Are SBA Loans Dischargeable in Bankruptcy?

Are SBA Loans Dischargeable in Bankruptcy?

Many borrowers are surprised to learn that SBA loans are a dischargeable debt in a bankruptcy even though they are government backed loans unlike a lot of tax debt or federally backed student loans which are not. During the course of the pandemic many businesses took...

How Can I Keep a Credit Card

How Can I Keep a Credit Card

When you file for bankruptcy, you are required to list all your assets and creditors. You cannot pick and choose which creditors you want to continue to pay and which ones you want to discharge in your bankruptcy. If you have a zero balance at the time of filing your...

Can I Rent After Bankruptcy

Can I Rent After Bankruptcy

Many people ask whether they will be able to rent a home or apartment after filing for bankruptcy. The answer to that question is yes. It’s a common requirement to fill out an application with the property manager and have them run your credit history. Within a short...

What is a Bankruptcy Trustee?

What is a Bankruptcy Trustee?

When you file your case both a bankruptcy trustee and a judge are assigned to your case. Their roles are very different. The person with whom you’ll have your 341 hearing is actually the bankruptcy trustee not the judge. The trustee is usually either an attorney or a...

Will My Co-Signor Be Affected By My Bankruptcy?

Will My Co-Signor Be Affected By My Bankruptcy?

It is quite common for bankruptcy clients to have friends, family members, or significant others as co-signers due to their inability to obtain credit without co-signer. Our clients are oftentimes concerned about how their decision to file for bankruptcy might affect...

Will Bankruptcy Prevent Me From Selling My House

Will Bankruptcy Prevent Me From Selling My House

If you sell your homestead prior to filing your bankruptcy case, the trustee can look to see how that money was spent. For example if two years ago you received $50,000 from proceeds from the sale of your house, how was that money spent? Did you use the money on...

Can I sell my car prior to filing bankruptcy? 

Can I sell my car prior to filing bankruptcy? 

A common question clients ask is whether they can sell or trade in their vehicle prior to filing bankruptcy.   If using the Florida exemptions your allowed to have $1,000 in equity in your car.  If you rent then  you would have another $4,000 in exemptions to use on a...

How to Rebuild Your Credit after Bankruptcy 

How to Rebuild Your Credit after Bankruptcy 

People often ask how to rebuild their credit after filing bankruptcy or how bankruptcy will affect their credit.  I am often asked if filing for bankruptcy will destroy credit for 10 years.  Most clients are surprised at how quickly their credit rebounds after filing...

Call Now Button