We specialize in getting your creditors off your back to give you a new start
Palmetto, Florida, is home to nearly 14,000 souls as well as Palmetto Historic District and Palmetto Estuary Reserve. Indeed, many of our best friends and clients live here. Our clients, of course, aren't having their best day when they come to us. Once financial distress progresses past a certain point, it never leaves your mind – like an uninvited guest who refuses to leave.
Financial distress can so clutter your mind that you are unable to see past it to the much brighter future you might enjoy if you begin playing your cards right from this day on. Bankruptcy, of course, is not necessarily the answer; but it might be. Don't allow the imaginary stigma of bankruptcy blind you to its potential benefits. David Holland Law can show you the way out of your current distress.
What Bankruptcy Can Do for You
The most immediate benefit of a bankruptcy filing is an automatic stay, which the bankruptcy court will enter as soon as it accepts your petition. An automatic stay will prevent your creditors (to the extent that they are included in the bankruptcy) from:
- garnishing your wages;
- freezing your bank account;
- selling your property (except for certain non-exempt collateral); or
- harassing you.
The ultimate benefit of a bankruptcy, however, is the debt discharge that you receive once you meet the conditions of the bankruptcy. A Chapter 7 debt discharge takes effect once your non-exempt assets have been sold and the proceeds distributed to creditors. A Chapter 13 discharge takes effect once you complete the terms of a three- to five-year repayment plan.
Frequently Asked Questions (FAQs)
Can I afford to file for bankruptcy?
Perhaps the better question is, can you afford not to file for bankruptcy? There are expenses involved in bankruptcy, of course: court fees and attorney's fees, for example. Bankruptcy, however, gives you the fresh start that might be more than worth it in the long run. Before you file for bankruptcy, you need to perform a careful cost-benefit analysis that takes into account reasonable alternatives.
Will I have to go to court?
Yes, but you won't have to spend much time there, and one of us can come with you and help you. Your only required appearance will be at the creditors' meeting. In all likelihood, none of your creditors will bother to attend the meeting. The meeting will be presided over by a bankruptcy trustee who will ask you questions about your bankruptcy document and your finances. Your answers will be under oath, so you will have to answer accurately.
Can I keep my house and my car?
That depends on many factors including:
- Your income.
- The size of your household.
- Your payment history (are you behind on payments?).
- How much equity you have.
Even if you file for a Chapter 7 liquidation bankruptcy, Florida allows you to exempt certain property (meaning you can keep it), typically including your personal residence.
How often can I file for bankruptcy?
Strictly speaking, there is no limit on how often you can file for bankruptcy. There is, however, a limit on how often you can receive a bankruptcy discharge – without which there is little point in filing for bankruptcy. The limits are as follows:
- First Chapter 7, then another Chapter 7: Once every eight years
- First Chapter 13, then another Chapter 13: Once every seven years
- First Chapter 7, then Chapter 13: Once every four years
- First Chapter 13, then Chapter 7: Once every six years
Chapter 12 (farmer's bankruptcy) and Chapter 11 (bankruptcy for corporations and high net worth individuals) are subject to their own rules.
One Bold Move Can Make All the Difference in Your Life
Don't allow your creditors to intimidate you into inaction. If you find yourself sinking in debt, contact David Holland Law by calling (941)-744-5450 or by filling out our online case evaluation form to speak with an experienced bankruptcy attorney today. We can help you explore your options and craft a financial recovery plan that is tailor-made for your individual circumstances and concerns. We serve clients throughout Palmetto, including Artisan Lakes, Caloosa Gardens, Crystal Lakes, Eagle Pointe, Jaclyn Oaks, Mariposa, and elsewhere in town.
We are a debt relief agency, and we help people file for bankruptcy relief under the Bankruptcy Code.