The possibility of filing bankruptcy with no money seems bleak if you don’t know what you’re doing. You should know that the process of filing bankruptcy doesn’t always require you to have money to spare. Usually, people apply to bankruptcy courts to exempt themselves from the filing fee. Once they have been exempted, they can … Continue reading “How Can I File Bankruptcy with No Money?”
Blog
Why You Will Need a Personal Bankruptcy Lawyer
Individuals who are going to file for chapter 7 bankruptcy often ask if they can file it on their own. It can be quite tempting to file chapter 7 bankruptcy on your own, especially when you are in a financial crisis. You may be thinking why spend more money by hiring a personal bankruptcy lawyer … Continue reading “Why You Will Need a Personal Bankruptcy Lawyer”
Why You Should Hire a Plantation Bankruptcy Lawyer
If you have not been able to pay your debts for years or even months, then it is time you consider filing for bankruptcy. Individuals who are in debt and the ones who are experiencing financial crises often fail to realize that filing for bankruptcy may allow them to continue operating their business and keep … Continue reading “Why You Should Hire a Plantation Bankruptcy Lawyer”
Can I ever get a car loan again?
It is relatively easy to qualify for a loan after a bankruptcy. However, if you have no down payment, expect the interest rate to be fairly high, if you’re able to put down a few thousand dollars, it lowers the default risk to the lender and will reduce the interest rate of the loan. If … Continue reading “Can I ever get a car loan again?”
Can I ever get a mortgage again?
You are eligible for an FHA after chapter 7 two years after the discharge. During those 2 years, you must have kept your credit clean and avoid taking on additional debt. If you are considering filing for bankruptcy, I suggest consulting with an experienced bankruptcy attorney.
How will this affect my credit?
A chapter 7 bankruptcy will remain on your credit for 10 years, however it is not 10 years of purgatory. I have many clients who are able to get their credit scores above 700 even with the bankruptcy on their credit report. You can qualify for a car loan immediately after the bankruptcy and for … Continue reading “How will this affect my credit?”
Can I go to jail?
If you intentionally lie on your bankruptcy schedules or during a bankruptcy court hearing you are committing a federal offense and could be charged with a crime whose punishment includes jail time if you are considering filing for bankruptcy, I suggest consulting with an experienced bankruptcy attorney.
Will the trustee take my tax refund?
In a chapter 7, it is possible to have the trustee take your tax, refund, your tax. Refund is an asset. They may not be fully exempt in a Chapter 7, bankruptcy proceeding. However, in Florida, the portion of your tax, refund, that is from earned income. Credit is 100% exempt. If you are considering … Continue reading “Will the trustee take my tax refund?”
Can I give some assets away to friends and family?
Assets transferred to friends or family prior to filing bankruptcy have to be disclosed to the court and can be set aside by a bankruptcy trustee. If the transfers are not disclosed and hidden it can result in denial of the bankruptcy and criminal prosecution. If you are considering filing for bankruptcy, I suggest consulting … Continue reading “Can I give some assets away to friends and family?”
Can I transfer assets prior to filing bankruptcy?
Very often people with non-exempt assets ask if they can sell their assets prior to the bankruptcy. This often does not solve the problem, because the bankruptcy trustee will ask for proof the assets were actually sold and for an accounting of the proceeds. If you are considering filing for bankruptcy, I suggest consulting with … Continue reading “Can I transfer assets prior to filing bankruptcy?”