Bankruptcy and Asset Protection Cases
Bankruptcy
The types of bankruptcy for consumer debts are Chapter 7 and Chapter 13. I practice Chapter 7 bankruptcy.
Asset Protection
I also handle credit card debt cases where we do not file bankruptcy. These are often called Asset Protection cases (we are protecting your assets, and you!). In these cases, I deal with your creditors for you and guide you along the way.
Chapter 7 eliminates debts in one fell swoop, rather than in a payment plan. Chapter 7 is usually less expensive and quicker than Chapter 13. If you qualify and would not lose significant assets, it’s usually better.
Chapter 13 can sometimes be helpful where someone has too much in assets to lose, or doesn’t qualify for Chapter 7 because of a high income. It involves a partial payment plan over a number of years. Because of the extra cost, and the fact that many cases just don’t make it all the way though, I only handle Chapter 7 cases.
Of course! This is a very common concern or myth. In general, the only things that count are what you own on the day your case is filed. There is certainly no reason you can’t own something else right afterwards (whether you buy something outright or on credit, or receive something from someone else).
My main office in is Ocala, which is in Marion County, Florida. I handle Ocala credit card debt cases and Ocala bankruptcy cases, and also cases for the surrounding counties.
Bankruptcy law goes by large Federal Districts, so many of my clients come from other counties, such as Sumter, Citrus, and Lake Counties.
Bankruptcy
In bankruptcy cases, there is one brief meeting a trustee which is usually held in Jacksonville or Orlando, depending on where you live. There is a good deal of paperwork that goes into each case, which is mainly what the court relies on. The most important thing to me is to prepare your case correctly before filing so everything goes smoothly.
Asset Protection
In Asset Protection cases, you should never have to go to court at all.
These feeling are normal. Bankruptcy is one of the most emotional areas of law. However, the right to bankruptcy is granted in the Constitution. Even our founding fathers saw that, in life, sometimes people need a fresh start.
We all want to do the “right” thing, but sometimes we need to pose the question as which is the “most” right thing to do.
For instance, is it right for you or your family to struggle to survive and meet even the basic necessities? Would the right priority be for you to be homeless, but still sending off payments to credit card companies that are just as happy to get a tax write‑off if they get a bankruptcy notice? If there just isn’t enough money to go around, I’ll help you set the right priorities.
Finally, given the statistics, I’ll bet you know quite a few people who have filed bankruptcy, but you may not know who they are. Many people don’t tell even their closest relatives or friends that they’ve filed bankruptcy.
Everybody is different; everyone’s story is different. However, I believe there are a few main causes. These overlap and it’s often a few factors. These include family break up (death of a spouse or other family break up loss), job loss, or medical issues. Many people are on a fixed income and expenses just go up.
You can file Chapter 7 bankruptcy every 8 years. Most of my clients never thought they would need to file in the first place, let alone, a second or third time! But life throws unexpected events at us all the time. It can sometimes feel discouraging to file another bankruptcy case, but Congress designed it this way for a reason. The key is that, rather than looking at any bankruptcy as a defeat, you should see it as a way of continuing to move forward with your life. You should acknowledge that you are taking the right steps, despite what events happen in life. You will see there’s nothing to be ashamed of, but instead that you should congratulate yourself for facing this new problem head on.
