what are the benefits and drawbacks of declaring bankruptcy in Florida?
83501
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1045232
The folks to contact on this issue are the Department of Business and Professional Regulation - Division of Florida Land Sales, Condominiums and Mobile Homes:\nhttp://www.state.fl.us/dbpr/lsc/index.shtml\n\nThere is also a section of the State of Florida website devoted to other housing-related groups and issues:\nhttp://www.stateofflorida.com/Portal/DesktopDefault.aspx?tabid=48\n\nYou may be able to find more assistance there.\n\nHope this helps!
851696
I know I am not answering your question, but I do not know a place to send you for the information you are looking for.  I am a Landlord of 23 properties in Florida and I can answer specific questions you may have, to a limit.  Insurance you need to have homeowners Insurance and tell your agent that the house will be a rental, that way you are not paying for all items in the house, unless of course you are renting a furnished unit.  I have no special account, all the monies go into my personal account and all repairs come out of my personal account.  You will pay tax on the profit you make, I am not an accountant so I don't know what your tax implications would be, an accountant can answer that for you.  If you have any other questions please feel free to add details post another question or you can email me through Yahoo Answers.  Good Luck KG
758177
I'm not doing all your homework for you, but I'll help.  The biggest disadvantage of sole proprietorship is liability.  If the business goes belly up, they can come after your personal assets.  Also you are more susceptible to lawsuits.
315962
Mr. Leibowitz is certainly the most accurate, although I'm going to have to differ with him on a couple of small points.\n\nI think you've got that dismissal is bad and discharge is good (from the debtor's viewpoint).  From the creditor's viewpoint, dismissal is good, discharge is bad.\n\nThe federal bankruptcy courts have an excellent system known by the acronymn Pacer (Public Access to Court's Electronic Records).  With the debtor's name or social security number, it is a fairly simple process to look up the status of any person's bankruptcy.  Do not rely on any of the credit bureaus for information, they are notoriously inaccurate.  I've included the Pacer website in the sources, however, it is a pay site and you have to sign up for an account.  The service is usually free if you care to visit the local bankruptcy court.\n\nAs for the effect of Chapter 7 versus Chapter 13 on the credit, my experience is that Chapter 7 is far more beneficial on the credit than Chapter 13.  You are completed with the bankruptcy within three and a half months, rather than three to five years.  You can immediately start working on improving your FICO scores and getting your life back with a Chapter 7 and you can't do that with a Chapter 13 where you are tied to the court.\n\nAlso, misinformation abounds about how long items must remain on your credit.  The definitive source is the Fair Credit Reporting Act.  I've included the FTC site with the full transcript of the act, but the applicable term for any bankruptcy is ten years.  The applicable code provision reads as follows:\n\na) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:\n\n(1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years. \n\nSorry, that is probably way more than you asked for, but the misinformation was mindboggling.
208930
It depends on how your 'Community Property' laws in your state work.\nYou might want to retain a financial lawyer, or at least hunt around for a decent one experienced with financial matters.\nI would suggest you keep your finances separate, too. Stuff only in your name and such.\nOn a side note...even if it is illegal, creditors will say anything and everything to get money out of you. \nIf they've already discharged the bankruptcy, creditors cannot bother you anymore unless you fail to pay on agreed terms setup in the bankruptcy. We only had a couple of issues with creditors, but, as soon as you say it was discharged and give them the doc-number,they'll usually leave you alone.
853898
They r going to go after property that u have....also, bankruptcy is a pain for the future i've heard when trying to ...rebuild yourself.
1178531
The rules are complex, and violation of the rules carry some harsh penalties. I would suggest you consult with a competent securities lawyer in FL.\n\nThe link below provides some basic information from the SEC.
50195
That means thanks to president bush's new law the chapter 13 will not confirm the bankruptcy because for whatever reason he/she feels you have the means (money) to repay your unsecured debt! Now you will go into court before the chapter 13 trustee, and file for 13 instead of 7 or 11! This means additional attorney fees, trustee gets paid a fee too (of course), as well as months more of your time spent in a court room. Thank God we elected Bush! He has screwed up so many areas of our judicial system. Look at his brainstorm idea working for Medicare's drug plan.
922268
There are loads and loads of penalties under bankruptcy law, both federal and state, as well as under various criminal code sections relating to bankruptcy.  There is, however a section under federal law (Title 18, Section 157) that is actually called "Bankruptcy Fraud."  Under this section, the maximum jail time is 5 years.  Here is the link to it:\n\nhttp://www.law.cornell.edu/uscode/html/uscode18/usc_sec_18_00000157----000-.html
925813
Bankruptcy shoudl be a last resort! \n\nIf you have to file, then make sure you know what your getting into. \n\nHere are some very informative bankruptcy facts. \n\nhttp://www.expert-credit-advice.com/bankruptcy_facts.htm\n\n\nGood luck to you!
