Bankruptcy Lawyer Oldsmar, FL

Though bankruptcy does have significant consequences on a person’s financial record, it can be a suitable option depending on the situation, as a bankruptcy lawyer who serves clients in Oldsmar, Florida can explain. Finding the best solution to your debt problems can be challenging and stressful, but when you turn to a reliable and trusted bankruptcy lawyer who is knowledgeable about debt relief options, you can feel comfort in knowing that you are in the right hands. Before you commit to any major financial decision such as bankruptcy, be sure to gather enough information so that you can make the best decision.

Bankruptcy Lawyer in Oldsmar, FL

It can take a sudden unexpected emergency to get into crippling debt that changes your life. When you are facing serious debt problems, a good place to start would be to speak with an experienced bankruptcy lawyer in Oldsmar, FL like one from Carolyn Secor, P.A. who you can trust to inform you about the bankruptcy process. With years of experience helping clients who have needed urgent assistance with scenarios such as overwhelming debt struggles, at risk of going through foreclosure, or other financial difficulties. Carolyn Secor, P.A. understands the needs of her clients and knows how to provide excellent legal services for them so that they can achieve their goal of financial freedom.

Is Bankruptcy Right For You?

Filing for bankruptcy is a last resort option because of the serious financial consequences it entails. In order to file, you must meet the basic legal requirements. Depending on what type of bankruptcy that you file for, this is determined through a means test and the type of debt that you have. Some other important factors to consider to see whether or not you are eligible to file for bankruptcy to achieve debt relief include:

• You have loans with high interest rate
• You have unsecured debt that can be discharged
• You want a lower mortgage payment
• You have difficulty making on-time payments
• You are facing litigation 
• You are struggling to qualify for a loan

These are just a few of the many scenarios that bankruptcy can provide relief for. To receive a personalized assessment, talk to a seasoned lawyer and find out if bankruptcy is an appropriate financial solution. 

Types of Bankruptcy 

Many debtors file for two common types of bankruptcy: Chapter 7 (liquidation) and Chapter 13 (reorganization). There are several key differences between the two. Chapter 7 is considered the fastest type of bankruptcy because it can be completed in a few months, while Chapter 13 takes several years to complete. Chapter 13 bankruptcy allows debtors to reorganize their payments, while Chapter 7 immediately discharges certain types of eligible debt. 

Explore Your Debt Relief Options

It can be hard to know whether bankruptcy is something that you can consider as a way to get rid of your debts. It is important to evaluate your financial situation to see if bankruptcy would be the most beneficial solution for you. For more information, request a consultation with an experienced bankruptcy lawyer Oldsmar, FL residents turn to. 

4 Tips for Rebuilding Credit After Bankruptcy

Filing bankruptcy can be a way to eliminate significant debt and allow you to experience financial freedom. Even though these are huge benefits, filing for bankruptcy with the help of a bankruptcy lawyer in Oldsmar FL at the office of Carolyn Secor, PA can impact your credit score. If you are struggling to rebuild your credit after you file for bankruptcy, the following strategies can help.

1. Monitor Your Credit Report

Many people do not pay close attention to their credit report, and it would surprise them how many discrepancies show up. If you are not already doing so, start monitoring your credit report. Analyze each transaction that comes up and make sure it is correct. If something is incorrect, dispute it with your creditor right away.

2. Get a Secured Credit Card

After your bankruptcy lawyer in Oldsmar FL helps you finish the bankruptcy process, it is a good idea to minimize your dependence on credit cards. But strategically using credit can help you improve your credit and enhance your trustworthiness among lenders. You may want to start with a secured credit card to accomplish this. These cards require you to make a refundable security deposit and then when you use the card to make a purchase, you borrow against it.

3. Practice Good Financial Habits

Practicing good financial habits is a nearly guaranteed way to rebuild your credit incrementally over time. First and foremost, make on-time, full payments on every bill. You should also reduce how often you use your credit cards and keep the balances on your credit accounts low. If possible, start to build an emergency fund that can help you cover unexpected expenses instead of relying on your credit cards.

4. Get a Co-Signer

If you need to sign a lease or secure an auto or home loan, it may be hard to secure funding or to get a favorable interest rate. When this happens, you may want to ask a co-signer to help you with this process. Although your co-signer’s credit will take a hit if you fail to make payments, your credit and their credit will improve if you stay consistent with your payment schedule.

