Our Experienced Florida Bankruptcy Lawyers Can Lead You to Financial Freedom
Ellenton is one of the smallest communities in Manatee County, Florida – and one of its most charming. The Gamble Plantation Mansion, for instance, stands out as an important historical landmark with roots deep in Ellenton's history. If you are beset with debt problems, however, you are likely to be far more concerned with the present and the future rather than with the past.
The Debt Trap
Crushing debt can work something like a black hole – it sucks you in and doesn't want to let you out. Two ingredients typically form this noxious brew: high interest rates, and minimum payments. In effect, it works something like owing money to a loan shark. You never get caught up, but instead, keep falling further and further behind.
Bankruptcy laws were designed to carve a path out of the debt trap. Although bankruptcy is not for everyone, the bankruptcy system does confer two distinct advantages: an automatic stay as soon as your petition is accepted (which paralyzes your creditors), and a permanent debt discharge once you complete the terms of the bankruptcy.
“But I can't afford to file for bankruptcy!”
You might be surprised. Of course, we do realize that other local firms offer payment plans that look like a layaway plan at a department store. They won't file your petition until you have completed paying your legal fees. This, of course, defeats your purpose since a lack of money is why you came to see a bankruptcy lawyer in the first place. At David Holland Law, it's different; we can file your case for as little as zero money down.
“Very informative with my questions and concerns. Have used his services and would highly recommend him.” – Toni
Frequently Asked Questions (FAQs)
What's the difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy?
In a Chapter 7 bankruptcy, the trustee sells all of your assets except those covered by exemptions (your personal residence may be spared, for instance). The proceeds are from this sale are used to pay your creditors, and your remaining debt is discharged.
In a Chapter 13 bankruptcy, you are granted more favorable repayment terms but are expected to pay your debts within three to five years. Any debt remaining after you complete your repayment plan is discharged, and you can keep your property.
How can I keep my car?
Although we cannot make a guarantee, in many cases, it is possible to keep your car despite undergoing a bankruptcy, especially if you file under Chapter 13 and you can demonstrate that you need your car for business reasons. You may even keep your car under Chapter 7. However, a lot depends on where you live, your payment history and loan status, and how much equity you have in your car.
Will filing for bankruptcy stop my bill collectors from trying to contact me?
Yes. When you file for bankruptcy, the court will issue an automatic stay that prevents your creditors from taking any action against you, including calling you. Certain exceptions exist, however. You remain liable for child support payments, for example, and you can still be pursued for certain other debts that cannot be discharged in bankruptcy.
How often can I file for bankruptcy?
You can file for bankruptcy as often as you like, but you can only receive a discharge once every few years. The following are the specific time limits:
- Chapter 7, then Chapter 7: Eight years
- Chapter 13, then Chapter 13: Two years
- Chapter 7, then Chapter 13: Four years
- Chapter 13, then Chapter 7: Six years
Certain exceptions exist that could work in your favor. The limitations might not apply if your first bankruptcy filing was dismissed or denied, for example.
We've Got Your Back
Naturally, before you decide on such a decisive step as filing for bankruptcy, you are going to need to consider options short of bankruptcy. That's OK, because we have been helping clients explore these types of options for many years now. If you do decide to go ahead and file for bankruptcy, we are available to offer you post-discharge support until your financial recovery is complete.
If you are considering filing for bankruptcy, contact David Holland Law today by calling (941)-744-5450 or filling out our online case evaluation form to speak with an experienced bankruptcy attorney. We provide free telephone or in-office consultations where you can describe your difficulties and we can answer your questions. We serve clients in Town Center, Erie Rd., and 69th St., among other areas.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.