Monthly Archives: February 2021
Florida’s Head of Household Exemption Can Help You in Bankruptcy
You are filing for bankruptcy, and when you do, you have some money in the bank. Not a lot—the money only represents what is left of perhaps the last few paychecks. Certainly, Florida’s bankruptcy exemptions allow you to exempt or protect between $1,000 – $4,000 of personal property. But is there another way to… Read More »
Help! I’m Getting Sued on a Credit Card Debt!
Getting sued for any reason can be scary. Thankfully most people won’t get sued in their lifetimes, but for people who owe money, the chances of a creditor’s lawsuit are significant. If you are sued, should you fight it or defend against the lawsuit? Should you get an attorney? Getting Served We’re talking here… Read More »
Bankruptcy Discharges Are Not Taxable by the IRS
One question we often hear is why file for bankruptcy if there is a chance that you can negotiate with your creditors to reduce or even eliminate debt on your own? Although the chances of getting a creditor to completely wipe out debt without making any payment is possible, and sometimes creditors will spontaneously… Read More »
What is a 341 Meeting?
In most bankruptcy cases, there are few if any hearings, few if any depositions and the process for you the consumer is relatively hassle free. However, there is one meeting that almost every consumer will have to attend if they want to obtain their bankruptcy discharge: The 341 meeting of creditors, often simply known… Read More »
Bankruptcy isn’t so Bad for Your Creditors, or the Economy
Many people feel bad, or guilty about filing for bankruptcy. They may feel like they are cheating the system, or cheating their creditors. However, bankruptcy is actually a fair process, designed to help both the debtor and the creditor. And while they may not admit it, directly or indirectly, bankruptcy can actually help your… Read More »
All About the Chapter 7 Bankruptcy Means Test
It used to be the case that almost anyone could file for Chapter 7 bankruptcy. However, that changed about 10-15 years ago, with the institution of what is known as the Means Test. The means test is a test of a debtor’s income to make sure that the debtor does not make too much… Read More »
What is the Automatic Stay?
One of the biggest benefits of filing for bankruptcy is the automatic stay. The automatic stay can give you temporary relief from creditors and collections, give you the time you need to get your affairs in order, and to get your bankruptcy discharge. What is the Automatic Stay? When you file for bankruptcy, all… Read More »
Exemptions You May Not Have Known Existed
If you are filing for bankruptcy, you may be aware that exemptions will protect some of your property from being taken by the bankruptcy court. In fact, for most debtors, these exemptions will ensure that none of their property is ever taken by the bankruptcy court. Some of these exemptions are well known, and… Read More »
Debt Collection: Don’t Get Scammed
If you are in debt, bankruptcy can be a good solution for you. But how in debt are you? Do you really owe what that creditor is saying you owe? Unfortunately, because of the rise of so many debt collection telemarketing scammers, many people are bombarded with scams or fake threats for money that… Read More »
Exempting Florida Annuities
Annuities can be a good, safe way to keep money for the long term, such as for retirement, because Florida, like many states, exempts annuities from ever being taken by the trustee. However, problems with bankruptcy protection can arise when annuities are transferred, or the benefits are paid to someone other than the policyholder…. Read More »
