What is an automatic stay?
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.
What is bankruptcy?
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.
What is the means test in bankruptcy?
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 »
What is the role of an attorney in a bankruptcy?
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 »
Will I lose my house in a bankruptcy?
If you are current on your payments, you will be able to keep your home. However, if you’re behind on your payments and you can’t get caught up, it’s possible the home could be taken from you and then they would sell it and you would be able to either keep or they would… Read More »
