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Searching for a Tampa Bankrputcy Lawyer?

If you are searching around for bankruptcy lawyers you may not know what to look for. Sometimes situations occur and you have no other choice than to file for bankruptcy. It is something which will stick on your record for a few years so make sure you have no further options before you file for bankruptcy. Bankruptcy can give you a fresh start but only if you take it seriously. Don’t expect bankruptcy to be available every time you get behind.

It is not as easy as some may make it seem when you are looking for someone experienced in your specific bankruptcy case. You have to make sure they are fully aware of the bankruptcy laws and will make your statement true to a “T” and nothing is irrelevant. Remember that bankruptcy is not an easy escape. Many people think that this is a way to get out of paying the government.

Check the Lawyers Background

Always make sure to look into the background of the lawyers you are seeking for bankruptcy to make sure they have a great reputation and also know the rules and have a great record with the bankruptcy judges. As we all know honesty is the best policy and this also means the lawyer you choose needs to practice this as well. If you find a lawyer and you aren’t comfortable with him/her don’t waste time hoping it will get better. Keep shopping around and you’ll find one you are confident in and you know will do a great job with your case.

The Price for a Good Lawyer

Looking for a bankruptcy lawyer who is excellent in his/her services may cost you more than you assumed. Just remember you want someone who has been in these situations before and has worked in this department for a few years. You don’t want someone just starting out. You want them to have plenty of knowledge of bankruptcy to help you out and make it go smooth for you in this rough time. If you see you are paying too little for an attorney, he/she may not do a great job with your situation and/or may not have as much experience that you would like them to have.

Ask Around

Always check around with friends and family to see if they have had encountered a situation like yours and if so who they used as a lawyer. Always make sure the lawyer you choose will fit your specific needs and help you out as much as possible in your bankruptcy situation. You also could call the lawyers offices and ask for references from other clients to get a feel for that specific lawyer. They’ll be able to let you know about his/her trustworthiness and skills. You defiantly want to make sure that your lawyer you are seeking doesn’t represent any of your competitors. This may be a conflict you want to avoid. And just remember; don’t go with your first instinct or lawyer you see. Call around for brochures on their business and promotional materials that the firm has to offer.

The Pros and Cons of filing Bankruptcy

Filing for bankruptcy can be very nerve racking and also may scare you a bit. There is a downside to filing for bankruptcy. Your credit record isn’t very high nor is your score. You may not be able to purchase a mortgage right after and you may feel that the world is against you. But don’t stress yourself out there are some benefits to filing.

Bankruptcy is for individuals which have tried everything but can’t catch up on their bills and finally realize they are too far into debt to see a way out. Bankruptcy can fully cover or partially cover all the debt you have encountered in the past few months or years. There are two basic purposes when filing; Trying to give your life a fresh start with a clean slate to work with and also to give the creditors a fair share of the money they are owed in a way which you can afford. You also have to be aware that payments like child support, court fines, debt incurred by fraud, and student loans won’t be covered when you file for bankruptcy. You also have to make sure that you don’t make over $43,000 gross a year to file.

There are several benefits to filing for bankruptcy. You no longer will receive the collection notices since filing for bankruptcy stops the process. If you are able to keep up on your payments for your mortgage and your utilities you’ll be able to catch up on those bills. You no longer will have to be scared of your house being foreclosed nor items you own being repossessed by businesses and companies you owe money to. And many times creditors will try to tack on fees which you do not owe them while you are in debt. Once you file for bankruptcy you can dispute all these false claims from them and you won’t owe them more than you needed to. And of course one big step will be clearing your head of all the stress and hassle you faced when you were in debt. Having to figure out which bills to pay this week and what to hold off on can always drive you crazy.

Being in debt isn’t a fun situation for anyone to be in. No one understands that it can happen to anyone at any time. Credit cards are one major problem these days especially with the younger generation. They don’t understand that credit cards place a large interest rate on the balance and you usually are paying well over a few hundred bucks back to them which you didn’t necessarily have to pay. If you could just save a few bucks until you reach your goal for what you want, you’ll realize that credit cards aren’t anything but a dark cloud over your head trying to get you to use it. Saving up and paying cash is way cheaper in the long run than using a credit card.

