When to Consider Bankruptcy: Signs You Might Need an Attorney

In the complex landscape of financial management, the decision to file for bankruptcy is never taken lightly. It’s a pivotal moment that signifies not just a challenge in one’s financial journey but also a step towards a fresh start. Recognizing when you’ve reached this point can be difficult, but there are unmistakable signs that suggest it’s time to consult a bankruptcy attorney. 1. Overwhelming Debt That Doesn’t Decrease One of the most apparent indicators that it may be time to consider bankruptcy is when your Read More +

Festive Finances: Celebrating Wisely While Filing for Bankruptcy

The holiday season can be a challenging time for individuals considering bankruptcy. The decision to file for bankruptcy before or after the holidays depends on various factors, including financial circumstances, personal priorities, and the timing of legal processes. 1. Timing Considerations The timing of a bankruptcy filing is crucial, especially during the holiday season when government offices and legal professionals may operate on reduced schedules. This can lead to delays in the bankruptcy process and impact the resolution of financial issues. It is important to Read More +

Will A Personal Swimming Pool Loan Be Included in Bankruptcy?

A bankruptcy lawyer will tell you that individual advances from acquaintances, family members, a bank, or a credit union are liabilities that may be dismissed in insolvency. A dismissal excuses the person borrowing funds from the legitimate responsibility to repay previous liabilities. Some instances of liabilities that may be dismissed include swimming pool loans, charge cards, doctor bills, past due utility bills, returned checks, and court of law costs that aren’t thought to be deceitful. There are 19 types of debt that may not be Read More +

Mortgages, Bankruptcy, and Foreclosure in Tampa

If you are determined to prevent foreclosure on your home, you may decide that filing for bankruptcy is for you. Under both Chapter 7 and Chapter 13 bankruptcy, you are entitled to keep your primary home should you decide to file. Under Chapter 7, you may be required to liquidate your assets. With Chapter 13, you are required to repay a set amount to your bankruptcy trustee each month. If you decide Chapter 13 is the right way to file, you may also be able Read More +

Money Saving Tips

It’s a common misconception that you need everything to be perfectly aligned before you can start saving money, but this is not the case. In fact, if you wait for the “right time,” it’ll never happen. That’s why the best time to start saving money is right now. Fortunately, there are a lot of straightforward strategies that you can use to save money. Here are some that you may not have even thought of before. Cut down on your grocery budget.After you put together your Read More +

Why DIY Bankruptcy is A Bad Idea

Bankruptcy is a complex legal process that has a lot of laws and procedures that may feel overwhelming if you aren’t properly trained to deal with them. Nevertheless, some people are still choosing to file for bankruptcy without help from a lawyer. This is known as “pro se” or DIY bankruptcy. While a DIY bankruptcy may appear to be a great option (especially if you want to save money by not paying for a bankruptcy attorney in Tampa), you need to understand the risk you’re Read More +

A Short History of Bankruptcy

The etymology of the term “bankruptcy” is commonly believed to derive from a combination of two Latin words: “bancus” (table or bench) and “ruptus” (broken). The theory suggests that a public banker, upon failing to meet financial obligations, would have his bench—where transactions took place—broken as a symbol of his inability to negotiate and fiscal failure. This practice was widespread in Medieval Italy, leading many to attribute the term “bankrupt” to the Italian phrase “banco rotto,” translating to “broken bank.” Alternatively, some attribute the origin Read More +

How to Deal with Bankruptcy

Experiencing bankruptcy is typically a substantial financial hurdle, profoundly impacting the lives of those who go through it. You and your family may be going through this difficult experience and trying to find coping strategies and ways to make it more manageable. While there are often things that could have prevented bankruptcy, this is not always the case, and there are various external factors that often come into play. Whatever the circumstances, dealing with bankruptcy and its challenges can be difficult, and there are various Read More +

Tampa Bankruptcy Court Decision on Discharge of Construction Contractor Debt to Customer

The Bankruptcy Court in Tampa rendered an important decision on whether a contractor employed to perform construction or repair services to a customer could Discharge such debt in Bankruptcy. In the case of Hollman v Morales (In re Morales) an individual hired the debtor, a handyman, to conduct repairs on his mobile home. The customer paid $25,000 for such services to be performed. Evidently, such services were not fully performed, and the handyman, and subsequently, the debtor, in the Bankruptcy, argued that the mobile home Read More +

Tampa Bankruptcy Court Decision Relating to Tax Refunds

A Bankruptcy Judge in Tampa delivered an important decision regarding tax refunds in Bankruptcy. On July 20, 2022, Bankruptcy Judge CJ Delano rendered a decision regarding whether a debtor may retain a portion of a tax refund received in the amount of $5,500. The debtor claimed $3,750 of such refund as exempt. The debtor’s argument was that portion of the refund should be exempt because it represented monies that the debtor withheld from his social security benefits. Social security benefits are exempt from levy, attachment, Read More +