This article on Bankruptcy and how to file Bankruptcy in Florida, is not to be considered as legal advice.
The sole purpose of the information provided is to give you some point of reference regarding Bankruptcy, Credit Reporting, Credit, Chapter 7, Chapter 11 and Chapter 13. Keep in mind, Bankruptcy laws as well as credit reporting guidelines change. Though we do our best to keep our website current and content up to date, depending on when you are reading this article, some of the information here may no longer apply. This is why it is important to speak with us directly and to not rely solely on this article or information you may come across doing your research.
Nothing here infers legal advice or representation. In addition, Bankruptcy laws just like all other laws can be complicated and have very strict guidelines that must be followed or you can place yourself at risk. This is why it is my opinion that if you are considering filing Bankruptcy that you call an attorney who specializes in Bankruptcy when you want and need answers that are specific to you and your circumstances. If you are in Florida and would like to speak with me, Attorney Gaila M. Anderson regarding filing Bankruptcy or have questions, call Anderson Law Group toll free (866) 244-9754 or (954) 485-1800; Email: [email protected] (Se Habla Espanol).
You may contact Gaila M. Anderson or our other attorneys online via our contact form.
As Florida lawyer and law firm who provides legal guidance and representation regarding filing Bankruptcy, I am asked a lot of questions. Most of the bankruptcy questions include:
Am I eligible to file Bankruptcy in Florida?
How do I file Bankruptcy in Florida?
Will filing Bankruptcy hurt my credit?
What type of debt is included and what kind of debt cannot be included in Bankruptcy?
Should I file Bankruptcy on my own in Florida or should I hire an attorney?
Is filing Bankruptcy bad and will I look like a deadbeat for filing for Bankruptcy?
How long does Bankruptcy stay on your credit report?
Can I get new credit after filing Bankruptcy?
To being with, if you are interested in filing bankruptcy in Florida, you must be a legal resident of the State of Florida. In addition, all Bankruptcy filings and documents are to be filed with the court within the county you legally reside. For instance, if you legally live in Coral Springs which is in Broward County, you cannot file for Bankruptcy in Miami-Dade County. Though if you recently moved, you may have to file at the court that serves your previous or old zip code.
In addition, if you have lived in Florida for at least 91 of the past 180 days ( six months), you can file for Bankruptcy within the State of Florida. If you have recently moved to Florida, you may have to file in the state from where you relocated.
As you can already tell regarding the bankruptcy rules about what state and what county you are eligible to file Bankruptcy in, the Bankruptcy laws can be a bit confusing.
This Is why I practice in the area of Bankruptcy Law and work with my clients to help them navigate the Bankruptcy rules and regulations. Filing Bankruptcy is rarely an easy decision. Often times recognizing you may have to file bankruptcy comes after many months, or even years, of stress, financial hardship, frustration and even at times, feeling depressed and overwhelmed.
My goal is to help you make the right decision regarding your individual circumstances, needs and legal options. Filing Bankruptcy as well as examining other financial remedies is both a personal and a business decision. Filing Bankruptcy affects your credit for years to come and it can also carry thoughts of defeat. On the other hand, not filing bankruptcy can have the same impact on you emotionally and on your credit status.
Below is an overview on some of the frequently asked questions on Bankruptcy Laws and How To File Bankruptcy in Florida:
Am I eligible to file Bankruptcy in Florida?
If you are a legal resident of the State of Florida you may be eligible to file Bankruptcy. The complete answer to this question is determined by how long you have lived in Florida. In order to file Bankruptcy in Florida, you need to have lived in the State of Florida 91 days in the last 6 months (180 days). If not then it must be determined where you need to file and if you can file elsewhere. For instance if you relocated from within the United States or from another country, the Bankruptcy rules, requirements and thus eligibility, will be different.
How do I file Bankruptcy in Florida?
In the State of Florida you can file Bankruptcy on your own. You do not have to hire a Bankruptcy attorney. Though we do not advise filing bankruptcy on your own, such an endeavor refers to a legal term called a Pro Se filing. A Latin term which means “on behalf of themselves.” When you represent yourself, you must be certain to file within the right court, within the correct county and file all of the paperwork, pay all of the court fees and properly navigate through the Bankruptcy legal system.
