If I File Bankruptcy, Can I Keep Some Of My Property? Answer: Yes. Probably All Of Your Property, As Will Be Exempt!

When you file a bankruptcy case, you create what is referred to as your bankruptcy “estate”. The estate consists of two parts: One part is property (your belongings such cars, household goods, furniture, clothes; literally everything you own) that you claim as exempt under bankruptcy law. This means you are allowed to keep these items of property, as they are exempted from, or not part of, the estate. The other part of the estate consists of non-exempt property, which is property that must be turned over to the bankruptcy trustee

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Two Kinds of Creditors: Secured + Unsecured

Creditors are divided into two types: Secured and unsecured. Each is treated differently in a bankruptcy case. Every creditor, secured or unsecured, is notified by the bankruptcy clerk by mail of the case being filed with a “Notice of Commencement”, outlining their various rights and advising that Relief Has Been Ordered and that the Automatic Stay is in effect, which prohibits them from contacting the debtor in any fashion.

As an experienced Ft. Lauderdale bankruptcy attorney dealing with these matters daily, I offer the following summary.

Secured creditors (Schedule D in a

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Overwhelmed by Debt? The Bankruptcy Law Was Written – & Intended To – Give You a “Fresh Start”

In a 1934 decision, the U.S. Supreme Court wrote:  “Bankruptcy gives the honest but unfortunate debtor … a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt”.

For as long as there have been people, there have been creditors and debtors, and debtors who have been unable to pay their creditors.  But throughout history there has been very little in the way of organized bankruptcy proceedings to relieve overburdened debtors from being forced to repay debts, or I’ve even heard

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Ghost (Forgotten) Debt, Or Debt You Can’t See That Can Bite Hard, Real Hard. The Surprise You Really Don’t Want.

I am a Ft. Lauderdale Bankruptcy Attorney. A lot of potential clients call me for an initial phone consultation about maybe filing bankruptcy. I give them the benefit of my advice & offer a free in-person confidential consultation where we can go more in depth. But then something happens: Nothing. Nothing happens. That is, since all is quiet & appears well as time goes on, the person doesn’t call back or come in & the notes I make from any such contact just get taped into my calendar for future

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A Ft. Lauderdale Bankruptcy Attorney Opines: Retirement & Filing Bankruptcy – Timed Correctly It Is A Valuable, Even Optimal, Retirement Planning Tool

Generally speaking, being able to finally retire for most of us equates to less income. For many retirees or retirees-to-be, a bankruptcy can be a valuable means to protect assets and bring relief from accumulated debt brought on by high credit card balances, medical bills, helping your children and the like. Too much debt is adverse to the retirement you envision. But within the parameters of the bankruptcy law, almost any kind of unsecured debt, meaning creditors who do not have collateral, like a car loans or a mortgage, is

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A Ft. Lauderdale Bankruptcy Attorney Laments: Debt Consolidation Companies – Myths & Woes – Or Mostly A Rock?

As a seasoned bankruptcy attorney, it irks me to see the horse pucky in the numerous debt consolidation ads lately.  “Credit Card Hardship Relief Program”.  “Debt Relief is Just a Few Clicks Away”.  “You May Be Eligible For Special Offers”.  None of which is really true.  Sorry, but there is just no free lunch, absent hitting the lottery.  Oh you will “qualify” – for a hefty monthly payment “program”, but it will be on terms your various credit card companies dictate, and that is, IF, they will cut you even

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As a Fort Lauderdale Bankruptcy Attorney, What Are The Most Common Questions A Prospective Client Asks?

Will I be ruined for 10 years? NO! A bankruptcy filing remains on your credit report for up to 10 years. But there is no law that says because you filed a bankruptcy you are automatically denied credit. Quite the contrary, banks, credit card companies and lenders want your business. Depending on how bad your credit was, a bankruptcy may well strengthen your credit worthiness, because now you don’t have say, $25,000 or $50,000 in debt, you have NO Debt, and you can’t file again for 8 years. Many of

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A Fort Lauderdale Bankruptcy Attorney Asks: Can You Really Afford Not To Have An Attorney?

I once saw a bankruptcy trustee take the car keys from a debtor. She (the debtor) had filed her bankruptcy without an attorney. If she did get her car back in the end, it cost her much more than hiring a lawyer would have.

Bankruptcy law is complicated. The complexity invites problems. There are nuances in all aspects of case analyses, planning and preparation through filing, which affect asset exemption and retention. That is, keeping your property and just getting rid of debt.

Well, can’t I just dismiss my case and re-file?

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Bankruptcy & Debt Relief Offered in Ft. Lauderdale & South Florida

Crushing personal debt, whether credit cards, loans or medical bills. Struggling to just try and pay something every month. Never enough money. You feel like you have no life and worse, it feels like you can’t provide things and vacations and the like for your family. And there’s no end in sight.

These are the kind of circumstances my typical, potential bankruptcy clients are in when they contact me.

Is there a kind of Lottery they could win?

Well, yes. There kind of is. What if I could orchestrate a 100% legal, solid,

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