Obtain Legal Assistance for Bankruptcy in Clearwater, FL
Are you feeling overwhelmed by the amount of debt you’re facing? Are you getting late notices from collectors or struggling to make monthly payments? Your best option may be to consider filing for bankruptcy. This legal process allows you to get out of debt and get a fresh start. There are two different types of bankruptcy relief available to you in Clearwater, FL and Pinellas County, and Carolyn Secor P.A. can help to determine which option is best for you and your situation. Our team will assess your case and find the best strategy to get you the outcome you need and deserve. It’s important to know that filing for bankruptcy isn’t a free pass to get out of debt. It will, however, relieve your financial burdens, but you will have to make an effort to rebuild your credit and start anew. Contact us today to schedule a free consultation.
Will I Be Able to Rebuild My Credit After Bankruptcy?
It’s a common misconception that filing for bankruptcy will ruin your credit forever. This is not true! Bankruptcy laws are in place to help individuals get a fresh start by relieving some of their debts. This means you’ll get the opportunity to rebuild your credit. You will be able to reestablish your credit, get a credit card, or buy a house after bankruptcy. You’ll just have to work a few years to rebuild it first.
Can I Save My House and Car?
In many cases, Florida law has one of the most extensive lists of exempt property in bankruptcy filings. The list includes your home and your car. However, you must keep making payments on the mortgage or auto loan in order to keep these belongings. The Homestead Exemption Law in our great state of Florida allows you to keep your home regardless of its value. The exemption is limited to $125,000 in cases where the individual has owned the home for fewer than forty months.
How Are Owed Taxes and Student Loans Affected by Bankruptcy?
For the most part, taxes are non-dischargeable in bankruptcies. However, there can be exceptions in some cases. Some federal taxes may be excepted from discharge. Any income taxes under three years old are not dischargeable in bankruptcy. As for student loans, they are generally never dischargeable, but again there may be some exceptions. Carolyn Secor P.A. can help to explain the bankruptcy process to you and help you to understand the options available to properly managing your debt. Call us today to make an appointment for a free consultation.