We Help Debtors Fight Their Way Out of the Debt Trap
Englewood, Florida, straddles Sarasota County and Charlotte County, and it is home to quite a few of our friends and clients. If you are currently mired in debt and considering bankruptcy, you can take inspiration from the knowledge that some of our Englewood clients, once in your shoes, have managed to turn their lives completely around after coming out of bankruptcy.
Debt can be a wonderful servant, but it makes a tyrannical master. And there is no one who has seen more of its tyranny than the Florida bankruptcy lawyers at David Holland Law. We have helped hundreds of clients escape the jaws of this monster. Bankruptcy isn't always the answer, of course. However, in many cases, a fresh start is just what is needed.
The Different Types of Bankruptcy
Four different types of bankruptcy are available, depending on your circumstances:
- A Chapter 7 liquidation bankruptcy, in which your non-exempt property is sold to pay creditors;
- A Chapter 13 reorganization bankruptcy, in which you keep your property and repay your debts over a period of several years;
- A Chapter 12 bankruptcy for farmers; or
- A Chapter 11 reorganization bankruptcy for corporations and wealthy individuals.
Most individual debtors choose between Chapter 7 and Chapter 13.
Get Started for as Little as Zero Money Down
We realize that you're probably not exactly flush with cash. If you were, you probably wouldn't be considering bankruptcy in the first place. Many local bankruptcy lawyers like to present you with this ‘wonderful' Catch-22 situation: they won't file your petition until you pay your fees in full, but you aren't able to pay your fees until after you obtain debt relief. At David Holland Law, you can get started for as little as zero money down.
Frequently Asked Questions (FAQs)
What if I have a car loan?
If you still owe money on your car, keep in mind that even a bankruptcy filing will not prevent the bank from repossessing your car if you default on payments and the bankruptcy court gives the bank permission to repossess. By all means, keep up with your payments if you can.
What types of debts cannot be discharged in bankruptcy?
Certain types of debts are ineligible for bankruptcy discharge, including:
- Recent tax debts (absent a special exemption)
- Child support payments
- Student loan debts (absent a hardship exception)
- Criminal fines
A Chapter 13 bankruptcy, however, can give you more time to pay some of these debts.
What do I need to do to begin the bankruptcy process?
Compile a list of your past and current assets and liabilities, including all debts that you want included in the bankruptcy. Obtain as much documentation as you can. Your bankruptcy lawyer will almost certainly ask you for additional information at some point. It is best to retain the services of an experienced Florida bankruptcy lawyer as early as possible in the process.
What property can I keep after filing for bankruptcy?
That depends on how much property you own, what type of bankruptcy you are filing, how much you owe on your property (a car loan, for example), whether you have kept up with payments, and other factors. Some of the property you might be able to keep includes:
- Your personal residence: It cannot exceed a half acre if it is located in an urban area
- Personal property up to $1,000 and federal income tax refunds, among other items
- Certain insurance benefits and pensions
- Certain public benefits such as Social Security and unemployment benefits
- Certain other types of property
Florida's Chapter 7 bankruptcy exemptions are among the nation's most generous, but you must have lived in Florida for at least two years to take advantage of them.
Act Promptly, for the Sake of Your Finances and Your Peace of Mind
Procrastination is a natural human tendency, especially when you are not sure how to react to a gathering debt crisis. It is best not to procrastinate, however, when you know that a debt hurricane is on it way. If you're not sure what to do, the first step is to make an informed decision with the help of an experienced Florida bankruptcy lawyer.
Contact David Holland Law today by calling (941)744-5450 or filling out our online case evaluation form to schedule a free consultation with an experienced Florida bankruptcy lawyer. We serve clients throughout Englewood, including Grove City, Manasota Key, Manasota Beach/Woodmere, and elsewhere in town. We offer free telephone and in-office consultations.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.