Bankruptcy does adversely affect your credit for several years, but perhaps no worse than what your current credit state already is. From a future lender’s perspective, bankruptcy is a liability that they have to protect themselves against. Those who declare bankruptcy are given the opportunity to breathe relief from current debts and start over again to rebuild their future credit worthiness. A Chapter 7 & Chapter 13 bankruptcy can be reported for no more than 10 years. Under either Chapter, as early as one year after a bankruptcy, the negative effects begin to dissipate as time passes. While filing bankruptcy may be the only viable option, it should never be filed lightly, without consideration of all the consequences and a thorough evaluation of your situation.
PRACTICE LIMITED TO CONSUMER BANKRUPTCY
Some large firms, medium firms and sole practitioners specialize in, well everything! We limit our practice to Bankruptcies, it's all we do!
WE PRIMARILY FILE CHAPTERS 13 & 7
This is what we are best known for in the Southern District of Florida. We also file Chapter 11 for Business Reorganization.
PERSONAL APPROACH BY THE PARTNERS
When you make an appointment with Bigge & Rodriguez, you meet with Mr. Bigge or Mrs. Rodriguez right from the first consultation and through every step of the process.
Florida and federal bankruptcy laws allow most debtors to keep many of their assets including Social Security, Pensions and Retirement Accounts (401K, IRA), Pre-paid College Funds and 529 Plans, up to 100% of the equity in your Homestead, up to $1000 equity in your automobile, $1000 in personal property (up to $4000 in personal property if you do not receive the benefit of Homestead Exemption).
In bankruptcy, assets in excess of your allowed personal exemptions, or nonexempt assets such as real estate, automobiles and boats, willbe liquidated by a Chapter 7 Trustee or you will reorganize in a Chapter 13. Certain other debts cannot be discharged in bankruptcy and you will continue to pay them as if you had never filed for bankruptcy, such as back child support, alimony and some tax debts. Student loans will not be discharged unless you can prove them to be a financial burden, but there is a very high standard to meet.
A satisfied clientChapter 13