Tag Archive for: Clearwater bankruptcy lawyer

A book titled 'Bankruptcy Law' beside a wooden gavel.

Should you Reaffirm a Mortgage In Bankruptcy?

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My answer is NO.

Reaffirming a debt means that if you don’t make your future payments the mortgage company can sue you for the balance due after your Chapter 7 is over.   The debt is not discharged if you reaffirmed the debt.

Debtors are required to reaffirm their car loans in bankruptcy in order to keep their vehicles, even if they are current on the vehicle.  Mortgages are a different story however, you can just continue to pay the mortgage and keep the house, without reaffirming the debt.  The mortgage company will not report your mortgage payments, on time or late to the credit bureaus.

If the debtor stops paying the mortgage and has not reaffirmed the debt, the most the mortgage company can do is to take the house back in foreclosure.  The mortgage company will not be able to obtain a personal judgment against you if you have a bankruptcy discharge and did not reaffirm the debt.

This means if later you decided you do not want to keep the home any longer, you can strategically default on your mortgage and just walk away.  This is very valuable.

Why would you consider reaffirming a mortgage then?

If the mortgage company agrees to modify one or more of the mortgage terms so the mortgage is more beneficial to the Debtors you could consider reaffirming.   Possible modifications terms could be a lower interest rate, a lower monthly payment, placing arrears on the back end of the mortgage, or deeming a default current on your credit report.

Reaffirming a mortgage debt requires a complex multi-page agreement which must be approved by the Court.  Unless the Debtor is receiving a  benefit from the mortgage company, most attorneys will not sign off on the agreement and it will require a court hearing.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney

Stack of old papers on a wooden table with a curtain background.

Bankruptcy Process

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We’re committed to taking a full-service approach to each client’s unique personal and business needs.   From the day you retain us we are prepared to stop those harassing creditor phone calls. even if bankruptcy is not the right solution for you, we can recommend other debt-relief options,  Call us at (727) 410-2705 for a free consultation. Day, evening, and Weekend appointments are available.   You will not be handed off to a junior associate or a paralegal. All of your meetings will be with Carol A. Lawson, who will also personally return your calls and emails.  Bankruptcy is a complicated process and you deserve personal attention.

Our Easy 3-Step Bankruptcy Filing Process:

Step 1 Schedule a FREE initial consultation

During your free phone or zoom consultation, we will go over the intake sheet you have filled out and returned to our office prior to the meeting.  We will spend whatever time is necessary to answer your questions and analyze your case.   You will provide an estimate of the cost of your case based upon your unique circumstances.  We will provide you an intake package by email along with a contract for services following your consultation if you wish to proceed.

Step 2 Collect your paperwork and complete your package

You will then need to start collecting your documents and information. Once you are ready to proceed we will schedule an in-office appointment for you, generally about an hour to retain us and go over your documents and information.  After this appointment we will send out a personal property appraiser to appraise your household belongs and vehicles.   We also will send you a link to fill out to pull your credit report.  You should also take your Credit Counseling Class at this time.

Next we prepare your bankruptcy petition and schedules.  We then email the documents to you to review.

Step 3 Review your petition 

Next we schedule you an in-office visit, generally an hour, to go page by page through your petition and schedules with the attorney and review the documents for accuracy.  You will sign your documents at this visit.   Once the petition and schedules are executed we will electronically file them with the court.

Step 4  341 Creditors Meeting

Once your case is filed we will email you your case number immediately after filing. You should then take your  Debt Management Class.  In a few days we will email you again with the date and time of your creditor’s meeting, and instructions.  Your creditor’s meeting called a 341 after the section of the bankruptcy code, will be within 30 days of the date of your filing.

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney

 

3D illustration of coronavirus particles in yellow-green with spike proteins.

COVID-19 Office Social Distancing Changes

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Our firm remains intact by both office and remote technology and is ready and able to assist anyone needing our services by phone and Zoom or Google Duo video call.   We are also executing, witnessing, and notarizing documents in the office, and receiving our paying clients in the office.  Masks are required, and will be provided to you if you do not have one.  We also provide gloves, hand sanitizer and disinfect the conference room between each client with Clorox wipes.  All safety procedures such as gloves, masks, hand sanitizer and Clorox bleach disinfect sanitizing are being taken for your safety.

We can receive documents through email, fax or in-person drop off upon arrangement with Carol or you may drop them off at the office with the receptionist.     

Payments can be made over various electronic methods, through the mail or in-person by arrangement. Call (727) 410-2705.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, #Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

 

A gavel and a bankruptcy court hearing sign.

April-July Special- Chapter 7 at $795

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Clearwater Bankruptcy Attoreny

Chapter 7- $795 excludes filing fee includes personal property appraisal and credit report.

Chapter 13 -$1,500 down balance through plan capped at $4,500 plus administrative fees excludes filing fee, includes personal property appraisal and credit report, does not include loan modification ( additional $1800 through plan).

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

Gavel resting on financial documents and dollar bills.

FLORIDA EXEMPTION STATUTES

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One of the most common questions I receive are what exemptions are available to me in Florida under bankruptcy.   I have  included a list of  exemptions under the bankruptcy code below.   Please remember to contact us for your bankruptcy needs .

FLORIDA EXEMPTION STATUTES

DescriptionLAWMax Individual AmountMax Joint Amount
Alimony Child SupportFSA § 222.201, U.S.C.§  522(d)(10)(D)UNLIMITED
Annuity Contract ProceedsFSA § 222.14UNLIMITED
Any Personal Property – No Benefit from Homestead ExemptionFSA § 222.25(4)$4,000.00$8,000.00
Benefits – Public Employee Optional Retirement ProgramFSA § 121.4501UNLIMITED
Benefits Exempt From Taxes And ExecutionFSA §112.359UNLIMITED
Benefits Payable Under The SystemFSA §121.091UNLIMITED
Church Benefit Plans And Church Benefit BoardFSA § 624.4031UNLIMITED
Community College Optional Retirement ProgramFSA § 1012.875UNLIMITED
Coverdell Education Savings AccountFSA § 222.22UNLIMITED
Crime Victims§ Compensation -100%FSA §960.14UNLIMITED
Disability Insurance Benefits-100%FSA § 222.18UNLIMITED
Disposable Earnings-Head of Family Earning<=$500/Week-100%FSA § 222.11(2)(a)UNLIMITED– 6months
Disposable Earnings-Head of Family Earning>$500/WeekFSA § 222.11(2)(b)UNLIMITED6 months
Disposable Earnings-Non-Head of Family 30x Minimum WageFSA § 222.11(2)(c )UNLIMITED6 months
Florida Retirement System Preservation Of Benefits PlanFSA §121.1001UNLIMITED
Fraternal Benefit Society BenefitsFSA § 632.619UNLIMITED
Gov. Employees Deferred Comp. BenefitsFSA § 112.215UNLIMITED
Health Aids – PrescribedFSA § 222.25(2)UNLIMITED
Health Insurance – Retired Public EmployeesFSA § 112.363(9)UNLIMITED
HomesteadFla. Const., Art. 10, §4(a)(1), FSA §§ 222.01, 222.02UNLIMITED
Hurricane Savings AccountFSA § 222.22UNLIMITED
Life Insurance – Cash Surrender ValueFSA § 222.14UNLIMITED
Life Insurance ProceedsFSA § 222.13UNLIMITED
Materials Furnished to Improve Real PropertyFSA § 713.17UNLIMITED
Mobile Or Modular HomeFSA § 222.05UNLIMITED
Moneys Paid In To Or Out Of Medical Savings AccountFSA § 222.22UNLIMITED
Motor Vehicle (One)FSA § 222.25(1)$1,000.00$2,000.00
Motor Vehicle Financial Responsibility DepositsFSA § 324.161UNLIMITED
Optional Retirement Program For The State University SystemFSA §121.35UNLIMITED
Partner’s interest in Partnership PropertyFSA §620.153, 620.8307UNLIMITED
Partnership InterestFSA §620.8504UNLIMITED
Payment For Injuries/Death (Hazardous Occupations)FSA § 769.05UNLIMITED
Pension Money Of U.S. PensionerFSA § 222.21(1)UNLIMITED
Personal PropertyArt. 10 § 4(a)(2), FSA § 222.061$1,000.00$2,000.00
Preneed Funeral Contract Consumer Protection Trust FundFSA §497.456UNLIMITED
Property Listed In 11 USC 522(d)(10)FSA § 222.201UNLIMITED
Qualified Tuition ProgramsFSA § 222.22UNLIMITED
Retiree Health Insurance SubsidyFSA §185.50UNLIMITED
Retiree Health Insurance SubsidyFSA §185.50UNLIMITED
Retirement Benefits – Firemen-100%FSA § 175.241UNLIMITED
Retirement Benefits – Police-100%FSA § 185.25UNLIMITED
Retirement Benefits – Public Employee-10FSA § 121.131, 121.055 (6)(e)2UNLIMITED
Retirement Benefits – State & City Empl.FSA § 122.15UNLIMITED
Retirement Benefits – Teachers-100%FSA § 238.15UNLIMITED
Retirement, Profit-Sharing BenefitsFSA § 222.21(2)UNLIMITED
Senior Management Service ClassFSA §121.055UNLIMITED
Social Security, Public Assistance BenefitsFSA § 222.201, U.S.C.§  522(d)()(10)(A)UNLIMITED
Tax refunds or CreditsFSA § 222.25(3)UNLIMITED
Unemployment Compensation BenefitsFSA § 443.051(2)UNLIMITED
Veteran’s BenefitsFSA § 744.626UNLIMITED
Wages, Travel Expenses, Unemployment Compensation PaymentsFSA § 222.16UNLIMITED
Workmen’s Compensation BenefitsFSA § 440.22UNLIMITED

