Chapter 7 bankruptcy is a liquidation proceeding. The Debtor turns over all non-exempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors.

How Chapter 7 Bankruptcy Works

In Chapter 7 bankruptcy, you provide the court a list of all of your debts and a list of everything you own. You also answer questions about your past financial dealings. You can claim as exempt the property you are allowed by law. This property you may keep. The trustee has the right to liquidate any property that cannot be claimed as exempt and then apply the cash to your debts.

The only restriction on keeping exempt property is that you still must pay purchase-money liens, the liens placed on property you buy. For example, if you plan to keep your car or house, you are still required to make the regular contractual payments to the creditor.

The Most Common Reasons for Consumer Bankruptcy

• Unemployment
• Large medical expenses
• Seriously over extended credit
• Marital problems
• Large unexpected expenses

Chapter 13 Bankruptcy

A chapter 13 bankruptcy gives you the chance to reduce the amount you pay on debts, allowing you to keep your property you otherwise might not be able to afford to keep, and it protects you from your creditors. Debtors facing home foreclosure or interest accruing on back tax debt would benefit from filing a Chapter 13 bankruptcy.

A Debtor must meet certain qualifications in order to file a Chapter 13 bankruptcy. You must have stable and regular income. Your income must be high enough so that after you pay for your basic human needs, you are likely to have money left over to make periodic (usually monthly) payments to the bankruptcy court for three to five years. In addition, your debts must not be too high. There are limitations on how much secured as well as unsecured debt you are allowed to claim on a Chapter 13 bankruptcy.

What is a Bankruptcy Discharge and How Does It Work?

One of the reasons people file bankruptcy is to get a “discharge” of their debt. A discharge is a Court order, which states you are no longer obligated to pay the discharged debt back. Some debts cannot be discharged. For example, you cannot discharge debts for:

• Most taxes
• Child support
• Alimony
• Most Student loans
• Court fines and criminal restitutions; and
• Personal injury caused by driving drunk or under the influence of drugs.

The discharge only applies to debts that arose before the date you filed. If the Judge finds that you received money or property by fraud, that debt may not be discharged.

The Judge can also deny your discharge if something dishonest has been done in connection with your bankruptcy case, such as destroying or hiding property, falsifying records, lying or ignoring a Court Order.

If you’re looking for a Sarasota bankruptcy lawyer to fight for you, contact us today.

NOTE: The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.

Penalties

North Carolina has varied levels of punishment for DWI convictions. The level that is applied to the offender is based on mitigating and aggravating factors. If there are no mitigating or aggravating factors then the offender faces Level Four penalties. The penalties then go up or down from Level Four based on the mitigating or aggravating factors.

• A Level One offender faces 30 days to 24 months in jail and fines up to $4,000
• A Level Two offender faces 7 days to 12 months in jail and fines up to $2,000
• A Level Three offender faces 72 hours to 6 months in jail and fines up to $1,000
• A Level Four offender faces 48 hours to 120 day in jail and fines up to $500
• A Level Five offender faces 24 hours to 60 days in jail and fines up to $200

Grossly Aggravating Factors

Grossly aggravating factors include:

• A child under the age of 16 was in the vehicle at the time of arrest
• Serious injury was caused to another person because of the impairment
• There was a previous DWI conviction within the last 7 years
• The offender’s driver’s license was revoked for a previous DWI at the time of the arrest

If two or more grossly aggravating factors apply then the judge will impose a Level One penalty. If one grossly aggravating factor applies then the judge will impose a Level Two penalty.

Mitigating and Aggravating Factors

Mitigating factors include:

• BAC of 0.09% or less
• A safe driving record
• The offender voluntarily enters a mental health facility and follows any recommended treatment plans following their arrest for DWI

Aggravating factors include:

• BAC of 0.16% or more at the time of arrest
• Reckless or dangerous driving at the time of arrest
• Causing an accident while impaired
• Driving with a revoked license when arrested
• Speeding or trying to flee at the time of arrest

If the aggravating factors outweigh the mitigating factors then the offender will be face Level Three penalties. If there are no mitigating or aggravating factors, or the mitigating factors substantially balance out the aggravating factors then the offender will face Level Four penalties. If the mitigating factors outweigh the aggravating factors then the offender will face Level Five penalties.

North Carolina is known for its tough DWI laws. North Carolina was the state that started the “Booze It and Lose It” campaign that many other states have since modeled their own anti-drinking and driving campaigns after.

This article is for informational purposes and does not constitute legal advice. Please contact an attorney in your local area for more information about North Carolina DWI Law.

Supporting Legal Site: North Carolina DWI Attorney Michael Driver. Serving all of North Carolina.

Once someone has been convicted of a DUI or DWI charge, getting or even keeping their current car insurance can become an obstacle. Many large insurance companies will cancel an existing car insurance policy once they find out there is a DUI/DWI conviction. Other companies may just raise the insurance rates by a large amount.

