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Author Archives: Kevin Paysinger

When to Consider Bankruptcy

The main factor that signals whether or not to consider bankruptcy is insurmountable debt. No matter how people try, when they cannot get out from under debt and their situation keeps worsening, bankruptcy may be the right financial remedy. Signs that bankruptcy may be the answer Chapter 7 bankruptcy attorneys in Jacksonville  can help people […]

Is Bankruptcy Overseen by Federal or State Courts?

Bankruptcy Federal courts have exclusive jurisdiction over bankruptcies. People file bankruptcy with the U.S. Bankruptcy Courts, which are units under the Federal District Court system that oversees bankruptcies. Constitutional authority over bankruptcy The United States district court system comprises 94 federal judicial districts, with each state having at least one district. The District of Columbia, […]

What Happens if My Creditors Object to a Discharge?

Obtaining a discharge is the primary purpose of filing bankruptcy. For Chapter 7 petitioners, the bankruptcy discharge begins their journey to a “financial fresh start.” The same is true for Chapter 13 filers who achieve personal and financial satisfaction when they successfully complete their repayment plans. A discharge means creditors may not seek further collection […]

What are My Property Rights? Florida State Exemptions

Bankruptcy allows people who owe more money than they can repay to either pay off a portion of their debt over time by filing a Chapter 13 petition, or request that the court forgive their entire debt by filing a Chapter 7 petition. Bankruptcy trustees may also liquidate debtors’ assets to pay off debts. However, […]

Options for Your Property When You File for Bankruptcy Protection

Chapter 7 bankruptcy gives you the opportunity to liquidate your debt and provides a “fresh financial start” at the completion of your case. Some people may mistakenly believe that they will lose all of their personal property when they file Chapter 7, but this rarely happens. In fact, your personal property can be classified under […]

Five Bankruptcy Myths Dispelled

People who think about filing for bankruptcy protection are sometimes scared of the legal process. You may fear losing cherished property, being regarded with shame in the eyes of your family or even going to jail. Usually these fears are based on myths — not reality. We’re here today to address the five most commonly […]

Elements to a Successful Chapter 13 Repayment Plan

Some debtors may seek bankruptcy protection in order to get a better handle on their finances. Reorganizing debt is their goal, not liquidating debt all together. If this is what you aim to do, Chapter 13 bankruptcy might be the right choice for you. Chapter 13 bankruptcy is often called a “wage-earner plan” because the […]

Filing Bankruptcy May Even Stop IRS Collections

Mounting tax debt can cause extraordinary emotional stress and lead to financial ruin. Bankruptcy can be an effective tool in eliminating debt, including federal and state income taxes. However, not all tax debts qualify for bankruptcy, and failure to file bankruptcy in a timely manner can cause tax debts to fall outside your bankruptcy estate. […]

Retirees Lose Big by Borrowing Against Hard-Earned Pension Funds

Consumer-watch groups warn that older Americans may be at risk of losing their pensions to loan scammers. Recently, aggressive lenders have been targeting retired teachers, military veterans, first responders and other pension holders to take out cash advances from their retirement funds. These so-called advances are in reality craftily disguised loans that carry extraordinarily high […]

Exceptions to Automatic Stay

In this sluggish economy, people from various economic backgrounds struggle with burdensome debt. High credit card bills, medical expenses or job loss can cause you to have a disproportionate debt-to-income ratio. Some people turn to bankruptcy to get debt relief. One of the benefits of filing for bankruptcy is that it stops creditor collection actions. […]