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Should you file bankruptcy or divorce first?

2017-01-20T00:06:00-05:00

In better times, divorce was about splitting the assets.  I will give my colleague Bill Balena credit for the following regarding bankruptcy and divorce: Divorce is not about splitting assets anymore, it is about splitting debt. I don't see clients arguing over who gets to keep the house, or the car, because there isn't any equity in either anymore (unlike during the real estate boom) or when incomes were higher and everyone owned their cars outright. [...]

Should you file bankruptcy or divorce first?2017-01-20T00:06:00-05:00

Qualifying for Chapter 7 in Orlando, Daytona Beach, Ormond Beach, or Palm Coast

2017-01-20T00:06:00-05:00

Families in Orlando, Daytona Beach, Ormond Beach, and Palm Coast will find it more difficult to qualify for Chapter 7 bankruptcy on November 1, 2011. The State Median Family Income by Family Size for bankruptcy gets updated from time to time. In the past, for the most part, the numbers would go up. But lately, the numbers have been decreasing. In Florida, they income numbers are as follows: Household of 1 = $41,334 Household of 2 = [...]

Qualifying for Chapter 7 in Orlando, Daytona Beach, Ormond Beach, or Palm Coast2017-01-20T00:06:00-05:00

When is the right time to file bankruptcy?

2017-01-20T00:06:00-05:00

The answer for the right time to file bankruptcy is more often now, rather than later. Usually the more common question is should I file bankruptcy with "only" $xx,xxx in credit card debt. That is almost impossible to answer. $5,000 in debt could be a drop in the bucket for some people, but a crushing amount for others. The more important issue may be to time your bankruptcy properly. I have clients who come in [...]

When is the right time to file bankruptcy?2017-01-20T00:06:00-05:00

Can I Go to Jail If I Don’t Pay My Debts?

2017-01-20T00:06:01-05:00

Many people think they can go to jail (debtor's prison) for not paying their debts. This is not true. It is your right to ignore a lawsuit, if you want to – up to a certain point. I don’t think that is a very good strategy, but it is your right. If for whatever reason you don’t want to fight a lawsuit against you, it can be ignored. But a judgment will likely be entered [...]

Can I Go to Jail If I Don’t Pay My Debts?2017-01-20T00:06:01-05:00

New Credit Bureau Policy May Help Repair Your Credit Score

2017-01-20T00:06:01-05:00

A recent Fox 35 Orlando news story shows how Experian's new credit reporting policy can actually help improve one's credit score after losing a home to foreclosure. News that the Experian Credit Agency is the first to count rental histories when calculating one's credit score, is the first solid bit of hope she's had in awhile. The woman featured in the news piece lost her home to foreclosure, rented a similar house literally around the [...]

New Credit Bureau Policy May Help Repair Your Credit Score2017-01-20T00:06:01-05:00