Category Archives: Bankruptcy

What ‘to do’ to file for chapter 7 bankruptcy

Posted on May 11, 2012 by Blick Law

While there may be a stigma to filing chapter 7 bankruptcy, claiming bankruptcy may alleviate everyday stress and financial burdens. If you decide to file for chapter 7 bankruptcy, be mindful to completely and accurately gather and fill out all documents pertaining to your claim.

To seamlessly file your bankruptcy in an accurate and in a timely manner, follow the following key steps for filing chapter 7 bankruptcy with a Tampa bankruptcy attorney.

DO complete the bankruptcy intake packet that you receive on your initial visit at Blick Law Firm.

DO bring all requested documents to your second appointment. **A third appointment may result in an additional fee.

DO value your personal property at garage sale prices your Tampa bankruptcy lawyer can help you keep as much of your personal property as possible.

DO value your cars using the NADA. Also, check with Kelly Blue Book.

DO plan on having a low balance in your checking account the day you file your petition.

DO notify your creditor if you have retained a bankruptcy attorney to assist in your filing process.

DO stop making payments to your credit card accounts.

DO continue making payments on your mortgage and other secured debts.

DO let your Tampa bankruptcy attorney know of any abusive conduct by any debt collector.

DO inform your attorney of any lawsuits in which you might be involved, including personal injury.

DO take your first and second credit counseling classes. Classes in which to attend will be instructed to you by your law firm.

DO bring your driver license and social security card to your appointments and 341 hearing.

DO call Blick Law Firm if you have any questions.

If you are seeking to discharge your debt, contact a Tampa bankruptcy attorney that has the experience and knowledge to accurately file your information. Call Blick Law Firm today at 813-931-0840 to receive your chapter 7 bankruptcy.

Posted in Bankruptcy, Blog | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

Does filing bankruptcy cover medical debt?

Posted on April 23, 2012 by Blick Law Firm

Rising health care costs and the financial situations you may face leads many to medical expenses that can quickly escalate into piles of debt. With more employers cutting insurance contributions, the demand on medical consumers only increases.

Luckily for debtors burdened with medical bills, medical debt is considered an unsecured debt by the bankruptcy courts, and may possibly be discharged in a Chapter 7 bankruptcy.

Researchers from Harvard Medical School and Ohio University conducted a survey of personal bankruptcy filers for 2007 and found that nearly two-thirds of petitions filed personal bankruptcy because of medical-related debts. Of those, nearly 80 percent had health insurance.

Not only can unexpected illnesses bring on bills but the prolonged effects of illness or injury can be loss of work and less income to pay off those bills.

Medical bankruptcy is an especially complex issue, and should be sought for council before proceeding by a Tampa bankruptcy attorney that can help you during your financial hardship. To learn more about your options to discharge medical debt, contact attorney Michael Blickensderfer of Blick Law Firm and ask about our consultation services today! 813-931-0840.

Posted in Bankruptcy, Blog | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Can I lose my home if I file bankruptcy?

Posted on April 13, 2012 by Blick Law Firm

There are ways to keep your home in bankruptcy. “Automatic Stay” is one of the first advantages of bankruptcy, which will prevent creditors from taking collection action against you. If you are facing foreclosure, the filing of a bankruptcy petition will temporarily suspend the foreclosure action. While the automatic stay will not last forever, it will give you more time to review all of your options.   Attorney Michael Blickensderfer of Blick Law Firm can help you review all of your options before deciding which type of bankruptcy is best for your situation.

Personal circumstances, such as the type of bankruptcy you file, the amount of equity in your home, and whether you own the house jointly with someone else are all factors to consider.  In a Chapter 7 case, while you will lose assets but get rid of debts, you can either formally reaffirm the mortgage loan or, in some judicial districts, just keep making payments. If you fall behind on payments, and have some equity in your home, Chapter 13 bankruptcy may be a better choice for you because it allows you to pay off the arrearages (mortgage) over time and therefore face less risk to losing your home. A critical consideration in a Chapter 13 case is whether a debtor whose home loan is in default can make the larger mortgage payments (the missed payments plus resuming the original payments) over the repayment period.

For more information regarding keeping your home when filing for bankruptcy or general questions about qualifying for Chapter 7 and Chapter 13 bankruptcy call Blick Law Firm today at 813-931-0840.

Posted in Bankruptcy, Blog | Tagged , , , , , , , , , , , , , , , , | Leave a comment

Tax Returns being used to file Bankruptcy

Posted on March 28, 2012 by Blick Law Firm

The Columbia University Mailman School of Public Health reports that more families have been using their tax rebates to file for bankruptcy.

In 2001, bankruptcies increased 2 percent after receiving rebates but increased 7 percent in 2008, according to research by Tal Gross, an assistant professor of health policy and management at the school.

