Lanigan & Lanigan, P.L.
831 W. Morse Blvd., Winter Park, Florida 32789
407-740-7379
Contact Us
Bankruptcy
Pre-qualifying is a very important tactic to try achieving before applying for a mortgage refinancing after a bankruptcy. Approximately two years after bankruptcy, a borrower can try to qualify for a mortgage for a home or a property after careful credit repair and rebuilding activity. Is Refinancing After a Bankruptcy Possible? Part of working with Winter Park bankruptcy, foreclosure and mortgage workout attorneys Roddy Lanigan and Eric Lanigan is having experienced attorneys who will work with clients and provide financial guidance to help rebuild life after bankruptcy. Pre-qualifying for a mortgage can help to give a borrower an idea of how much money they can borrow. When evaluating bankruptcy mortgage lenders, look for those who have a post-bankruptcy program. There will be firms everywhere but you have to research them and talk extensively with them to confirm their experience. Check to see if the lender is solid and reliable and has been in business for many years. If by chance you are turned down by all the firms that you have applied with then it means that you need to work on credit history and then come back and repeat the application process. Or if a borrower has again acquired some debt, bill consolidations may help. Some loan specialists will help a borrower compare rates and the fees between different companies. This helps the applicant get the advantage of competition in the lending market rather than just dealing with one company at a time. If you’ve filed for Chapter 13 you will have no time limit on when you can apply for mortgage refinancing after a bankruptcy. However, you’ll need...
Bankruptcy
Do you understand your bankruptcy options, exemptions and what debts cannot be discharged through bankruptcy? There are certain items that cannot be eliminated through bankruptcy and wage earners/debtors who owe federal, state, and local taxes; alimony; child support; or federal student loans are still responsible for these debts, which cannot be discharged. Understanding Bankruptcy Options, Exemptions It’s important to have an attorney who will be able to offer answers and alternatives in bankruptcy for these debts and for other debts that can be eliminated. The knowledge of finance and economics as a foundation is important. Consult with Eric and Roddy Lanigan Winter Park bankruptcy attorneys to determine what steps you should take and what options they recommend. The Lanigans are experienced attorneys for clients seeking aggressive representation with a personal touch. Common Bankruptcy Exceptions to Exemptions (Will not be ELIMINATED through bankruptcy) Child support Alimony Taxes Secured loans Federal student loans Property Exemptions There are generally few non-exempt items in the state of Florida an individual would have to worry about losing. Disregard family, friends, associates who recant horror stories about having to relinquish furniture, TVs, electronics, computers, etc., relax. No one’s backing a truck up to your home to take away your things to sell to satisfy your creditors. However, property exemptions exist in every state that clarify what items you own that creditors can and cannot take. What happens on occasions where you hear of people losing property is that they’ve voluntarily pledged the property as security for a loan and don’t make the payments. But in general, in Florida, creditors aren’t forcing the sale of your property to...
Bankruptcy
There is a many ways to rebuild credit after bankruptcy. Buying a used car after bankruptcy is one method for those who want to prove they can secure a loan and make on-time payments. Used car dealers are often more lenient in their lending practices, making the purchase of a used car possible after bankruptcy. Dealerships sometimes penalize consumers for bad debts and bankruptcies, and if it’s not a major auto dealership, the interest rates may be higher, but individuals can use this type of financing to re-establish a sound car payment history. Rebuild Credit After Bankruptcy After bankruptcy, consumers should ensure that current reports accurately reflect discharged accounts. Go online and obtain free credit reports and scores from the three major reporting bureaus and review them carefully. Contact Experian, Transunion and Equifax personally to ensure that any discrepancies, such as outdated filings and settled accounts are properly recorded. Timely payments with unsecured cards made available after bankruptcy also contribute to rebuilding positive credit histories. Rebuilding credit after bankruptcy sometimes requires benefitting from someone else’s good credit. Financial consultants recommend asking a family member or friend to co-sign on a small bank loan and paying it off as quickly as possible. But remember: co-signers are equally liable for unpaid bills; to avoid damaging a co-signer’s solvency, faithfully honor loan commitments. Another tactic is to finance furniture and appliances on a 90-day-same-as-cash basis also affords an opportunity to demonstrate trustworthiness. Store records will substantiate consistent payments and can be used to validate a former debtor’s renewed reliability. Once good credit has been re-established, take it easy. Consumers will have to take a...
