' 6 More Things You Should Know About Bankruptcy - Law Offices of Robert M. Geller, P.A.
CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

6 More Things You Should Know About Bankruptcy

bankruptcy triks and tipsWhen you’re considering bankruptcy, it can help to know what to expect. Understanding the bankruptcy tricks and tips available to you can put your mind at ease and make the experience much easier.

What are six surprising things you should know about bankruptcy?

1. You Don’t Need a Lawyer

But you probably want one.

While having an attorney represent you during the process is typically recommended, you don’t legally need a lawyer to file for bankruptcy.

However, with all of the steps – and forms to fill out – involved in the process, it can be helpful to have an attorney guide you through it. They also help you avoid mistakes that can derail your case.

2. You Might Not Have to Pay for Bankruptcy

It’s true that you have to file a fee with the court to complete the process.

However, if you can’t afford this fee, it might be possible to get it waived or delayed. If you’re concerned about paying for bankruptcy, speak to your attorney about your situation.

3. Bankruptcy Automatically Stays Foreclosure Proceedings

This is one of the most coveted bankruptcy tricks and tips because it targets one of the biggest financial concerns.

If you’re facing a foreclosure, then filing for bankruptcy can provide some much-needed relief. Your home will be protected by the court, meaning that your lender cannot move forward with selling it while the process of declaring bankruptcy is still in progress.

4. Bankruptcy Offers Protection for Other Property

If you’re worried about losing certain assets during bankruptcy proceedings, then you may want to consider using a process called “reaffirming” your debts. This means that you agree to keep making payments on certain debts, even after you’ve filed for bankruptcy. In exchange, the lender agrees to not take the property in question.

5. You Have Bankruptcy Options

Just because you’re filing for bankruptcy, doesn’t mean that you have only one option when it comes to which kind of bankruptcy to declare. Depending on your financial situation, there may be several options available to you. Be sure to speak with your attorney about which type of bankruptcy would be best for you.

6. Bankruptcy Doesn’t Carry the Stigma It Once Did

The number of Americans filing for bankruptcy has been on the rise in recent years. In fact, according to the American Bankruptcy Institute, more than 790,000 individuals filed for bankruptcy in 2016 – which is a nearly 9 percent increase from the year before.

So why is bankruptcy more accepted than it used to be?

There are a few possible reasons for this. One is that people are struggling more than they used to, and bankruptcy can offer them a fresh financial start. Another reason may be the availability of new debt relief programs offered by the government and financial institutions, which make it easier for those in debt to become financially stable again. Finally, it could be that people understand bankruptcy tricks and tips better than ever. They know it can help them more than hurt them.

Whatever the case, it’s clear that bankruptcy is a much more common occurrence today than it was in the past. While this may be concerning to some, it also means there are lots of resources available to those who need help getting their finances back on track.

Bankruptcy can be a complicated and daunting process, but it doesn’t have to be. Understanding your options and knowing the bankruptcy tricks and tips you can use can help make the process much less stressful.

To learn more, contact the Law Offices of Robert M. Geller at 813-254-5696 to schedule a free consultation.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Does Business Bankruptcy Affect Personal Credit?

Does Business Bankruptcy Affect Personal Credit? For entrepreneurs and business owners facing financial challenges, the prospect of business bankruptcy can...
Read More

Can I Get an Apartment After Filing for Bankruptcy?

Filing for bankruptcy often feels challenging and overwhelming. It also raises a variety of concerns. One of the most common...
Read More

Are SBA Loans Dischargeable in Bankruptcy?

Navigating the complexities of Small Business Administration (SBA) loans and bankruptcy can be a daunting task for many business owners....
Read More

How to Get Bankruptcy Off of Your Credit Report

Rebuilding financial health after bankruptcy is challenging, but that doesn’t mean filing is worth the effort. One common concern for...
Read More

What Happens When You File for Bankruptcy?

Contemplating bankruptcy is a significant decision that comes with many questions. If you're considering filing for bankruptcy, it's essential to...
Read More

Can I File for Bankruptcy If I Have a Job?

Many people considering bankruptcy are unemployed or know that unemployment is imminent. However, this isn’t always the case. In some...
Read More

Can Bankruptcy Stop Foreclosure?

Many people face the distressing prospect of foreclosure on their homes. If you find yourself in this situation, it's crucial...
Read More

How Much Does It Cost to File Bankruptcy in Florida?

Financial challenges can be overwhelming. For many individuals, bankruptcy becomes a viable option for a fresh start. Many clients are...
Read More

How to Get Out of Debt: Exploring Your Options

Debt is a pervasive issue that affects millions of people worldwide. It is hard to escape debt, especially if you...
Read More

How Will Bankruptcy Affect My Child Support Obligations?

Parenting can be tough, and it's even harder when you're facing financial difficulties. Struggling with debt and bankruptcy can cause...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions