Lanigan & Lanigan, P.L.
831 W. Morse Blvd., Winter Park, Florida 32789
407-740-7379
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Bankruptcy
Starting over and starting fresh. Eliminating all debt and worry from stressful bills. These are the first things people describe after filing a Chapter 7 bankruptcy. Winter Park Bankruptcy attorneys Eric Lanigan and Roddy Lanigan say that frequently the most thankful clients they work with are those who file bankruptcy and feel the relief from debt. Bankruptcy Chapter 7, Chapter 11, Chapter 13 provide individuals with an opportunity to stop and figure out life financial goals. It’s a chance to decide what’s really important and make changes to perhaps live a more simple or even a downsized lifestyle. It is likely time to assess spendig habits and change investment and savings strategies after using a legal action to stabilize the damage made by excessive debt–no matter how it was incurred. Chapter 7 bankruptcy is a fairly drastic legal proceeding taken by a debtor to be discharged from personal debt. However, the thought of what it actually entails may include mages of auctioneers selling off all of a family’s possessions while the family sits on the porch watching memories being sold. The Lanigans will tell you this doesn’t happen. Years ago, bankruptcy may have seemed to be a drastic measure. It may have brought up phrases like cash only payment, homelessness, flat broke, penniless. Not today. While bankruptcy Chapter 7, Chapter 11 or Chapter 13 is still a drastic action to take, it’s very common. There is no doom and gloom of old nor is it necessarily a poor financial decision. For many people who have been divorced, who have been ill for years, had cancer, or had terrible personal...
Bankruptcy
When you have filed bankruptcy one of the first things that you should do is try to begin rebuilding your credit score. This means saving, not overspending, living within your means, and holding onto money. You may think that you shouldn’t take out loans or credit cards if it is not necessary, but in actuality you should take out credit and demonstrate your ability to hold the loan, line of credit, using it on occasion and paying it back in full. This responsible behavior is easier said than done for a person who has failed for a long time to handle credit properly has to suddenly change spending habits and handle money cautiously in order to rebuild credit. It’s important to follow a path of fiscal maturity if one is going to rebuild credit and establish a successful financial profile. This means that those who have filed bankruptcy begin saving, do not overspend, live within your means, pay creditors on time, delay large purchases, stay away from shopping sprees, frivolous vacations or other irresponsible spending habits. A key proponent of this is not taking out loans or credit cards unless use is sporadic and only used to demonstrate the ability to make timely payments. Winter Park bankruptcy attorneys Eric Lanigan and Roddy Lanigan have handled bankruptcies and foreclosures since 1976 and 2007 respectively. Part of the value in working with the Lanigans is the knowledge and the experience that they have. The Lanigans will share information and guide those who file bankruptcy with tips on how to rebuild credit. Responsible Use of a Personal Loan: Step One One of the ways to...
Bankruptcy
Spending up to your credit limit on your credit card and then filing bankruptcy and submitting that credit card debt as part of the bankruptcy is a serious crime because it’s intentional and fraudulent. If you’re going to file Chapter 7 bankruptcy or Chapter 13 bankruptcy, you submit debts for discharge and list creditors who you owe and the balance. Your credit cards should not be used after speaking with a bankruptcy attorney for any reason. The debt incurred on the card has to be legitimate or the spending will be flagged and you can be charged with fraud. Winter Park bankruptcy attorney Eric Lanigan and Roddy Lanigan will explain in the first meeting with new clients the do’s and don’ts of bankruptcy. There are basic practices that can be questionable in court. This includes: Inflating or lying about assets Shopping or spending sprees Shopping for expensive items after you consult with an attorney Take a vacation, buy a new wardrobe Spend over $500 multiple times and then file bankruptcy Spend up to your credit limit in increments under $50 Use your credit card when it has been recalled Suddenly buying luxury items Cash withdrawls up to the limit Using the credit card knowing you can’t afford to pay it, i.e., you lost your job Applying for credit and filling the card before filing bankruptcy Carefully consider credit card use if you know or are even considering filing bankruptcy. You need to be aware that all of your bank accounts, savings, investment accounts are up for review and intense scrutiny when you file bankruptcy. This applies to Chapter 7 bankruptcy,...