Bankruptcy
Winter Park bankruptcy attorney Eric Lanigan knows there are a lot Chapter 13 bankruptcy myths. That’s why it is wise to consult a bankruptcy attorney when considering filing bankruptcy in Florida. Chapter 13 is a type of debt relief where debtors set up a payment plan to repay some or all of their debts over the course of three to five years. In order to file for Chapter 13, debtors must make a regular income.A means test will determine if your income is above or below the state median income and will determine the repayment period time span. A Chapter 13 bankruptcy is a fairly straightforward process but it is frequently misunderstood. Common Chapter 13 Bankruptcy Myths Myth: the bankruptcy court trustee will determine your reorganization plan Although a trustee may object to your proposed repayment plan, it’s ultimately up to you to determine a plan to appropriately pay back your creditors. The trustee’s only job is to ensure that you abide by the terms of the bankruptcy agreement. Your goal is to protect creditors while still following bankruptcy laws that are designed to protect the parties in the bankruptcy process. If the trustee does reject your plan, you can appeal that decision to the court. Myth: those who pass a means test cannot file for Chapter 13 Passing a means test doesn’t make you ineligible for Chapter 13. Rather, it opens up an alternative form of bankruptcy while keeping Chapter 13 as an available option. Chapter 7 bankruptcy doesn’t have many of the benefits of Chapter 13. Chapter 13 lets you consolidate debts into a plan and extend...
Bankruptcy
If you file Chapter 7 bankruptcy to try to stop a foreclosure, consult an attorney to understand going through a foreclosure during bankruptcy.When you decided to file Chapter 7 to stop a pending foreclosure, it may be because you don’t have enough money to pay all your bills.You need one more paycheck, the cost of living keeps going up and your monthly paycheck isn’t keeping up with the price of gas, food and everything else you value. You can’t save because all your money goes to paying bills but you’re juggling what you think is a pretty good balance until you receive a Notice of Default. Maybe you hold on for another few weeks, but then a process server hands you a Lis Pendens. If you live in Florida, it means that you are facing bankruptcy and foreclosure at the same time. Going Through Foreclosure During Bankruptcy Before you either panic or stick your head in the sand and pretend it will all work out, meet with Winter Park bankruptcy and foreclosure attorneys Roddy Lanigan and Eric Lanigan in their Winter Park offices. Maybe a lender has initiated foreclosure proceedings against you because you owe three months worth of back payments. So you hear from a friend who tells you to consider bankruptcy. Or a family member gets to you and said you can solve it all by filing bankruptcy. A Chapter 7 bankruptcy may be able to wipe out all of your debts. With the guidance of Orlando bankruptcy and foreclosure attorneys Roddy Lanigan and Eric Lanigan you may be able to stop a pending foreclosure, keep your house, and...
Bankruptcy
Celebrity R&B performer T-Boz, also known as Tionne Watkins, from the group TLC, has had to file Chapter 13 bankruptcy due to medical bills and diminished child support according to court papers filed on her behalf. Celebrity Files Bankruptcy Due to Medical Bills Medical challenges and debt that have come from sickle cell anemia has forced Watkins to file for Chapter 13 bankruptcy protection for a second time. Documents filed with the court showed that several factors contributed to the need for her to seek an attempt at financial protection through bankruptcy. The singer has suffered for years with the genetic disease which can cause sudden and frequent hospital stays and excessive medical treatment. While celebrities filing bankruptcy draw attention, the Federal Court rules still apply. In a Chapter 13 Bankruptcy, individuals get to keep property. Creditors receive less money than is owed. A debtor offer creditors a payback plan within three to five years. This plan details all transactions and the length of time and payments that will occur. Repayment starts 30 to 45 days later. Creditors cannot try to collect an individual’s debt except in bankruptcy court. The process takes from between three to six months. Watkins has also reportedly not been receiving child support and in addition has an upside down home to loan value which has purported to have contributed to the singer’s need for bankruptcy protection By filing for Chapter 13 personal bankruptcy and not Chapter 7, the R&B performer like anyone else will try to create a plan demonstrating her ability to repay successfully to her creditors. The debt will have some elements eliminated through...
Bankruptcy
No need to get overwhelmed about gathering bankruptcy paperwork. Pulling together the paperwork to file for bankruptcy Chapter 7, Chapter 11 or Chapter 13 is usually more work in your mind than it is in reality. When you meet with Winter Park bankruptcy attorneys Eric Lanigan and Roddy Lanigan, you will be provided a list of documents to gather. No one can do that but you and you’ll need to do so quickly so that your paperwork can be filed. You hold the key to your timeline. It needs to be very carefully compiled and thoroughly arranged for your bankruptcy attorney. You don’t want to leave any questions, poor quality copies or missing pages. Take your time and do it right. Take Time Gathering Bankruptcy Paperwork You pay your bills every month. You know your debt and what you own, what you owe, who holds your mortgage, your insurance company and you keep your tax returns. But you have to show backup paperwork to actually accompany the financial story that you are sharing with the Federal Court in which you’re asking to file for bankruptcy. While you may innocently have forgotten a bill, a debt or an asset and think that it doesn’t matter in the long run, it actually does matter. Immediately. Upon completing paperwork for your attorneys, pulling your tax returns your insurance on your home, checking account statements, business accounts, investments and business losses and profit and loss statements, at the very end of the paperwork is a form that you sign. It states that everything that you submitted was provided accurately and with your knowledge. So if...