Overall, Gross found bankruptcy filings fell by more than 50 percent between the two years, presumably due to the Bankruptcy Abuse Prevention and Consumer Protection Act passed in 2005.  Legal fees for filing increased from an average of $921 to $1,477.

While some debate the new law was a good way to weed out unnecessary filings, Gross believes it made it more difficult for families in need to dig themselves out of their financial troubles.

Although bankruptcy has had a bit of a bad rep in the past, it may be the only option for people with medical debt.  Attorney Michael Blickensderfer is knowledgeable in  recent bankruptcy laws and may offer assistance as you face this hardship.

Although filing for bankruptcy remains on one’s credit history for up to 10 years, the credit score may go up as much as 100 points as shortly as a year later.

Call Blick Law Firm today to receive a free consultation regarding chapter 7 bankruptcy  and how you can file and the procedures that go into filing.

Think quick, call Blick. 813-931-0840.

 

Posted in Bankruptcy, Blog | Tagged , , , , , , , , , , , | Leave a comment

Florida Bankruptcy Alternatives

Posted on March 19, 2012 by Blick Law Firm

Attorney, Michael Blickensderfer, practices bankruptcy law. As a consumer who is in financial hardship, it is important to know the alternatives to filing bankruptcy… and we can help!

Florida Bankruptcy Alternatives:

Receiving late notices and phone calls from creditors? DON’T IGNORE THEM!

Talk with your creditors and attempt to work out a payment plan.  Explain your situation and the reason for the hardship.  Often the creditor is willing to co-operate.

  1. Possible options?  Debt consolidation loan  will allow you to pay off all your creditors and then you will just be left with the debt consolidation loan payment. 
  2. Another option is a Florida credit counseling plan where your creditors may be willing to lower your interest rates and accept a reduced payment if you enter a “Debt Repayment Plan.”  Your money is generally deposited to a service.
  3. A third option to Florida personal bankruptcy is a Florida credit counseling plan. Your creditors may be willing to lower your interest rates and accept reduced payments if you enter a debt repayment plan.

Generally, in these plans, you deposit money each month with the credit counseling service. Your deposits are used to pay your creditors according to a payment schedule developed by the counselor. As part of the repayment plan, you may have to agree not to apply for, or use, any additional credit while you’re participating in the program.

Contact Blick Law Firm today for more information regarding these programs, bankruptcy laws and changes in Florida. We are here to help you in your time of need, you are not alone! 813-931-0840.

Posted in Bankruptcy, Blog | Tagged , , , , , , , , | Leave a comment

How do I qualify for chapter 7 bankruptcy?

Posted on February 27, 2012 by Blick Law Firm

Filing chapter 7 bankruptcy can be a tough decision. Deciding to pursue a bankruptcy claim most times is difficult to face, and often comes with emotions of shame or guilt.   We at Blick Law Firm understand the issues that chapter 7 bankruptcy debtors are facing and are here to assist you through the process.  We take consultation of our clients very serious and make suggestions that are in the best interest for them.

Should you decide that filing bankruptcy is your best option after consulting with our staff, your first step will be to take a bankruptcy Credit Counselin course.  We will help you find an online approved course, which you will sign-up and pay for.  The cost ranges from $30 – $50, proof upon course completion will be provided.

What is a Chapter 7 Bankruptcy?

Chapter 7 bankruptcies is usually reserved for individual debtors who have not previously filed Chapter 7 or had a complete Chapter 13 repayment plan in the last 8 years.

How do I qualify for Chapter 7 bankruptcy?

You usually must make at or below the median income level in your state. $40,766 is the median income in a Florida household with a single earner and $49,729 for a 2-person earner.  Debtors are accountable to a trustee, whose job is to collect and sell any non-exempt property. The money from that sale is given to your creditors in order of importance. No payments are made to the trustee. Once your assets are sold, most remaining dischargeable debts are erased.  Alimony, child support payments, back taxes and anything debt to the government are not dischargeable.   Blick Law Firm can help you determine which of your debts will be dischargeable, and which you will still be responsible to pay!

After the bankruptcy petition is filed, you will have a small window in which to take a Debtor Education Course, before the actual discharge.  Again, the staff at Blick Law Firm can assist you in locating an approved course, which will cost you approximately $50 – $100. This course is required upon completion of bankruptcy discharge.

Can I file for Chapter 7 Bankruptcy without an attorney?

While a debtor can file bankruptcy without hiring an attorney, it is not advised.  The costs for incomplete files would far outweigh the expenses of the representation of an attorney knowledgeable about bankruptcy laws.

Call Blick Law Firm today for additional information regarding the chapter 7 bankruptcy process and filing information. We will give you a free consultation and hope to clear any concerns you may have during this unfortunate time. Call 813-931-0840 today.

Posted in Bankruptcy, Blog | Leave a comment