After a DUI Arrest But Before a DUI Conviction

If a driver has been arrested for a DUI but has not yet been convicted, they are not legally bound to inform their car insurance company. If you are facing a DUI charge, asking your insurance company how a DUI will affect your premiums will likely result in an immediate rate hike or cancellation of your policy.

SR-22

Many states require drivers convicted of a DUI/DWI to provide their Department of Motor Vehicles with an SR-22 Proof of Insurance Certificate in order to remove a license suspension. Just asking for the SR-22 will alert the car insurer that the insured is a high-risk driver. In addition, many companies do not have SR-22 insurance policies and the insured will have to find a new insurance company. There are car insurance companies that specialize in covering high-risk drivers, but for much higher premiums.

Some states even require people that don’t own a car to carry an SR-22 policy. It certifies that a driver has the ability to be financially responsible for any future claims. A non-owner’s SR-22 policy would provide liability coverage for a driver that doesn’t own a vehicle. A non-owner’s SR-22 policy does not cover a car that is borrowed by the insured, only any liability the driver might cause, such as injuries suffered by others if the insured causes an accident.

Expungement

Depending on which state you live in, a DUI violation will remain on your driving record anywhere from 5 years to the rest of your life. If you are able to get your DUI expunged from your record you could once again get regular car insurance without the higher rates high-risk drivers must pay.

This article is for informational purposes and does not constitute legal advice. Please contact an attorney in your local area for more information about DUI/DWI Law.

Additional Legal Information Site: Driver Law Firm. Serving clients throughout North Carolina.

A person who is found negligent in a car accident will be determined to be at fault for the accident. The negligent driver and their insurance company will be responsible for the damages and injuries caused by the negligence. In some cases, where both drivers are determined to be partially negligent, the percentage of responsibility will need to be determined to figure out what portion of damages will be paid by each driver and their respective insurance company.

Driver Error

Driver error is responsible for the majority of car accidents. Some common causes of driver error include fatigue and other distractions such as:

• Cell phones
• Eating
• Playing with the stereo, GPS or other gadget
• Reading
• Applying makeup

Intentional Driver Negligence

While some accidents truly are accidental, some are caused by the reckless behavior of drivers on the road. Some examples are:

• Intoxication (alcohol, illegal substances or even prescription drugs)
• Speeding
• Tailgating
• Vehicles racing other vehicles
• Running a stop sign or red light
• Passing or driving on the shoulder of the road

Rear-End and Left-Turn Collisions

There are some examples where the fault of the accident is generally cut and dry. These include rear-end collisions and left-turn collisions.

In a rear-end collision it is almost always the fault of the rear driver. Even if road conditions contributed to the accident by way of making it impossible for the rear driver to stop in time, it is still the rear driver’s fault. All drivers should be aware of how the road conditions relate to their stopping distance. In the case where a driver is hit from behind by another driver and is pushed into the vehicle in front of it, the rear-most driver would be at fault.

Left-turn collisions are another example where it’s almost always the fault of the driver making the left hand turn. The only real exception is when the left turning driver started to turn at a safe time but something unexpected happened, like the vehicle stalled, to not allow them to complete their turn safely.

Whether an accident is caused by driver error or reckless behavior, the percentage of fault needs to be determined in order to establish who is responsible for the injuries and damages.

This article is for informational purposes and does not constitute legal advice. Please contact an attorney in your local area for more information about car accidents.

Additional Legal Tools: Visit the law offices of Elan Wurtzel for more information on car accidents.

Many people do not realize that their health insurance company will often try to be reimbursed for what they have paid on their behalf.  People usually don’t know how much of any type of insurance they should have.  It is always ill explained.

Insurance policies are extremely complicated, along with the laws that pertain to them.  Insurance litigation is used to resolve insurance claim cases.  Never wait for an insurance company to help you.  You will have little success or have to settle for far less than you deserve.

You need an attorney who is knowledgeable in the area of insurance defense law.  This will help them build a case based on what the defense is going to try to do.  They will help you receive compensation that may be taken away if you do not consult an attorney.

Your insurance company will do whatever they have to in order to prove that you had some fault in your situation.  They will also try to rush the proceedings so that they have the advantage.  The less amount of time you and your attorney have the less time you have to collect evidence and continue building your case.  Litigation attorneys know how to push the insurance defense laws on the plaintiff.  It is critical to your success to have an attorney represent you.  If you go at the insurance companies personally, you will never get the settlement you deserve.

Most people feel that they are secure because they have insurance. What they don’t realize, is that the insurance companies are not out for their best interest when something does happen.  They are looking out for their interest and making sure that they can gain profit.

Never withhold information from your attorney or insurance companies. In the end, it will come back to work against you. Your insurance company will dig through records of every kind to discredit you in any way. The more honest you are, the less they have to work with.