How to File for Bankruptcy

When you file for bankruptcy it depends on which chapter of bankruptcy you will file to help determine what you keep. There are different advantages to both chapter 7 and chapter 13 for an individual just as there are unfortunately disadvantages to both of them too.

Chapter 7

With a Chapter 7 bankruptcy you will need to qualify. There are certain things that a bankruptcy lawyer can tell you about. That’s why when you think about going and filing any type of bankruptcy you should contact an attorney. A chapter 7 will allow you to have credit card and medical bills discharged; basically it’s a way to get a clean start. But with this type of bankruptcy it will also have you in jeopardy of losing some assets that you have. Like a house or vehicles you can only claim certain things as exempt and thus they will not be able to be liquidated.

Chapter 13

A Chapter 13 has some things that are actually helpful. The best feature of this type of bankruptcy is that you can stop a foreclosure on your home. Yes as soon as the petition is filed in the courts they foreclosure will be halted. This will give you a perfect opportunity to save your home. But with a chapter 13 you will not have your bills discharged you will have to make a payment plan or debt repayment plan. Although the amount that you will pay is around 50% of what was due.

Payment Plan

The repayment plan that you make with a chapter 13 will be done with the help of a credit counselor. It is required by law to meet with a credit counselor and make a debt repayment plan. You will also need to provide the courts with how you will be able to repay the debts you have. So you can see why when you set up this repayment plan that you should consider it all very carefully. If you are not able to make these payments you will be in default.

The Right Attorney

You need to make sure that you find the right attorney to help you out. Get one who you feel at ease with and someone who has a lot of experience. This is very important because the attorney will be the one who will help you keep as much of your stuff as possible. This is a very big deal because the bankruptcy will show on your record for 7 years and that makes it very hard to get approved for any kind of loan.

Filing Fees

For a chapter 7 the filing fees are around $299, while a chapter 13 will run you $279. You should ask the attorney you decide to hire whether these fees are include in their costs. Most attorneys will do this because they are the ones who will be filing the petition for you. Also make sure that you ask if they will accept payment for their fees. When you don’t have money this can be a very important thing to know.

How Bankruptcy Affects Your Family

When you file for bankruptcy it will affect your family in certain ways. If you have kids they may even feel the affects of your bankruptcy. Outside family members like your parents, cousins, brothers and sisters, they probably won’t be affected much if at all.

The Kids

If you have kids, depending on their ages it will affect them differently. They may be young enough to not even realize what’s going on. But if they are teenagers they will notice the stress that mom and dad are going through. It may affect how they do in school; they may feel your stress and not study as well. Or it may just make them moody, with not as much money to spend you may need to cut back on their allowance. If they aren’t getting as much money as they once did they will most likely complain quite a bit. Or if you’re lucky enough they will understand what you’re going through and try to help you out as much as possible.

Spouse

The bankruptcy will be tough on both you and your spouse. You will have to cut back on those extra expenditures. Of course if you’ve been having money problems for a while you may have already done this. Depending on which type of bankruptcy you decide on, you will have to set up a payment plan one that you will be able to pay. If you’re filing a chapter 7 your bills or most of them should be discharged but you may have to adjust back to only having one vehicle and possibly take the chance if you may lose your house if you own it. If you’re renting you should be fine but a vehicle may still be taken away unless you have claimed it exempt.

Others

If your not very old when you file for bankruptcy your parents may be affected by the filing. You may borrow money from them or other relatives to help you file. Than you will owe them money and if they really didn’t have the money to loan you it can leave them short and struggling. The same with any other relatives you may want to borrow from. Or there may be hard feelings if they refuse to loan you money when you know they have it. Borrowing from relatives and friends is not an easy process; at times it may drive friends and family apart.

Finally

If at all possible you should try to avoid borrowing money especially if you may not have any way available to pay it back to the people you have borrowed from. People are only patient for so long before they begin getting upset that you haven’t paid them back. It really takes a special person to be able to borrow money from and then not get angry. So make sure that if you absolutely have to borrow that you ask someone who has enough that they won’t worry about being paid back for a bit, just in case your not able too.

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