374354
What you need and what you get could be different.\n\nThe filing fee is now $274 going up to about $299.  You can file a petition to waive this if you are filing "in forma pauperis" but you would have to file an affidavit proving your inability to pay with your current assets or your cash flow.\n\nYou need credit counseling before you file and that costs $50 or so, but you can get that waived if you are truly indigent.  You need financial education after you file and the cost for that is also less than $50.  You can get that waived if you are truly indigent.\n\nBeing truly indigent and proving it to a court's satisfaction are two different propositions.  \n\nIf you are really truly indigent, your best bet is to look for a legal aid attorney to help you.  The new bankruptcy law is complicated and there are many traps in it for the unwary.\n\nYou can file a bankruptcy petition by yourself "pro se" but it is getting harder and harder to do so effectively.
345465
Below is a link to the Florida Garnishment Laws.  Since you were not real specific on what you need, this is the whole think.  ;)
340115
The whole Chapter 7 bankruptcy process takes about four to six months, costs $200 in filing and administrative fees without an attorney, and commonly requires only one trip to the courthouse. \n\nTo file for bankruptcy, you fill out a two-page petition and several other forms. Then you file the petition and forms with the bankruptcy court in your area. Basically, the forms ask you to describe: \n\n \n\nyour property \nyour current income and its sources \nyour current monthly living expenses \nyour debts \nproperty you claim the law allows you to keep through the bankruptcy process (for example most states let you keep clothing, household furnishings, Social Security payments you haven't spent and other basic items) \nproperty you owned and money you spent during the previous two years, and \nproperty you sold or gave away during the previous two years. \nFiling for bankruptcy puts into effect something called the "automatic stay." The automatic stay immediately stops your creditors from trying to collect what you owe them. So, at least temporarily, creditors cannot legally grab (garnish) your wages, empty your bank account, go after your car, house or other property, or cut off your utility service or welfare benefits. \n\nUntil your bankruptcy case ends, your financial problems are in the hands of the bankruptcy court. It assumes legal control of the property you own (except your exempt property, which is yours to keep) and the debts you owe as of the date you file. Nothing can be sold or paid without the court's consent. You have control, however, with a few exceptions, of property and income you acquire after you file for bankruptcy. \n\nThe court exercises its control through a court-appointed person called a "bankruptcy trustee." The trustee is mostly interested in what you own and what property you claim as exempt. This is because the trustee's primary duty is to see that your creditors are paid as much as possible on what you owe them. And the more assets the trustee recovers for creditors, the more the trustee is paid. \n\nThe trustee goes through the papers you file and asks you questions at a short hearing, called the "creditors' meeting," which you must attend. This meeting is not likely to last more than five minutes. Creditors may attend, too, but rarely do. \n\nAfter this meeting, the trustee collects the property that can be taken from you (your nonexempt property) to be sold to pay your creditors. You can surrender the property to the trustee, pay the trustee its fair market value or, if the trustee agrees, swap some exempt property of equal value for the nonexempt property. If the property isn't worth very much or would be cumbersome for the trustee to sell, the trustee can "abandon" the property-which means that you get to keep it. Very few people actually lose property in bankruptcy. \n\nIf you've pledged property as collateral for a loan, the loan is called a secured debt. The most common examples of collateral are houses and motor vehicles. In most cases, you'll either have to surrender the collateral to the creditor or make arrangements to pay for it during or after bankruptcy. If a creditor has recorded a lien against your property, that debt is also secured. You may be able to wipe out the lien in bankruptcy. \n\nIf, after you file for bankruptcy, you change your mind, you can ask the court to dismiss your case. As a general rule, a court will dismiss a Chapter 7 bankruptcy case as long as the dismissal won't harm the creditors. Usually, you can file again if you want to, although you may have to wait 180 days. \n\nAt the end of the bankruptcy process, most of your debts are wiped out (discharged) by the court. You no longer legally owe your creditors. You can't file for Chapter 7 bankruptcy again for another six years from the date of your filing.
960288
Yes it is. Bankruptcy is a good thing. The only bad thing about it is that it stays on your credit for 7 years.
449887
For bankruptcy purposes, yes your house will not be included in the assets being liquidated depending on the laws of the state.  But typically not (not here in FL at least)\n\nIn a foreclosure situation, no... just makes it a little harder to foreclose.
997484
If you want a correct answer... ask a local bankruptcy attorney!\n\nI would suggest you read the article "New Bankruptcy Law – Where’s The Consumer Protection?" you can view it at:\nhttp://www.sandiegolawyerforyou.com/san-diego-bankruptcy-law-update.htm\n\n\nhttp://www.las-vegas-nevada-lawyer-attorney-legal-injury-defense-directory.com/las-vegas-bankruptcy-lawyers.htm\nhttp://www.san-francisco-oakland-bay-area-lawyers-attorneys-directory.com\nhttp://www.san-jose-ca-lawyers-attorneys-directory.com\nhttp://www.sacramento-ca-lawyers-attorneys-directory.com\nhttp://www.la-orange-county-lawyers-attorney-directory.com\nhttp://legal-advice-library.info/blog\nhttp://www.austin-texas-lawyers-attorneys-directory.com/austin-legal-services.htm\nhttp://www.san-antonio-texas-lawyers-attorneys-directory.com\nhttp://www.san-diego-lawyer-attorney-personal-injury-dui-car-immigration.info