Advice Negotiating with Credit Card Companies From A Bankruptcy Attorney

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Did you know that the average credit card balance in the U.S. is over $5,000? It’s no wonder why many individuals seek advice from a bankruptcy attorney to help them manage their finances. If you’re in a similar situation, negotiating with your charge card company is one way to get ahead. It’s important to know that continuous use of charge cards can easily spiral out of control. Before you know it, you may struggle to afford credit card payments or end up using your card Read More +

Strategies to Manage Financial Stress

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In today’s world, money is important, and many people in Clearwater and beyond are stressed about their finances. In fact, around the world, money and financial resources are some of the common reasons for high-stress levels. It can often feel like an unhealthy bank account naturally creates other health problems, such as anxiety, depression, and unmanageable stress. If you’re worried about money and want to find new ways to manage your financial stress, here are some of the strategies to consider. Create a Plan You Read More +

How to Manage Your Mental Health When Filing Bankruptcy

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While money can’t buy happiness, it can make you feel sad, embarrassed, fearful, and stressed. These emotions may cause you to put off filing bankruptcy, but instead of letting your emotions stop you, remind them that this is a financial strategy that’ll give you a fresh start. Albeit, it’ll take time, and you’ll need to manage your mental health during this time. There are some things you can do to deal with it in a healthy way. Acknowledge the reality of your situation and how Read More +

Step-by-step How to File for Bankruptcy

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The U.S. Bankruptcy Code is a federal statute governing filing bankruptcy. This is done to ensure that the process is similar in the nation’s 90 federal bankruptcy courts. However, local variations and the uniqueness of each case still make this only a general outline which is why you should really hire a bankruptcy attorney. Nevertheless, here’s an outline of the process steps. Choose Which Type of Bankruptcy to File For There are a few different types of bankruptcy that you can apply for, each of Read More +

Common Myths Recurring Bankruptcy and Your Credit

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Your credit score will take a major hit, plummeting over 200 points, when you file for bankruptcy. However, if you have a lot of financial debt, bankruptcy may be the best way for you to liquidate your assets, discard or pay any debts, and get some financial relief. Therefore, when considering bankruptcy, you’ll want to know the truth about it before filing. Negative Information on Your Credit Report While some people will try to tell you that having negative information on your credit report before Read More +

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

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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

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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 +

Tampa Bankruptcy Court Important Decision Regarding Discharge of Income Tax Debt

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A Bankruptcy Judge in the Tampa Bankruptcy Court delivered an important decision regarding the Discharge of Income Tax Debt in Bankruptcy on August 23, 2022. The debtor filed what is referred to as an adversary proceeding seeking to Discharge numerous hundreds of thousands of dollars in tax debts. The Internal Revenue Service responded and argued that such debt should not be discharged pursuant to Bankruptcy Code 523(1)(C) based upon the premise that the debtor had willfully attempted to evade the payment of such taxes. Bankruptcy Read More +

Introducing Your Chapter 13 Bankruptcy Trustee’s Role

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Undergoing a Chapter 13 bankruptcy is both stressful and time-consuming. You feel as though your life is in the court’s hands as they determine your disposable income and decide upon an amount that’ll be used towards repaying your debts over the next 3 to 5 years. They’re also the ones who will determine whether you can take out any more significant debt during this time. To help oversee these things, as well as others, you have a Trustee appointed to your case. What Your Chapter Read More +

What It Means to File Bankruptcy on A Car Loan

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There are a lot of people who mistakenly believe that if they file for bankruptcy, they’ll wipe out their car loan and still keep their vehicle. Unfortunately, this isn’t true. While bankruptcy unwinds your obligation to pay back your car loan, you still need to make payments if you want to keep your vehicle. Here are the answers to a few other common questions regarding this subject. How does bankruptcy work regarding my vehicle? When you file for bankruptcy, the contract that requires you to Read More +