To file for Bankruptcy in Florida on your own, contact the court within your zip code and be guided by their rules and procedures. You might be able to save yourself some money filing on your own but if you make any mistakes your bankruptcy can be denied. Furthermore, if you accidentally leave off creditors whose debts you want to have discharged, you may still be liable for those debts.
Will filing Bankruptcy hurt my credit?
The simple answer to the question about bankruptcy hurting your credit is “yes.” But, if you are in the situation where you can no longer pay your debts, then you are at serious risk of your credit being hurt anyway. Bankruptcy is not the end of your ability to get new credit. Bankruptcy is a legal way of reconciling your obligations and getting an opportunity to get a new fresh start.
Be aware, sometimes filing Bankruptcy can be avoided. Bankruptcy is just one option of many when it comes to managing your credit and finances. We do have other options available. Again, everyone and his/her financial situation is unique. The only way we or any other Bankruptcy attorney can gauge your situation is to speak with you personally and then you can provide the full picture of your circumstances.
What type of debt is included and what kind of debt cannot be included in Bankruptcy?
Most debts can be included when you file Bankruptcy. This debt includes credit cards, car loan, personal loans. However there is debt that is excluded. Typically most IRS debt, child support debt, alimony debt and most student loan debts are all excluded.
Should I file Bankruptcy on my own in Florida or should I hire an attorney?
As Florida Bankruptcy attorneys who represent clients in Miami-Dade County, Palm Beach County, Broward County, Lee County and Collier County which includes the cities of Miami, Fort Lauderdale, Fort Myers, Naples, Port Charlotte, Lehigh and all surrounding cities, we always recommend hiring an attorney.
Though this answer may be expected because we are lawyers, the answers is a reflection of the realities of the legal system, the Bankruptcy Laws and other laws including criminal and civil laws.
It’s no secret that trying to save a few dollars in legal feels can cost you more in addition to delaying the process.
What do I need to do and what paperwork is required to file for Bankruptcy?
2005 Bankruptcy Act Credit Counseling
The 2005 Bankruptcy Act requires all individual debtors who file bankruptcy on or after October 17, 2005, to undergo credit counseling within six months before filing for bankruptcy relief. In addition, you must also complete a financial management course after filing bankruptcy.
Under the 2005 Bankruptcy Act Means Test your income and expenses will be reviewed to determine if you qualify to file a Chapter 7 or Chapter 13. To apply the means test, courts look at your average income 6 months prior to filing and compare it to the median income for Florida. If your income is below the median, then you may choose Chapter 7. If your income exceeds the median, the remaining parts of the means test will be applied to determine if you can file Chapter 7 or if you must file Chapter 13.
The documents needed are as follows: current income sources; major financial transactions for the last two years; monthly living expenses, deeds to real estate, car titles; debts (secured and unsecured); and property (all assets and possessions, not just real estate) and your last two years of filed tax returns.
If the Bankruptcy judge or even creditors suspect you have misrepresented the facts, you can have you bankruptcy denied or possibly worse.
Is filing Bankruptcy bad and will I look like a deadbeat for filing for Bankruptcy?
Though filing Bankruptcy may not always feel good, there is nothing wrong with filing Bankruptcy. Bankruptcy exists because sometimes it is necessary. Many famous people, politicians, businesses and even countries have filed Bankruptcy.
Finances can be complicated and life happens. There is no shame in taking advantage of the options readily and legally available to you. It would be far worse to allow yourself to drown in debt and stress than to take a positive step by getting a fresh start.
Deadbeats are people who have the ability and means to pay their obligations but choose not to pay.
Filing Bankruptcy is not a blemish on your character or intentions. It is a viable and often times the best option for people and organizations that find themselves financially insolvent and need debt relief.
How long does Bankruptcy stay on your credit report?
Bankruptcy stays on your credit report for up to 10 years.
Can I get new credit after filing Bankruptcy?
Yes, after filing Bankruptcy you can get new credit and start all over. It is possible to have new credit within six months after filing. We are aware of may ways to reestablish your credit and move beyond Bankruptcy.
And yes, you can purchase a house and car even after filing Bankruptcy.
If you are in Florida, and are looking for an attorney to discuss your options when it comes to filing Bankruptcy, be it Chapter 7, Chapter 11 or Chapter 13, call Anderson Law Group, P.A.