy Can Offer Quick Debt Relief
For most people seeking debt relief, a Chapter 7 bankruptcy offers a relatively simple and fast discharge of debts, even if the process from start to finish can take several months. Here are four reasons to choose a Chapter 7 bankruptcy in Florida if your financial situation qualifies: Chapter 7 is the easiest form of [...]
Posted in Reasons to File Bankruptcy | Tags: Bankruptcy in Florida, Chapter 7 bankruptcy, debt relief for chapter 7 bankruptcy, debtors assets, Florida bankruptcy | 1 Comment
Get A Fresh Financial Start: Bankruptcy As A Tool, Not A Stigma
For many people suffering the burden of too much debt, bankruptcy may seem the end of the road. It’s not. Bankruptcy is a tool for debtors to get a fresh start on the road to financial freedom. It can eliminate most, if not all debt, depending on the type of bankruptcy filed. It will stop [...]
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