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When you file for bankruptcy, any stock you own is often considered non-exempt property. This is because stock is not placed in a category of property that is exempt from creditors in your bankruptcy case. Exempt property includes retirement accounts, social security funds, and homesteads. However, the bankruptcy code provides ways that you may be able to protect your stock with your personal property exemption. When you file for bankruptcy, you are permitted a certain…
The lawyer answer is “it depends”. Yes, you can get divorced if you can agree not to fight over everything. Your spouse must also agree not to fight over everything. You should have a good game plan of the various parts of divorce, with your spouse or without. My best recommendation is that in order to keep fighting down, try to resolve as much with your spouse as possible before you meet with a lawyer.…
Yes. Getting another credit card is one way to increase your credit score. In order to know if your credit score is increasing, you should find out what your credit score is right now. Obtain your free credit score by getting your free credit report from annualcreditreport.com, or from a reputable app (such as Credit Sesame), or from a credit card statement that provides your credit score (such as Discover Card). If you are not…
Bankruptcy should not affect your pension at all. But of course, there are exceptions to every rule. First, your pension may be affected if you are receiving a lump sum payment. Second, your pension may be affected if it is not in a proper pension account. For the most part, if you are receiving regular monthly payments from your or your spouse’s former employer, you should not have any issues and the bankruptcy should not…
Bankruptcy is a legal process which allows a person who owes more money than he or she can currently repay, to either (1) repay a portion of the money over time under Chapter 11, 12, or 13, or (2) have the entire debt forgiven under chapter 7. Under chapter 7, a Debtor may be required to surrender assets to a trustee. Bankruptcy is also available to businesses, corporations, and partnerships. Even municipal governments can file…
Under Florida Statute §222.01, a debtor who files bankruptcy is allowed to exempt their homestead. This means that you may be able to keep your home. We need to answer two questions to make the determination of whether you can and should keep your home. First, do you have equity in your home? If you have equity in your home, chances are you should probably consider keeping your home. This is because you will probably…
This is one of the most common questions we receive at Feher Law. We partnered with our colleagues at Money to help you answer this important question. Having a good credit score is an important part of your financial life. At the very least, it will affect the type of interest you’ll pay on any type of loan, from home mortgages to credit cards. At most, a low credit score will seriously impact your ability…
Understanding interest rates is not something we are taught in school anymore. As adults use credit cards to pay for purchases, many do not understand how much of an impact an interest rate can have on your purchase. Our easy chart demonstrates the difference between paying a purchase off in full, paying only the minimum payment, and how much impact you can have by paying more than the minimum payment. The post My fridge costs
In the upcoming months, we will take a look at our financial situations and make difficult decisions about whether or not to file bankruptcy. Before you pick up the phone to schedule a consultation with a bankruptcy attorney, get organized. Use this helpful cheat sheet to get together the documents you will need. The post Bankruptcy: Get organized appeared first on Feher Law.…
By Emily Schroll, Paralegal Everyone has been making sacrifices over the past couple of months and the normal way of life feels like a distant memory. As states reopen and things get back to “normal”, I took a few minutes to reflect on how working remotely from home has shaped my perspective of business as usual for Feher Law. We can accomplish practically all the same tasks as before. One of the biggest differences for…