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Steve@BarzLaw.com

How will a bankruptcy filing affect my future finances?

By Stephen Barszcz |

If you’re approved for bankruptcy, you obviously will have some debt discharged. However, you have a negative impact on your credit which can last up to 10 years. You’ll also have difficulty trying to secure loans for at least the first couple of years, but you have to weigh that against the situation you’re… Read More »

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What are exempt assets?

By Stephen Barszcz |

Those are certain assets or payments that the individual can keep even if they are in bankruptcy. For instance, if you’re the head of a household, you’re entitled to keep your wages up to a certain amount of money. You’re also entitled to keep your money payments if they are social security, disability, disability… Read More »

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What are non-exempt assets?

By Stephen Barszcz |

Non-exempt assets are assets that the trustee could look at to try to satisfy your outstanding debt. That includes cash, bank accounts, stocks, coin collections, second cars, second homes.

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What does Chapter 7 bankruptcy involve?

By Stephen Barszcz |

Chapter 7 is known as a liquidation bankruptcy. That’s where if your debt is discharged it’s wiped clean and you don’t worry about it anymore. The first thing you should do is look at your assets and your liabilities, and then if you actually wish to pursue it you would then seek credit counseling,… Read More »

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What does it cost to file bankruptcy?

By Stephen Barszcz |

There are filing fees with the court, there is some counseling you must go through, before your petition is filed, and after. It’s about $400 for filing fees, and then the question is whether or not, you wish to engage the services of an attorney, and that varies with how complicated your bankruptcy is,… Read More »

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What is a 341 hearing?

By Stephen Barszcz |

A 341 hearing refers to Chapter 341 of the Bankruptcy Code. It’s where you sit down with the trustee, and perhaps some creditors, to go over your assets and liabilities.

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What is an automatic stay?

By Stephen Barszcz |

In automatic stays placed by the bankruptcy court after you have filed your petition for bankruptcy, it simply means that no one will be contacting you anymore to ask you to pay for any of your debt.

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What is bankruptcy?

By Stephen Barszcz |

Bankruptcy is a legal proceeding where a court and a trustee evaluate the assets and the income as well as the debt that a particular debtor has. They make a determination as to whether or not that particular debtor can discharge certain debts that they have.

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What is the means test in bankruptcy?

By Stephen Barszcz |

The means test is used to determine whether or not you are allowed to apply for Chapter 7 bankruptcy. They’ll evaluate your assets and expenses, but most importantly your wages. If you come below the median income for Florida that is set for that year, then you probably would be able to proceed with… Read More »

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What is the role of an attorney in a bankruptcy?

By Stephen Barszcz |

An attorney in bankruptcy can determine whether or not the Federal and/or State laws apply to your particular case. They also can help you determine which debts you might be able to show can be discharged, and also what assets you might be able to hold onto. It’s very important that someone filing for… Read More »

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