Can I file for bankruptcy if I don't have much debt?
Yes, there is no threshold amount of debt required to file bankruptcy. Every debtor's financial situation is different.
How do I know which bankruptcy chapter to file?
There are two chapters for people to file: 7 or 13. You can learn which chapter works more for you by consulting with an attorney.
How often can I file for bankruptcy?
If you receive a discharge for a Chapter 7, you must wait 8 years in between filings. If you received a discharge in Chapter 13, the timelines depend on which chapter you need to file now.
Can I file for bankruptcy on some of the accounts I owe, or do I have to include all of them?
As of today, all accounts must be included. If the debt is a secured debt, such as a home or a car, you can attempt to reaffirm the debt. Unsecured debts must be included and will be discharged.
Can I eliminate all of my debts by discharging them in bankruptcy?
You can eliminate all debts that are dischargeable. Examples of dischargeable debts include: credit card debt, medical debt, repossessions, foreclosures, personal loans, etc. Debts that are generally not dischargeable include: student loans, certain taxes, child support, alimony and debts related to criminal activity.
Can I wipe out all of my debts after bankruptcy?
You can wipe out all dischargeable debts after bankruptcy.
If I file for bankruptcy, will the cosigner of my loan still have to pay?
Unfortunately, your co-signer is still liable for the debt if you file bankruptcy.
What are the differences between secured and unsecured debt?
Examples of secured debts include homes and vehicles. They have liens against them that must be paid in full before title/deed can be passed to the owner. Unsecured debts are not encumbered by any liens. Cred it card debt is the biggest example.
Can I file for bankruptcy and stop a lawsuit or wipe out a money judgement against me?
Yes, your bankruptcy filing will stop any lawsuit that is currently in progress. If you have a judgment against you, the debt owed from the judgment will be discharged. Please consult an attorney on whether there are any extra steps needed to remove judgment liens.
What property can I keep, if anything, if I file for bankruptcy?
Your ability to keep your property(personal and real) depends on the exemptions you qualify for. Most people can keep their homes, cars, and normal household belongings. Please consult an attorney to learn more about what would be exempt.
Can I keep my home if I file for bankruptcy?
Yes, most people can keep their homes when filing bankruptcy. In the state of Florida the Homestead Exemption can normally be applied to protect your home.
Can I keep my retirement account or Social Security payment if I file for bankruptcy?
Yes, your retirement accounts and social security benefits are normally safe in a bankruptcy.
Can I file for bankruptcy and keep my inheritance?
If you stand to inherit something and know of that when you file, you must disclose your potential inheritance and it could become property of the bankruptcy estate.
What is an uncontested divorce?
An uncontested divorce occurs when two parties agree to the terms of their divorce without having to go through litigation or other normal litigation procedures.
What are typical procedures for a divorce case?
Every county has different rules for the required paperwork that must be filled out prior to your final hearing.
How long to divorce cases typically take?
An uncontested divorce should not take more than 2-4 months.
When should I make a will?
There is no bad time to make a will. If you are concerned about what will happen to your family and assets upon your death you should have a will.