You need to understand how the world of insurance really works.  This is when you will realize that you can’t do this on your own.  You need an attorney who is not afraid to go up against the big insurance companies.  They need to know the insurance defense laws inside and out. This will help them prepare a solid case based around what the defense will have in store.

There are many insurance claims filed every year.  Insurance companies are used to battling it out with their prosecutors.  They know that you are the disadvantaged one.  Your attorney needs to be very skilled.  It isn’t everyday that you are fighting for your rights in a courtroom.

This is not legal advice.

Resource Tools: The Attorneys at Snyder Law Group. Representing clients in Bradenton, FL.

The Chapter 7 Bankruptcy

In its basic meaning, a Chapter 7 bankruptcy is a complete write off.  This means that all of your debt is released through liquidation.  Under this chapter, you surrender all of your property that is non-exempt.  Non-exempt property is the things that are included in your filing, like a car loan or home loan as well as credit cards and other secured and non-secured debt.  This property is then liquidated into cash that is sent to the companies that you owe money to.  Within four months from your bankruptcy hearing, you are free – or discharged – from the debt.  The whole purpose of a Chapter 7 filing is to provide you with a fresh start, with nothing on your credit except the bankruptcy.

The Chapter 13 Bankruptcy

A Chapter 13 bankruptcy is different from a Chapter 7 bankruptcy.  In the Chapter 13, you are simply reorganizing your debts.  This type of bankruptcy is often described as being similar to a consolidation.  Here, you are agreeing to repay your debts over a certain period of time, usually between 3 and 5 years.  If you have property that you want to keep, like your car or your home, this is the bankruptcy that you should choose.  It is commonly chosen for people who are trying to avoid repossession or foreclosure.

Additional Information

There are new changes to the bankruptcy laws that have left many people thinking that any type of bankruptcy is not within their reach and they are stuck with their debt without a way out.  This is far from the truth.  Yes, it is true that there are more conditions to receiving your bankruptcy.  This should not dissuade you from filing if you need the help.  The changes that have been made are small, and merely in place to keep bankruptcy and credit abusers at bay.  For example, there is a requirement now that you must meet with an approved credit counselor before you can be granted a bankruptcy.

You should also know that a bankruptcy is reported on your credit for 10 years.  This does not mean that you will not have access to credit.  In fact, most creditors are eager to present credit to people who have filed bankruptcy because they have a clean record and no debt liabilities.  It is even possible to qualify for major loans, like mortgages, as soon as two years after you have filed bankruptcy.

There is a lot more information available about bankruptcy.  You should do your research thoroughly so that you have a better idea of what is best for you.  If you are in doubt, you should seek the aid of a bankruptcy lawyer.  Many will offer free consultations so that they can answer any questions that you might have and help you with your decisions.

Related Websites:

Click here for a Planeview (Long Island) Attorney for Divorce and Family Law – Elan Wurtzel

Click here for a Sarasota Attorney for Divorce and Family Law – Gary Jodat

Chapter 13 bankruptcy only requires that the debtor has to repay some, not all, of his/her debts. After all, if the debtor could afford the full repayment they generally would not be filing bankruptcy anyway, right?  The Chapter 13 petition is practically the same as the Chapter 7 except that it is a debt adjustment for those with a standard income.

To qualify, the debtor’s unsecured debt cannot exceed $269,250 and the debtor’s secured debts must be smaller than the amount of $807,750 and the plan is set for between 3-5 years. Also, the trustee’s job is easier since he/she must only collect the payments and disburse them to the creditors. The debtors negative accounts are discharged (the court releases a written statement to debtor stating that his/her debts have been fulfilled) and he/she can begin rebuilding their credit.

To sum it up, the pros seem clear. However, as with anything there are cons and the debtor has to correctly evaluate his/her position and choose what’s best for them. As for credit, sure bankruptcy has a negative effect but in today’s society car dealers offer loans and assistance to those with bankruptcies. Not to mention secured credit cards! The road to financial recovery is a very attainable goal after bankruptcy and should not be regarded as financial death but a new and reformed financial security!

To begin the process the debtor has to go to court and file a petition, which is a formal written request. This request includes, the details of your finances (assets, income and debts) along with the list of assets being claimed as exempt from liquidation (assets such as automotive equity, disability payments and basic furniture and/or furnishings).

A court appointed trustee (a legal person who commits to the administering of the property within the filing) is assigned to the filing.  The trustee’s job is to review your filing, orchestrate the meeting with your creditors, review your eligibility for discharge, sell the assets proven to be non-exempt and finally to get the proceeds of the sale to the creditors.

The court procedures can take between 3 to 4 months and means that only certain assets can be claimed as exempt excluding real estate.

The basic knowledge received or assumed about bankruptcy is that the debtor loses everything or that the debtor’s credit is forever tarnished. These are MYTHS.

Truth: Bankruptcy can allow the debtor to protect his/her assets.

Truth: The debtor faces a low credit rating by filing, but can and must begin rebuilding a positive credit rating during or after the bankruptcy process.