Winter Springs, FL Bankruptcy Law Firms & Lawyers

Although bankruptcy laws do not require someone to have a certain amount of debt, it just makes sense to only consider bankruptcy when it will do you some good and you get the biggest "bang for your buck." After all, you are only eligible to file bankruptcy once every eight years. Student loans cannot usually be eliminated in bankruptcy unless the borrower has a serious disability so exclude that from your total debt. What does that leave in debt? Would you be able to pay 1/4 of the balance of your debts over 60 months? Assuming that you still had $10,000 in debts, could you pay $2,500 off in 60 months. That works out to less than $42/month. Kind of hard to make an argument that someone couldn't pay that by tightening their belt. With this argument, the US Trustee could argue that the bankruptcy is not "in good faith." My criteria is to have my clients owe at least 50% of their annual income in debt that can be eliminated through bankruptcy. Otherwise, I want to consider other options. I have seen too many people who have eliminated a small amount of debt in bankruptcy (with someone else) only to have overwhelming medical debts or other problems a year or so down the road and be ineligible to get rid of debt that is truly overwhelming.

Most bankruptcy attorneys quote a price for their services and take payment in advance, so as not to be one of the client's creditors.? Also, in California the fee agreement must be in writing.? I can't tell from your question whether you have a written fee agreement or whether $1,000 is what your attorneys agreed to take for your case.? But if so, then they are obligated to do the work for you now.? If not, not. I hope this helps.