Skip to Content
chevron-left chevron-right chevron-up chevron-right chevron-left arrow-back star phone quote checkbox-checked search wrench info shield play connection mobile coin-dollar spoon-knife ticket pushpin location gift fire feed bubbles home heart calendar price-tag credit-card clock envelop facebook instagram twitter youtube pinterest yelp google reddit linkedin envelope bbb pinterest homeadvisor angies

Obtain Legal Assistance for Bankruptcy in Clearwater, FL

Are you feeling overwhelmed by the amount of debt you’re facing? Are you getting late notices from collectors or struggling to make monthly payments? Your best option may be to consider filing for bankruptcy. This legal process allows you to get out of debt and get a fresh start. There are two different types of bankruptcy relief available to you in Clearwater, FL and Pinellas County, and Carolyn Secor P.A. can help to determine which option is best for you and your situation. Our team will assess your case and find the best strategy to get you the outcome you need and deserve. It’s important to know that filing for bankruptcy isn’t a free pass to get out of debt. It will, however, relieve your financial burdens, but you will have to make an effort to rebuild your credit and start anew. Contact us today to schedule a free consultation.

Bankruptcy 

No one wants to file for bankruptcy, but filings are fairly common. There were 884, 956 American households that filed for bankruptcy last year. However, even with how common bankruptcy is, there are still people who have doubts and misconceptions about it. With many unpleasant and scary procedures, bankruptcy’s reputation is based on a few tidbits of truth and a huge amount of embellishment that is there to scare you. 

There are plenty of falsehoods and many people believe them still. The truth is, bankruptcy isn’t nearly as frightening once you understand it, and it is there to help you in the long run. While no one wants to have to file, it shouldn’t be a scary thing to file for if you need it. 

 

Here are some of the most common myths about bankruptcy: 

  • Bankruptcy Permanently Kills Your Credit 

This is one of the most common myths that people think of when they think of bankruptcy. Under no circumstances will bankruptcy completely terminate your credit. What you can expect is that you are going to have limited access to credit for the next 7 to 10 years. This is how long bankruptcy stays on your credit report, but the effects are not permanent. 

It takes a lot of work, but your credit score can go up even with bankruptcy on your credit score. Often you are going to have to start out with a secured card to help grow your credit, but once you get started, you can expect to see your score rising as long as you make your payments on time. 

  • You Can Reckless Spend Right Before You File And Not Have to Pay it Back 

This is a myth that can get you in trouble. If you spend recklessly before you file hoping to wipe out your debt, you are committing fraud. This is why you should stop using your credit cards before filing, unless you need them. This means no luxury spending and only using them for things like food, shelter, and gas. 

If you are planning on filing, then you should know that reckless spending can get your cased thrown out. 

  • Bankruptcy Discharges All Debt 

The hope is that bankruptcy is going to be a clean slate and a fresh start. However, that isn’t quite the case. While Chapter 7 bankruptcy will discharge most unsecured debts, such as personal loans, bills, credit card charges, medical bills, and back rent, it will not relieve you of your secured debts. 

Things like child support and spousal support cannot be removed under any circumstances. Student loan debt is also not able to be discharged along with most tax debts. 

  • Bankruptcy Filers Are Financially Irresponsible 

It is easy to wave off bankruptcy filets as reckless spenders, but that often isn’t the case. The people who must file often have to cause because of divorce, severe illness, or job loss. Many avoid people end up falling into more and more debt because they don’t want to feel like they failed. Bankruptcy is there to help people get out of debt, and helping them get back on their feet. 

The truth is, anyone can have to file for bankruptcy. Even the people who have their fiances in order can end up needing to file because of serious medical debt. 

If you are thinking about bankruptcy, then reach out to the team at Carolyn Sector, P.A. for more information. 

Obtain Legal Assistance for Bankruptcy in Clearwater, FL

Are you feeling overwhelmed by the amount of debt you’re facing? Are you getting late notices from collectors or struggling to make monthly payments? Your best option may be to consider filing for bankruptcy. This legal process allows you to get out of debt and get a fresh start. There are two different types of bankruptcy relief available to you in Clearwater, FL and Pinellas County, and Carolyn Secor P.A. can help to determine which option is best for you and your situation. Our team will assess your case and find the best strategy to get you the outcome you need and deserve. It’s important to know that filing for bankruptcy isn’t a free pass to get out of debt. It will, however, relieve your financial burdens, but you will have to make an effort to rebuild your credit and start anew. Contact us today to schedule a free consultation.

CarolynSecor_959016450_1440

Will I Be Able to Rebuild My Credit After Bankruptcy?

It’s a common misconception that filing for bankruptcy will ruin your credit forever. This is not true! Bankruptcy laws are in place to help individuals get a fresh start by relieving some of their debts. This means you’ll get the opportunity to rebuild your credit. You will be able to reestablish your credit, get a credit card, or buy a house after bankruptcy. You’ll just have to work a few years to rebuild it first.

Can I Save My House and Car?

In many cases, Florida law has one of the most extensive lists of exempt property in bankruptcy filings. The list includes your home and your car. However, you must keep making payments on the mortgage or auto loan in order to keep these belongings. The Homestead Exemption Law in our great state of Florida allows you to keep your home regardless of its value. The exemption is limited to $125,000 in cases where the individual has owned the home for fewer than forty months.

How Are Owed Taxes and Student Loans Affected by Bankruptcy?

For the most part, taxes are non-dischargeable in bankruptcies. However, there can be exceptions in some cases. Some federal taxes may be excepted from discharge. Any income taxes under three years old are not dischargeable in bankruptcy. As for student loans, they are generally never dischargeable, but again there may be some exceptions. Carolyn Secor P.A. can help to explain the bankruptcy process to you and help you to understand the options available to properly managing your debt. Call us today to make an appointment for a free consultation.

Contact Us Today for a Free Consultation

    Name *


    Phone*

    Email*

    Your message (optional)




    Client Review

    “Ms Secor and Sam were with me during a very dark time. They helped me through a mess I made by trying to do this on my own. She was extremely knowledgeable and had my best interest in mind. Thank you very much!!!”
    Kellie Almond
    Client Review