Bankruptcy
Alabama Files Largest Chapter 9 Bankruptcy Jefferson County, Alabama files largest Chapter 9 bankruptcy making it the biggest Chapter 9 filing in municipal bankruptcy history in the U.S. Alabama’s most populous county (658,000) filed after the commission and receiver entered into a comprehensive term sheet setting forth a framework for the resolution of the sewer system crisis which put the county more than $4 billion into debt by an alleged corruption-riddled sewer project. The chapter of the U.S. Bankruptcy Code providing for reorganization of municipalities was enacted in 1934 during the Great Depression. Since then, there have been fewer than 500 municipal bankruptcy petitions filed. Interesting in the process was the fact that the county’s biggest creditor, JPMorgan Chase, had wanted to avoid bankruptcy, according to company spokeswoman Jennifer Zuccarelli who said that they “offered very substantial financial concessions to make the deal happen.” Alabama Chapter 9 Bankruptcy This is a Chapter 9 bankruptcy which provides the municipality protection from creditors. Meanwhile it develops and negotiates a plan for adjusting its debts. That reorganization is usually achieved by extending debt maturities, reducing the amount of principal or interest, or refinancing the debt by obtaining a new loan. Since 1981, 37 cities, towns, villages and counties nationwide have filed for Chapter 9 bankruptcy. That includes six in Alabama now that Jefferson County has filed. Jefferson County, with a population of about 660,000, has some of the richest neighborhoods in the country as well as pockets of urban poverty and...
Bankruptcy
There are many Florida bankruptcy options and it is a good idea to talk through those options with an experienced bankruptcy attorney. Bankruptcy laws were enacted to help someone who is in a great amount of debt to be released from personal liability for specific debts. The debtor is no longer legally required to pay the debts that the court rules as discharged. The U.S. is experiencing a challenging economic situation. Bankruptcy and Florida Bankruptcy Options Every day, you see more friends, family, neighbors losing their jobs, falling behind on their mortgages, and drowning in debt that they never imagined. A few years ago, most never believed that they’d be in this situation, but as the economy drops and unemployment increases, people are losing their homes, their cars, and their way of life. Thankfully, there is bankruptcy for times like this. In the U.S., bankruptcy is governed by a federal law adopted in 1898 and amended many times, such as with the Bankruptcy Reform Act of 1978 and in the spring of 2005. In 1934, the Supreme Court wrote about the purpose of the bankruptcy law: “It gives to the honest but unfortunate debtor…a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.” Once a judge declares a bankruptcy discharged and you are released from debt, you’ll feel relief from harassing creditors and debt collectors because the discharge is in fact a statement to your creditors to expect less money from you in repayment. The fundamental goal of the federal bankruptcy laws is to give debtors a financial “fresh...
Real Estate
Central Florida rental property owners must understand the Florida real estate law on evictions when you have a tenant who breaks the lease or damages property. Owning a rental property can be pleasant when renters pay on time, care for the property and renew the lease. This is easier said than done. Many times the property value diminishes because of damage caused by a renter or because of the unthinkable activities that take place in the home.Renters may try to bring in additional housemates, break expensive appliances, repaint or decorate in horrendous colors, put dings in doors, scratches in the walls, and leave behind filthy bathrooms. The Florida Real Estate Law on Evictions Many renters pay late, don’t pay their utility bills, damage property, and get behind in rental payments. In fact, you can expect any or all of those things to occur at some point. But these items should be covered in the amount of the security deposit held. These are manageable problems and each landlord has a deposit that covers these cursory issues. But what does a landlord do when the renter brings in pets that tear out carpet, rip holes in the walls, doors or floors. What does a landlord do when the rent is late again or the rent hasn’t been paid for two months? What is the liability when someone is seriously injured on the property but the renters haven’t maintained renters insurance? What if there’s a shooting or drugs sold or found on the property? Eric Lanigan and Roddy Lanigan are Orlando and Central Florida real estate attorneys with 35 years and four years of...
