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Office Location
 

ORLANDO OFFICE

124 S. Bumby Ave

Orlando, FL 32803

Direct: (407) 730-4678

Office: (407) 730-4678

Fax: (866) 449-8042


 

OFFICE

2550 N Federal Hwy Ste 10
Fort Lauderdale, FL 33305

Phone: (305) 433-4495

Fax: (866) 449-8042


 
 

 

 
Faq

 

Myth: Only deadbeats file bankruptcy

Fact: From experience I can tell you that my clients are in bankruptcy due to job loss, illness, divorce and other economic crisis which may not be within their control. Most debtors would do anything they can to avoid filing bankruptcy and many have already taken out second mortgages in an attempt to catch up, but simply cannot, often due to unreasonably high interest and late fees.

Myth: Banks have lost a lot of money due to bankruptcy filings


Fact: Bank profits from credit cards are at an all time high, over $30 Billion a year. If the banks were truly suffering from bankruptcy losses they would start exercising prudence in lending again instead of giving out credit cards like candy, even to children!

Myth: Bankruptcy “costs” each American family an average of $400 a year

Fact: This figure assumes debtors could pay their bills if they did not file bankruptcy. Banks well know that debtors who need to file bankruptcy do not have the ability to repay. If they did, they would. Even if they did not file bankruptcy they would not be able to pay their debts in full. And everyone knows that those profits would not go back to other credit card users anyway, the banks would keep them.

Myth: There is a minimum amount of debt required to file bankruptcy

Fact: Theoretically you could file bankruptcy even if you only have $500 in debt, although you would need to have your head examined, since it costs $1,199 to file. But we have had clients with little or no income who have filed for amounts that would be very manageable for those with higher income. There is no minimum.

Myth: I only have to list the debt I want to get rid of on my bankruptcy.

Fact: All debt must be listed, but you can reaffirm debt such as your home, car(s) and other secured loans. You can also simply make voluntary payments to family or medical providers if you wish.

Myth: It is ok to charge up credit cards just before filing bankruptcy

Fact: Debt acquired after you realize you cannot repay may have to be paid back even if filing bankruptcy.

Myth: If you are married and file bankruptcy, your spouse must file too.

Fact: Many married debtors file alone and the spouse is not affected. Unless both are on the debt, a single filing makes more sense.

 
 
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