Bankruptcy

Consumer Bankruptcy at Five-Year High

Data compiled by the National Bankruptcy Research Center shows over 1.5 million consumers filed bankruptcy petitions in 2010. That is a 9 percent increase from the previous year. Many people have been affected by the economic downturn and have been forced to file for bankruptcy protection. If you are behind on debts due to overwhelming medical bills, credit card debt or job loss, filing Chapter 7 or Chapter 13 could help you protect your home and cancel some or all of your unsecured debt. If you...

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Staff 4/1/2011 1:00:00 PM Comments(1)

Credit Counseling Required for Bankruptcy

Two education requirements are mandatory to comply with bankruptcy laws. Any individual filing for bankruptcy must complete a credit counseling course prior to filing the bankruptcy case. Once the case is filed, the individual must complete a financial management course. Failure to complete either of the courses and file the appropriate certificates with the court will prevent the court from discharging or canceling your debts. The bankruptcy education courses are available in person, by phone o...

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Staff 3/4/2011 11:51:00 AM Comments(0)

Medical Bankruptcy

On average, more than 50% of bankruptcies filed each year are due to overwhelming medcal bills. The average individual either had more than $5,000 or 10 % of their pretax income in medical bills, mortgaged their home to pay for medical bills, or lost significant income due to a long term illness. Another staggering statistic is about three-quarters of the individuals filing bankruptcy due to medical bills had health insurance and most were college-educated home owners. If you have been strugglin...

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Staff 2/16/2011 3:39:00 PM Comments(0)

Chapter 13

If your mortgage is behind or your car is about to be repossessed, Chapter 13 bankruptcy may let you pay those past due debts over time. By filing Chater 13, you may be able to stop foreclosure proceedings. You may also be permitted to pay the past due amount on your mortgage or car loan over three to five years. If you'e facing foreclosure and considering Chapter 13, call The Wheelock Law Firm at 407-648-5742 to schedule a consultation.

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Staff 2/11/2011 9:28:00 AM Comments(0)

Filing Chapter 7

The total U.S. revolving debt is $852.6 billion, 98% of which is credit card debt. With the current unemployment rate, it's no wonder over 13% of credit cards are in default. If you have high credit card debt, serious unexpected medical expenses, or other debts you just can't pay, Chapter 7 bankruptcy may cancel many of your debts. You may obtain a fresh start, free from the obligation to pay those impossible debts! There is a maximum income level to qualify for Chapter 7. If you do qualify, in ...

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Staff 2/7/2011 10:47:00 AM Comments(0)

Struggling with Debt?

Struggling with credit card debt, unemployment and making your mortgage payment? Filing bankruptcy may be an option for you. Financial problems may happen to anyone. A divorce, long illness, loss of job or other reasons beyond your control may make it impossible for you to pay your debts. Bankruptcy may provide you debt relief and help protect your property. If you're considering Chapter 7 or Chapter 13, call The Wheelock Law Firm at 407-648-5742 to schedule a consultation. We are bankruptcy att...

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Staff 2/3/2011 11:01:00 AM Comments(0)