Chapter 7 bankruptcy is the fastest path to a discharge of debt. Chapter 13 bankruptcy generally takes between three and five years to complete before the courts grant a discharge of any debts not resolved during the repayment plan. In Chapter 7 bankruptcy, there is...
Some people refer to Chapter 7 bankruptcy as liquidation bankruptcy. That nickname comes from the obligation to sell off certain assets or liquidate them to repay creditors. Before the filer is eligible for a discharge of the balance that remains on the account, they...
Having someone cosign for a car loan is sometimes the only way people can get one. One example is a young driver having a family member cosign because they have not yet built sufficient credit history to get a loan on their own. Things can happen, however, that make...
Financial hardship can happen quickly due to job loss, medical expenses or unexpected life events. When debt becomes overwhelming, many people look for structured relief options that offer a fresh start. Chapter 7 bankruptcy is one of the most common forms of consumer...
Chapter 7 bankruptcy is one of the fastest and most effective ways to address overwhelming debt. Individuals who qualify for Chapter 7 filings can go from submitting paperwork to the courts to a discharge of eligible debts in a matter of months. Chapter 7 bankruptcy...
When filing for Chapter 7 bankruptcy, you’ll likely go through an evaluation of your finances to determine whether you qualify. This is known as the means test. It works by comparing your income to the median income for a household of your size in your state. The goal...
Filing for Chapter 7 bankruptcy can offer substantial relief from overwhelming debt, but it doesn't eliminate all financial obligations for everyone involved. If someone has co-signed a loan with you, they may still remain financially responsible. Understanding how...
Are you worried that filing for bankruptcy might wipe out your retirement savings? You're not alone. Many people in Florida avoid bankruptcy because they fear losing the money they've saved for their future. But here's some good news: retirement accounts enjoy...
When filing for Chapter 7 bankruptcy in Florida, you must decide between state and federal exemptions to protect your assets. This choice can significantly affect your financial future, so understanding the differences is crucial. Understanding exemptions Exemptions...
When faced with the prospect of filing for Chapter 7 bankruptcy, many Floridians worry that they will lose their assets. The common misconception is that bankruptcy equates to losing everything you own. However, this is not the case. Thanks to bankruptcy exemptions in...
