Can I still file for bankruptcy after the 2005 bankruptcy law changes?
Yes. While the Bankruptcy Abuse Prevention and Consumer Protection Act changed some of the bankruptcy rules (and added a few new hurdles for you to overcome), the 2005 law did not eliminate your right to bankruptcy protection.
Do I have to take a credit counseling course before I file bankruptcy?
Yes. The bankruptcy code requires that all debtors fulfill two educational requirements: a credit counseling course prior to filing for bankruptcy protection, as well as a financial management course after filing for bankruptcy protection. Failure to complete either of these courses and file the appropriate certificates with the bankruptcy court will prevent you from obtaining a discharge from bankruptcy.
These courses are available by phone or Internet to make them more convenient.
Who can file bankruptcy?
Any person residing or having property or a place of business in the United States may file for bankruptcy. You do not need to be a United States citizen to file for bankruptcy protection.
What is a Chapter 7 bankruptcy?
A Chapter 7 bankruptcy is usually referred to as a "liquidation bankruptcy." See our Chapter 7 bankruptcy page for more information.
What is a Chapter 13 bankruptcy?
A Chapter 13 bankruptcy is usually referred to as a "wage earner's bankruptcy," because it results in a plan to repay at least part of your debt. See our Chapter 13 bankruptcy page for more information.
How long does the bankruptcy process take?
A Chapter 7 bankruptcy case takes approximately 4 to 6 months from petition to discharge.
A Chapter 13 bankruptcy case is longer, approximately 3 to 5 years.
Must I include all of my debts when I file for bankruptcy?
Yes. You must report all of your debts. While you might be able to pay some of your debts outside of the bankruptcy, you must disclose all debts to the Court.
Will I be able to keep my home? How about my car?
Usually. Whether you can keep secured debts like your home or car depends on a lot of factors. For instance, you must be able to continue to make your mortgage/car loan payments if you want to keep your home or car. Filing for bankruptcy protection will not allow you to keep secured property without paying for them. This is a complicated question which can best be determined after consulting with your attorney.
Do I have to list all of my property on my bankruptcy schedules?
Yes. Although you will be able to keep property that is exempt under Florida law (or another applicable state's law), you still have to identify all of your real and personal property for the bankruptcy court/trustee.
Think of it this way: we put all of your property into a pot and show the bankruptcy trustee what's inside it; the trustee is then in charge of managing the contents of the pot; because some of your property is exempt from creditors, that property is removed from the pot and you get to keep it; what remains in the pot is property that is not exempt from creditors - it will be distributed by the bankruptcy trustee to your creditors in the appropriate manner.
I anticipate receiving an inheritance soon. Can I still file for bankruptcy protection?
You can, of course, still file for bankruptcy protection. However, any property which you possess (or receive) during the bankruptcy becomes property of the bankruptcy estate and will be managed by the bankruptcy trustee (see above). The bankruptcy trustee may ask you during your creditors meeting whether you expect to receive an inheritance - trust me, I've observed one trustee ask that very question! So while an inheritance doesn't prevent you from filing for bankruptcy protection, you may not want to. Depending on your circumstances and how much money you expect to inherit, you might be better off negotiating a settlement with your creditors or simply sitting tight until the inheritance is received.
Who can file for bankruptcy in Florida? In Orlando?
Any Florida resident can file for bankruptcy in Florida.
The Orlando Division of the U.S. Bankruptcy Court for the Middle District of Florida accepts bankruptcy filings from individuals who reside in OrangeCounty, Osceola County, SeminoleCounty, VolusiaCounty, LakeCounty, and other surrounding counties.
The Middle District of Florida is one of the largest federal judicial districts in the country. Depending on where you live, your case may actually be filed in Jacksonville, Tampa, or Ft. Myers. I can represent you in your bankruptcy proceeding no matter where your case is filed within the Middle District.
Can married people file for bankruptcy jointly? Individually?
Yes. Married debtors may file a joint bankruptcy petition for a single filing fee.Married couples who are jointly liable on most debts might consider filing a joint bankruptcy. By filing jointly, the property exemptions (the property you are allowed to keep) are stacked.
If only one spouse is liable for most of the debts, the indebted spouse may file an individual bankruptcy, sparing the adverse impact on the non-filing spouse's credit report. It is important to remember, however, that if there are joint debts an individual bankruptcy filing will not discharge that debt as to the non-filing spouse. If a married couple jointly owes money to a creditor and only one spouse files for bankruptcy protection, the creditor will probably be able to pursue the whole debt from the non-filing spouse.
Must I retain an attorney to file for bankruptcy?
No. As in any other area of the law, individuals are free to represent themselves in bankruptcy court. However, the bankruptcy process is a complicated one, and the bankruptcy court will give no special consideration to debtors who file their own petitions.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