3 Signs You Might Need To File Bankruptcy

Most people hope to avoid bankruptcy at all costs. Although bankruptcy is never ideal, there are certain situations in which bankruptcy is the best solution to severe financial problems. The legal team at Carolyn Secor, PA can help you better understand your situation and determine if you are in need of a bankruptcy lawyer in Oldsmar FL. Here are 3 signs you might want to consider the bankruptcy option. 

You Can’t Make Monthly Payments 

One of the most obvious signs that you could be in need of filing bankruptcy is that you are struggling to make monthly payments. Sometimes this can be a result of poor money choices or because of unforeseen life events that could not be helped. Events such as a job loss, a death in the family, or a serious illness can have a devasting effect on your finances. In these types of situations, you may find yourself unable to make monthly payments. Speaking with a bankruptcy lawyer in Oldsmar FL is one way to better understand your financial situation to determine if bankruptcy could help. 

Creditors Are Harassing You

If you have fallen behind on debt payments, you may start to experience harassment from creditors. Harassment can come in the form of constant phone calls, emails, or letters. Although these creditors have a right to receive payment, there is only so much you can do if you truly do not have the money to make the payments. If creditors are harassing you, a bankruptcy lawyer in Oldsmar FL can help. 

Late Fees And Over Limit Fees Are Drowning You

Once you start to miss payments on credit cards or other debts, you may experience a snowball effect of late fees or over-limit fees. These fees can add up quickly making it nearly impossible to get back on top of your debt payments. You may have fallen behind on payments because of bad decision making or because of changes in your finances you could not help like a divorce or medical bills. Regardless of why you are behind, it is important to get back in control of late fees or over-limit fees. A bankruptcy lawyer in Oldsmar FL can help you navigate these expenses and figure out a financial plan that will work for you. 

How To Choose a Bankruptcy Lawyer

Create a List of Candidates

The first step for finding a bankruptcy lawyer in Oldsmar FL is to create a list of candidates. Without completing this step, you’ll never see the attorney that is the perfect fit for you. Start by browsing the internet for your options. Aside from this, ask your neighbors who they’ve used. Ask your friends and family who they recommend. Maybe your HOA board has a lawyer on it who can point you in the right direction. Perhaps you go to church with attorneys. Ask anyone you can think of for recommendations. 

Narrow Down Your List

Once you’ve got a list, you start the vetting process. First, browse through online review sites to see how each individual is ranked. Next, look for any candidates with distinguished achievements. These individuals should be at the top of your list. Finally, remove any with only a handful of ratings as they probably don’t have much experience. 

Vet Them in a Consultation

In your consultation with a bankruptcy lawyer in Oldsmar Fl, you should interview them enough to feel confident in their ability to handle your case. Ask them all the questions that are burning in your head. See if they think you’re a suitable candidate for bankruptcy. Find out if they’ve handled bankruptcies before. Ask how large their firm is and how many resources they have. See how quickly they return calls. Find out if they’ll be hands-on or if paralegals will handle your case. 

As you conduct your interview, remember that this is the person who will help you through a difficult financial time. Take notes on their experience and personality in a notebook or on your phone. 

Consider All the Factors

At Carolyn Secor, PA, we believe that the most significant factors you should use to choose an attorney are expense, experience, and empathy. The attorney should be experienced enough to handle your case and empathetic enough to understand your situation. However, their fees should still be within your price range. 

Make Your Decision

At Carolyn Secor, PA, we understand the emotions you are experiencing. That’s why we don’t judge or speak down to our clients. Instead, we empathize with your situation and the magnitude of the problem you are going through. That’s why you must take your time and make the right decision. Then, once you’ve finished weighing the factors, pick the attorney that best suits your needs. This person will be the one who helps you get a second financial chance in life. 

Trying to figure out severe financial problems on your own can feel overwhelming. Carolyn Secor, PA can help you in Oldsmar FL. 

After you finalize the bankruptcy process with the help of a bankruptcy lawyer in Oldsmar FL from the office of Carolyn Secor, PA, you may be eager to build your credit as quickly as possible. It is important to keep in mind that this does not happen overnight, but with consistent effort, your score will likely start to improve.