Tallahassee Florida Bankruptcy Law Blog

605, 2024

What Happens When You Pay Off A Chapter 13 Bankruptcy?

The coronavirus epidemic has caused many Americans to struggle financially. An estimated 205 million people face the possibility of having their utilities disconnected. Many more may also be at risk of losing their cars and homes. Many Americans are unable to pay their bills due to being laid off or [...]

2904, 2024

A Liquidation Proceeds! Which Creditors Are Paid First in a Liquidation?

In the U.S. when a company is liquidated, its creditors are repaid in a specific order. This is required by Section 507, of the Bankruptcy Code. 1. The order of payment is designed to protect the people who have a direct stake in the assets of the liquidated party. Liquidation [...]

2204, 2024

The Emotional Effects of Bankruptcy, A Coping Strategies & Support Systems

The Emotional Effects of Bankruptcy, A Coping Strategies and Support Systems The road to bankruptcy can be a rollercoaster of emotions. The process of buying a home is not only a financial journey, but a psychological one as well. This article will explore the emotional landscape surrounding bankruptcy. We'll offer [...]

1504, 2024

Financial Management Post-Bankruptcy: Life After Bankruptcy

A Financial Management Post-Bankruptcy: Life After Bankruptcy It can be difficult to navigate the waters of financial recovery following bankruptcy. While bankruptcy can provide relief from overwhelming debt, it also has a lasting impact on your credit rating and financial stability. This period is also a great opportunity to rebuild [...]

804, 2024

Navigating Bankruptcy as a Beginner

Navigating Bankruptcy as a Beginner: A Step-by-Step Guide to financial situation Embarking on the Bankruptcy Journey! For those unfamiliar with the bankruptcy process or your filing Bankruptcy as a Beginner, embarking on this journey can seem daunting. It's a path filled with legal nuances, financial assessments, and crucial decisions. This [...]

104, 2024

New Student Loan Repayment Program

Florida Bankruptcy Court Offers a New Student Loan Repayment Program There's no denying that student loan debt in the United States is a major problem. Many Americans are searching for relief and a solution to their overwhelming debt. An estimated 44 million Americans are owed $1.5 trillion by student loans. [...]

2503, 2024

What is Lien Stripping?

What is Lien Stripping? How Does it Work. In Chapter 13 bankruptcy, "Lien Stripping", a process that removes junior liens such as second or third mortgages and makes the debt "unsecured," is available. In Chapter 13 bankruptcy, you can remove a junior mortgage (such as a second or third loan) [...]

1803, 2024

Why File for Bankruptcy?

Why File for Bankruptcy? Exploring Your Options with Bruner Wright! Are you facing overwhelming debt and financial uncertainty? If so, you might be wondering, "Why file for bankruptcy?" Bankruptcy can be a daunting prospect, but it's also a powerful tool for getting your finances back on track. In this article, [...]

1103, 2024

Cost to File for Bankruptcy

Cost to File for Bankruptcy: Understanding Expenses and Procedures How Much Really Does It Cost to File Bankruptcy in Florida? Filing for bankruptcy can be a daunting prospect, both emotionally and financially. When faced with overwhelming debt, understanding the costs associated with filing for bankruptcy becomes crucial. In this article, [...]

403, 2024

Can IRS Debt Be Discharged in a Chapter 13 Bankruptcy?

Can IRS Debt Be Discharged in Chapter 13? You cannot wipe out tax debts when you file for Chapter 13 bankruptcy. You repay your tax obligations over the course of your Chapter 13 repayment schedule, which can last three to five years. There are some exceptions. Chapter 13 bankruptcy can [...]

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