In an unfavorable economy, many individuals are consider filing cases regarding bankruptcy. With the increasing rate of unemployment, the ever-increasing interest rates, and the mounting debt, many individuals find that filing the case regarding the bankruptcy is their only alternative. Since it is ideal to file one by yourself, it is sometimes difficult to go through all the steps without any aid at all. This scenario is when one calls for a good Fort Lauderdale bankruptcy lawyer to help you out.
Most people realize the reality of the current economic situation demands drastic action, especially as many people are in their second or even third year of being unemployed. That drastic action may be declaring to be bankrupt and starting over with a fresh financial record. If you are considering the pros and cons of the situation, there are a few things to consider up front.
When filing for this condition while still in marriage, filing together or separate can also impact your case. Filing separately can protect the credit standing for the non-filing spouse. The spouse that files for the condition separately from their spouse may obtain a discharge of their personally liable debt and their portion of a joint debt.
When in the condition, it can make it harder to buy a home or a car in the future or even impact your ability to rent a home. Because it is so serious and has long standing consequences, it is really necessary to consult a lawyer before you make any final decisions. A lawyer that specializes in the area can help you understand what type of bankruptcy will work for you and what types of debts can be discharged and what kinds of debts cannot be discharged.
Lawyers have the responsibility of letting their clients know everything they want to know. You should also contemplate your expectations with your personal lawyer, discover more regarding how long the hearing should take, and if the attorney will be handling the case himself, since some individuals permit their assistants or perhaps junior attorneys to deal with the case. Your attorney must inform you of the steps one ought to take to commence the court hearing, as well as help you through the entire court procedure from start to the end.
The process can complicate how debts and assets are divided in a divorce. All property is considered community property in marriage. Any property that is vulnerable for seizure during the process may be taken from the non-filing spouse after the divorce.
The down side to this type of the aforementioned state is you cannot miss a payment. If you start to miss payments, you are back to being forced to sell assets as the law states. The courts in fact will not even agree to this type of bankruptcy unless you can show that whatever forces that were in play before that made you miss payments and fall behind on your debt have been resolved such as getting a new job to make up for a lost job.
If a divorcee gets a verdict regarding the discharge to the jointly shared debt after the divorce case, the non-filing party may be left to be liable for the debt after the divorce verdict is through. For the divorcee that is court ordered to provide spousal or child support payments, these payments are not eligible for the protection. One spouse might find the wages garnished or perhaps the assets seized to satisfy the domestic support and the payments after a divorce verdict is reached. Couples who find themselves in such a predicament should hesitate but contact a qualified Fort Lauderdale bankruptcy attorney to help them out to make an informed choice. This is because the entire process is challenging if you are not aware of the right procedure to follow.
When you need legal help with a Fort Lauderdale bankruptcy, visit the web pages online at www.biggerodriguez.com today. You can see details here at http://www.biggerodriguez.com now.