Bankruptcy
Liens Without Consent During Bankruptcy Creditors will do what they have to in order to get their money. When you fall behind in your bills but you own property, have assets and haven’t filed bankruptcy, you’re open to liens. Liens are a tool commonly used in bankruptcy by creditors. Creditors can get some of these liens without the individual’s agreement. These types of liens are called non-consensual. Non-Consensual Liens Creditors Use 2. Statutory lien: created automatically when certain statutory bankruptcy requirements are met 3.Tax lien: If you don’t pay your taxes you’ll find out that the government can impose a tax lien on you 1. Judicial lien: After an individual has been sued and a money judgment imposed, a judicial lien can be imposed against an individual creating a property lien Other steps including recording the lien with state or local government may need to be taken to turn a judgment into a lien. It’s important to know what creditors are legally allowed to do. Find out what you can do to stop the creditors from coming after your assets by meeting with Winter Park, Florida, bankruptcy attorney Eric Lanigan or Roddy Lanigan. The Lanigans will ask questions, provide answers and options specific to your financial situation. Eric Lanigan has 36 years of experience in bankruptcy...
Bankruptcy
Bankruptcy can give a debtor relief from debt that is too deep to repay but only bankruptcy attorneys determine which bankruptcy to file Chapter 7, Chapter 11, or Chapter 13. Winter Park bankruptcy attorneys Eric Lanigan and Roddy Lanigan find clients overwhelmed by debt that includes credit cards, is caused by divorce, medical debt, homes under water and foreclosure. When this occurs bankruptcy Chapter 7, Chapter 11 or Chapter 13 are possible relief options. What Bankruptcy Can Do Bankruptcy can stop creditors from harassing you and allow you to take a new look at your financial picture to find a plan that will allow you to start over. Bankruptcy Chapter 13 may be the plan to help to deplete the amount owed by a debtor. But many people do not know much about this process and how to sort through the legalities, contractual obligations and laws. This is where the Lanigans will help you. You should always hire an attorney to handle your bankruptcy and decide whether Chapter 7, Chapter 13 or if your business is involved, Chapter 11 bankruptcy is an option for you. Video Explains Difference Between Chapter 13 and Chapter 7 Watch this video on the Lanigan’s YouTube channel to see what the differences are between Chapter 7 Bankruptcy Chapter 13 Bankruptcy Filing – Florida. Do-it-yourselfers can help themselves by downloading free forms for filing bankruptcy but have no clue the danger they can be in. A lot depends on how complicated the person’s financial affairs are and how well he or she understands business law. The lawyer’s responsibility is to know the law and advise...
Bankruptcy
Orlando area bankruptcy attorneys Eric Lanigan and Roddy Lanigan explain the facts and myths of filing bankruptcy are. What exactly does it mean to file Chapter 7 bankruptcy? In a word, bankruptcy is dissolution of debt. Bankruptcy as a legal proceeding is the dissolving of a person’s assets to repay creditors. Things You Should Know About Bankruptcy While no one generally loses their home in a Chapter 7 bankruptcy proceeding, a Chapter 7 could be used to slow, hinder, even stop a foreclosure proceeding. Florida is among a minority of states that allows filers of bankruptcy to discharge debts and be able to still live in their homestead. If you’re considering bankruptcy as a legal move, it helps to know that. Any debtor filing bankruptcy action can have certain items of property exempted from the trustee’s order to sell a person’s belongings for debt reduction. There are some states that allow as little as four thousand dollars equity to be kept in a house while others don’t allow a house to be touched. Very few items can actually be taken from debtors by bankruptcy trustees to be sold, but the amount of the property exempted in actuality is small. In Florida there are very specific possessions mentioned as being exempt from being liquidated for sale. Florida generally has few non-exempt items an individual would have to worry about losing. No one’s backing a truck up to your home to take away your things to sell to satisfy your creditors. Don’t listen to family, friends, associates who tell stories about having to relinquish furniture, TVs, electronics, computers, etc., relax. Bankruptcy Property Exemptions Vary by State...