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

A man in a suit reviewing documents at a desk.

How to Shelter Assets from Nursing Home Care Costs

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  1. Give monetary gifts to your loved ones before you get sick.
  2. Hire an attorney to draft a “life estate” for your real estate,…
  3. Place liquid assets into an annuity.
  4. Transfer a portion of your monthly income to your spouse.
  5. Shelter your money through an irrevocable…

For more information contact our office.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

Medicaid, Nursing Home, Savings, Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Carol A. Lawson, Esq.

Person stressed and overwhelmed at work with head in hands.

What Debts Does Chapter 13 Bankruptcy Wipe Out?

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  • Credit Card Debts
  • Hospital Bills
  • Most Lawsuit Judgments
  • Wage Garnishments
  • Payday Loans
  • Utility Bills
  • Foreclosure Deficiency Balances
  • Vehicle Repossession Deficiency Balances

In Chapter 13 Bankruptcy, the remaining balance of these debts, if any, is WIPED OUT after making monthly payments for 36-60 months.  Schedule your free bankruptcy consultation to learn more.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

Road surface with a yellow 'BANKRUPTCY' stamp.

How Do I Qualify For a Chapter 13?

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    • I Have Regular Income
    • I Don’t Qualify For A Chapter 7 under the Means Test
    • I want to Save a House in Foreclosure
    • I want to Save A Car From Repossion
    • My Unsecured Debts (Like Credit Cards) Are Under $419,275*
    • My Secured Debts (Like Mortgages) Are Under $1,257,850*  

 

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

  • *As of April 1, 2019
Golden Lady Justice statue with a blurred US flag background.

What Does Chapter 13 Do?

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  • Stop Foreclosures
  • Cure Mortgage Loan Delinquency
  • Reduce Principal Debt On Car Loans
  • Wipe Out Second Mortgages
  • Stop IRS Collections

 

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

A gavel and a bankruptcy court hearing sign.

Qualifying For A Chapter 7

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  • Your Income Barely Covers Your Bills
  • You Can Pass The Bankruptcy “Means Test” Or You Have Exceptional Circumstances
  • You Don’t Have Enough Assets To Pay Off Your Debts
  • Your Debts are Non-Consumer
  • You are a Business Liquidating

 

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: calh@gate.net

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate