5 Signs You Might Need a Personal Bankruptcy Attorney for Your Financial Situation

In today’s economic landscape, financial challenges can arise unexpectedly, leaving individuals overwhelmed and uncertain about their options. Whether it’s mounting debt, foreclosure threats, or creditor harassment, navigating through such crises can be daunting without proper guidance. Fortunately, seeking the assistance of a knowledgeable personal bankruptcy attorney can provide clarity and relief in times of financial distress. Here are five signs that indicate you may need the expertise of a personal bankruptcy attorney to navigate your financial situation effectively:

1. Overwhelming Debt Burden:

If you find yourself drowning in a sea of debt with no feasible repayment plan in sight, it may be time to consult a personal bankruptcy attorney. Whether your debt stems from credit cards, medical bills, or loans, an attorney can assess your financial situation and recommend the best course of action. They can help you explore options such as Chapter 7 or Chapter 13 bankruptcy to alleviate your debt burden and achieve a fresh financial start.

2. Threat of Foreclosure:

Are you facing the risk of losing your home due to missed mortgage payments or foreclosure proceedings? Seeking the assistance of a personal bankruptcy attorney can provide crucial support in negotiating with lenders and exploring alternatives such as mortgage modification or bankruptcy protection. With their expertise, you can work towards saving your home and securing a more manageable repayment plan that aligns with your financial circumstances.

3. Persistent Creditor Harassment:

Dealing with incessant calls and letters from creditors can be emotionally taxing and exacerbate an already stressful situation. A personal bankruptcy attorney can intervene on your behalf and put an end to creditor harassment through legal channels. By filing for bankruptcy, you can benefit from an automatic stay, which prohibits creditors from engaging in collection activities, providing you with much-needed relief and peace of mind.

4. Declining Credit Score and Financial Health:

A deteriorating credit score and worsening financial health are red flags that warrant immediate attention. Rather than allowing your financial situation to spiral out of control, consulting a personal bankruptcy attorney can help you assess your options and take proactive steps to mitigate further damage. By addressing your financial challenges head-on, you can begin the journey towards rebuilding your credit and securing a more stable financial future.

5. Complex Legal Procedures:

Bankruptcy laws can be intricate and complex, making it essential to enlist the expertise of a qualified attorney who specializes in personal bankruptcy cases. From navigating paperwork and court proceedings to representing your interests effectively, an experienced attorney can guide you through the entire bankruptcy process with professionalism and diligence. By entrusting your case to a knowledgeable legal professional, you can minimize errors, expedite proceedings, and maximize the likelihood of a favorable outcome.

In conclusion, recognizing the signs that indicate the need for a personal bankruptcy attorney is the first step towards regaining control of your financial future. Whether you’re facing overwhelming debt, foreclosure threats, or creditor harassment, seeking legal guidance can provide invaluable support and peace of mind. With their expertise and advocacy, a personal bankruptcy attorney can help you navigate through challenging times and emerge with a fresh start towards financial stability and independence.

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts.

Lewis & Jurnovoy PCB
2714 West 15th St
Panama City, FL 32401
(850) 913-9110
https://www.LewisandJurnovoy.com

Navigating Bankruptcy Court: A Guide to Understanding the Process

Facing financial distress can be overwhelming, but bankruptcy court offers a structured path to help individuals and businesses navigate these challenging times. Understanding what to expect during the bankruptcy process can alleviate some of the uncertainty and stress associated with it. In this article, we’ll provide a comprehensive guide to what happens during bankruptcy court proceedings, empowering you with the knowledge to approach the process with confidence.

Understanding Bankruptcy Basics:

Before delving into the court proceedings, it’s crucial to grasp the basics of bankruptcy. Bankruptcy is a legal process designed to provide individuals and businesses with relief from overwhelming debt. There are different types of bankruptcy, including Chapter 7, Chapter 11, and Chapter 13, each with its specific eligibility criteria and procedures.

Filing for Bankruptcy – The bankruptcy process typically begins with filing a petition in the appropriate bankruptcy court. This involves disclosing detailed financial information, such as income, assets, debts, and expenses. Depending on the type of bankruptcy, individuals may need to undergo credit counseling before filing.

Automatic Stay – Once the bankruptcy petition is filed, an automatic stay goes into effect. This legal injunction halts creditors’ collection efforts, including foreclosure proceedings, wage garnishments, and harassing phone calls. The automatic stay provides breathing room for debtors to reorganize their finances without the constant pressure of creditors.

Meeting of Creditors (341 Meeting) – After filing for bankruptcy, debtors are required to attend a meeting of creditors, also known as a 341 meeting. During this meeting, the debtor, their attorney, and a bankruptcy trustee appointed by the court discuss the debtor’s financial situation. Creditors may attend and ask questions about the debtor’s assets and liabilities, providing an opportunity for transparency and resolution.

Negotiating a Repayment Plan – In Chapter 13 bankruptcy, debtors work with creditors and the bankruptcy trustee to develop a repayment plan. This plan outlines how the debtor will repay their debts over a specified period, typically three to five years. The court must approve the repayment plan, ensuring it is feasible and fair to both the debtor and creditors.

Liquidation and Asset Distribution – In Chapter 7 bankruptcy, a trustee may liquidate non-exempt assets to repay creditors. However, many assets are protected under state and federal bankruptcy exemptions, allowing debtors to retain essential property. The trustee distributes the proceeds from liquidated assets among creditors according to priority rules established by bankruptcy law.

Confirmation Hearing:

In Chapter 13 bankruptcy, debtors must attend a confirmation hearing where the court reviews and approves their repayment plan. Creditors have the opportunity to object to the plan if they believe it unfairly favors the debtor. If the court confirms the plan, debtors must adhere to its terms to successfully complete the bankruptcy process.

Discharge of Debts:

The ultimate goal of bankruptcy is to obtain a discharge of debts, relieving the debtor of the legal obligation to repay them. In Chapter 7 bankruptcy, eligible debts are discharged shortly after the liquidation process. In Chapter 13 bankruptcy, debts are discharged upon successful completion of the repayment plan. However, certain debts, such as student loans and tax obligations, may not be dischargeable.

Navigating bankruptcy court can be daunting, but with a clear understanding of the process, individuals and businesses can approach it with confidence. From filing the initial petition to obtaining a discharge of debts, each step of the bankruptcy process serves a specific purpose in providing relief and a fresh financial start. By working with experienced legal counsel and adhering to the requirements set forth by the court, debtors can emerge from bankruptcy with their finances on a more stable footing.

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts.

Lewis & Jurnovoy PCB
2714 West 15th St
Panama City, FL 32401
(850) 913-9110
https://www.LewisandJurnovoy.com

The Importance of a Fair Debt Collection Tone of Voice

Debt collection can be a stressful and overwhelming experience for many consumers, especially when they are subjected to unfair or abusive collection practices by debt collectors. One way to alleviate this stress is by ensuring that debt collectors use a fair and respectful tone of voice when communicating with consumers. In this blog post, we will discuss the importance of a fair debt collection tone of voice and how it can benefit both consumers and debt collectors.

Builds Trust:

A fair and respectful tone of voice in debt collection isn’t just about etiquette; it’s about offering support during challenging times. For individuals facing financial hardship, exploring various debt relief options becomes pivotal. Debt collectors wield a unique opportunity to guide individuals through these turbulent waters, presenting alternatives beyond conventional payment structures. These options encompass negotiating payment plans, settling debts for reduced amounts, or even considering more structured approaches like Chapter 7 Bankruptcy. When debt collectors exhibit fairness and respect towards consumers, it can help establish a positive relationship, which can lead to a better debt collection experience.

Reduces Stress and Anxiety:

Debt collection can be a daunting experience for many consumers, and an insensitive or aggressive tone of voice can exacerbate their stress and anxiety. On the other hand, a fair and compassionate tone of voice can help alleviate their stress and anxiety, making the debt collection process less daunting.

Encourages Communication:

A fair debt collection tone of voice can also encourage communication between debt collectors and consumers. When consumers feel that debt collectors are listening to them and treating them fairly, they are more likely to communicate openly and honestly with them. This can help debt collectors to better understand the consumer’s situation and create mutually beneficial payment arrangements.

Improves Recovery Rates:

Using a fair debt collection tone of voice can improve recovery rates for debt collectors. When consumers are treated with respect, they are more likely to pay their debts promptly and voluntarily. This can help debt collectors to achieve their goals faster and with fewer collection efforts.

Builds a Positive Reputation:

A fair debt collection tone of voice can also help debt collectors build a positive reputation in the industry. When consumers are treated fairly and respectfully, they are more likely to recommend the debt collector to their friends and family, which can help the debt collector to acquire new business.

Overall, a fair and respectful tone of voice is crucial in debt collection. It can help build trust, reduce stress and anxiety, encourage communication, improve recovery rates, and build a positive reputation for debt collectors. By adopting a fair debt collection tone of voice, debt collectors can benefit both themselves and their consumers, leading to a better debt collection experience for all parties involved.

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts.

Lewis & Jurnovoy PCB
2714 West 15th St
Panama City, FL 32401
(850) 913-9110
https://www.LewisandJurnovoy.com

Knowing When to File for Bankruptcy as a Small Business

Small businesses are the backbone of the economy, with over 30 million small businesses operating in the United States. Unfortunately, it’s not uncommon for these businesses to face financial difficulties. In times like this, it may be a good idea to start considering bankruptcy. Though it’s often seen as the last resort, there are times when it can be a strategic move for a small business. In this blog from experts in bankruptcy assistance, you’ll find tips to help you understand when it’s time to think about filing for bankruptcy as a small business.

Unable to Pay Debts

One of the most significant signs for a small business when it comes to knowing if you should file for bankruptcy is being unable to pay its debts. When a business has more debts than assets, it is often difficult to stay up to date with necessary payments. This results in late fees and an accumulation of debt over time. Financial difficulties like this can be alleviated through bankruptcy.

Can’t Negotiate with Creditors

As a struggling business, it’s likely that you’ve tried negotiating with creditors to extend payment terms. If none are forthcoming, then filing for bankruptcy could be the best way to move forward. Bankruptcy gives you the opportunity to discharge some of those debts and negotiate a repayment plan for the remaining ones.

Legal Action Against Your Business

When facing legal action from creditors, including collectors taking legal action against your assets, it’s time to consider filing for bankruptcy. It allows you to keep most of your assets and halts creditors’ efforts. This will give you some more time to regroup, reassess your options, and decide on the best way to move forward.

Conclusion

Bankruptcy is not a simple decision to make for any small business. It’s a stressful situation, and you may be worried about your financial future, and the future of your business. Remember to review all your options and consider what is best for your circumstances. Don’t try to figure it out on your own; make sure you work with a professional to guide you through any financial challenges. If you need assistance with bankruptcy or want a free debt consolidation consultation, reach out to Lewis & Jurnovoy today.

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts.

Lewis & Jurnovoy PCB
2714 West 15th St
Panama City, FL 32401
(850) 913-9110
https://www.LewisandJurnovoy.com

How to File for Bankruptcy and Keep Your Car

If you’re struggling financially and worried about losing your car, there are options available that can help you keep your vehicle. In this blog post, two top bankruptcy attorneys will discuss the different types of bankruptcy, how they impact your car ownership, and what you can do to protect your vehicle during the bankruptcy process.

Chapter 7 vs. Chapter 13 Bankruptcy

Two main types of bankruptcy that individuals may file are Chapter 7 and Chapter 13. In a Chapter 7 bankruptcy, your non-exempt assets are sold to pay off your creditors, and any remaining debt is forgiven. If you want to keep your car in a Chapter 7 bankruptcy, you may be able to “redeem” the car by paying its current value to the creditor in a lump sum. This could be beneficial if your car’s value is less than the amount you owe on your auto loan. Alternatively, you can negotiate with your lender to reaffirm your auto loan, which lets you maintain your regular payments and keep your car.

In a Chapter 13 bankruptcy, you make a repayment plan to pay off your debts for 3 to 5 years. Because this type of bankruptcy allows you to keep your essential assets, including your car, you can still make regular payments on your car loan and hold onto your vehicle.

Steps to Keep Your Car During Bankruptcy

To keep your car during the bankruptcy process, you may need to take specific steps such as:

• Negotiate with your lender: You may be able to renegotiate loan terms, interest rates, or repayment schedules to make your car loan more manageable.
• Redeem your car: As mentioned earlier, redeeming your car may be an option if you’re eligible.
• Reaffirm your loan: You can reaffirm your car loan with your lender, indicating that you’ll continue to pay it after the bankruptcy process.
• Declare bankruptcy without surrendering: If your car is leased, you can declare bankruptcy without surrendering the vehicle, as long as you continue to make payments on the lease.

Conclusion

Filing for bankruptcy can be a tough decision, but with the right legal advice and strategy, you can keep your car and get back on track financially. Whether you choose a Chapter 7 or Chapter 13 bankruptcy, it’s important to work with an experienced attorney who can guide you through the process and make sure your rights are protected. Remember that there are options available, even if you’re struggling with debt and fear losing your car. If you need help from a lawyer to declare bankruptcy, contact Lewis & Jurnovoy today.

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts.

Lewis & Jurnovoy PCB
2714 West 15th St
Panama City, FL 32401
(850) 913-9110
https://www.LewisandJurnovoy.com

The Effect of Personal Bankruptcy on Your Business

Personal bankruptcy can be a tough financial decision that can have lasting effects on your finances and your credit history. However, what some people don’t realize is that it can also affect their business. Bankruptcy can have significant consequences on your business if you own a sole proprietorship or a partnership. Many people mistakenly believe that declaring personal bankruptcy will have no impact on their business, but that is often not the case. In this blog post, a Chapter 7 assistance lawyer will explore the effect of personal bankruptcy on your business.

Liability and Business Operations

If you are a sole proprietor or in a partnership, your business is not considered a separate entity from your finances. In this case, any debts you have accumulated on a personal level will also affect your business. This can make it difficult to operate and comply with normal business procedures, such as obtaining loans or credit. Your business partners may also be affected by your bankruptcy, and it is important to discuss this with them.

Losing Your Business

Personal bankruptcy may lead to the loss of your business if it is not structured properly. If your creditors are searching for a way to recover their debts, they may attempt to seize your business assets. This can lead to significant financial strain and a total loss of operations. Furthermore, if your business has established credit, it too could be affected by your decision to claim personal bankruptcy.

Legal Implications

As bankruptcy claims are legal proceedings, there are various legal implications that you should be aware of. Any contracts or agreements that you may have signed with other businesses or individuals may be affected. They may be voided or terminated, which can have serious consequences for your business relationships and future business prospects.

Business Bankruptcy Filing

If your business is a separate entity, such as a Limited Liability Company or Corporation, declaring personal bankruptcy may have little to no effect on the business. However, it is important to speak to a bankruptcy lawyer before making any decisions. As there are multiple types of bankruptcy, filing a business bankruptcy could be the best course of action for your business.

In conclusion, personal bankruptcy can have serious consequences for your business, especially if it is a sole proprietorship or partnership. It is important to consult with a bankruptcy lawyer to understand the effects of your financial decisions on your business. Plan to discuss your situation with business partners, prepare to potentially lose your business, be mindful of legal implications, and in some situations, a business bankruptcy is a good option. Do not take the potential effects of personal bankruptcy lightly and be sure to do your due diligence.


Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts.

Lewis & Jurnovoy PCB
2714 West 15th St
Panama City, FL 32401
(850) 913-9110
https://www.LewisandJurnovoy.com

How to Avoid Vehicle Repossession During Bankruptcy

Filing for bankruptcy is a cumbersome experience, and this process can be even more overwhelming if your car is on the brink of being repossessed. Fortunately, Lewis & Jurnovoy’s team of experienced bankruptcy specialists have some helpful advice to prevent repossession during such trying times. Let us look at how you can safeguard your vehicle throughout this complex process. 

Safeguard Your Rights as a Debtor  

Filing for bankruptcy will immediately trigger an automatic stay on all debt collection activities such as property repossession. This means that creditors are not allowed to take your car while the bankruptcy process is occurring. But keep in mind that this measure of protection only applies if you properly and promptly file for bankruptcy. If any issues arise with paperwork or deadlines are missed, then the automatic stay could be removed again, leaving you exposed to asset seizure once more. 

Take Action to Shield Your Vehicle 

First, learn about state and federal laws concerning repossessions so that you comprehend what rights apply to debtors like yourself. Moreover, don’t wait – contact the creditor immediately when it’s clear repo might happen – this will let them understand your dilemma and possibly form a partnership with you to find an effective solution. Finally, if warranted, consider investing in insurance or storage coverage to ensure that your vehicle remains secure and guarded during the entire process. 

Filing for bankruptcy can feel like a frightening and daunting process, particularly when you’re worried about the repossession of your primary mode of transportation. However, with Martin Lewis and Steven Jurnovoy from Lewis & Jurnovoy by your side every step of the way, it doesn’t have to be so overwhelming! They understand what an immense burden this situation may present—so let them assist you in making sure everything goes as smoothly as possible. 

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts.   

Lewis & Jurnovoy, P.A.  
2714 West 15th St  
Panama City, FL 32401  
(850) 913-9110  
https://www.LewisandJurnovoy.com   

How to Deal with Harassment and Deception by a Collection Agency

If you are dealing with harassment or deception by a collection agency, you are not alone. It is important to note that lawmakers did not anticipate collection agencies using unethical and illegal tactics to get people to pay debts. However, there are steps that you can take to protect yourself from these tactics and fight back against the bill collectors. But how do you know when it is time to contact an attorney? In this blog post, an experienced bankruptcy attorney will discuss what harassment and deception are and how to recognize them.  

What is Harassment by a Debt Collector? 

• Abusive language. A debt collector may not use profane or abusive language when speaking with you about your debt. This rule applies to all communications, including phone calls and written correspondence—not just face-to-face conversations. 

• Threats. Threats of violence, being arrested, or taking away your property are off-limits. 
• Repeated calls. Debt collectors cannot call multiple times a day to harass you. If you receive repeated messages on your answering machine from the same debt collector, this is harassment. 

What is Considered Deception by a Debt Collector? 

Collection agencies must be completely transparent. This means that they cannot engage in any deceptive practices, such as pretending to be a law enforcement officer or using a fake company name. Also, they are not allowed to give false credit information about you to anyone. Finally, debt collectors may not threaten any sort of seizure of your property or wages unless they have been authorized by law to do so. 

If you now realize you are being deceived or harassed by a collection agency, don’t hesitate to contact a professional for help. The attorneys at Lewis & Jurnovoy in Panama City Beach, FL are experienced in dealing with debt collectors and can help you take the necessary steps to protect yourself from abuse.  

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts. 

Lewis & Jurnovoy PCB  
2714 West 15th St 
Panama City, FL 32401 
(850) 913-9110 
https://www.LewisandJurnovoy.com  

4 Common Reasons for Bankruptcy

Filing for bankruptcy can be overwhelming, and many people do not even know if they should be filing for bankruptcy. Most people who are filing for either Chapter 7 or Chapter 13 bankruptcy don’t even know the most common reasons for filing. A lot of people simply cannot keep up with their bills and other payments, and they struggle to get back on track. To offer bankruptcy assistance, Lewis and Jurnovoy will be providing these reasons for bankruptcy: 

1. Medical Bill Expenses 

Unfortunately for people living in the United States, medical bills can be very costly. If you or a member of your family develops medical problems, you will likely have to pay lots of medical bills, which can drain your savings and put you behind on payments. This is especially true in situations such as a car accident, where other expenses are involved as well. This can cost you lots of money, and many people end up filing for bankruptcy because of the number of medical bills they cannot afford to pay.  

2. Losing Your Job 

If you get laid off or if your company simply shuts down, you may lose your job. This may be your only source of income, so you no longer have a way to pay the bills. Job searching can take a while, and the bills may start to stack up. What are you supposed to do? Even if you use all of your savings, you will never be able to catch up. This leads many people to file for bankruptcy because they cannot afford to pay their bills.  

3. Bad Credit Card Usage 

Using a credit card can definitely cause some problems, especially if you aren’t using it effectively. If you aren’t making your payments on time, then your payments each month will keep getting bigger or more interest will be added. Be careful to only purchase certain things with your credit card and don’t overspend.  

4. Divorce 

Getting a divorce is something that is very costly between the legal fees and every other cost. This can cause you to have extra debt or payments that are hard to pay off, which can lead to you filing for bankruptcy.  

If you need a foreclosure lawyer or any other bankruptcy services, contact Lewis and Jurnovoy today. 

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts. 

Lewis & Jurnovoy PCB 
2714 West 15th St 
Panama City, FL 32401 
(850) 913-9110 
https://www.LewisandJurnovoy.com

Why Car Insurance is a Necessity During Chapter 13 Bankruptcy

If you are thinking about filing for Chapter 13 bankruptcy, then one of the first things on your mind may be how this will affect your car insurance. You don’t want to risk losing out on coverage and ending up in a more serious accident because you’re uninsured! Luckily, there is no need to worry – all drivers who enter Chapter 13 bankruptcy can maintain their current auto insurance policy even after they file. Read on for more information about what this entails and why it’s so important that you do not get rid of your car insurance during Chapter 13 bankruptcy.  

In Chapter 13 bankruptcy, you may still be required to make certain car “payments” in order to maintain your policy. These can include an insurance premium or a portion of the monthly payment that is set up by your lender for you on behalf of your car payments if they are included as part of the agreement. To avoid having these additional expenses added onto what could already feel like too much debt from other sources, it’s important not to cancel your vehicle coverage during this time period – even though technically you are no longer making any payments and don’t owe anything outside of court fees and provisions. 

Some drivers mistakenly assume that because their loan has been paid off (in most cases) through Chapter 13 bankruptcy proceedings, then they will have to pay less on their car insurance. However, this is not the case! If you do cancel your auto coverage during Chapter 13 bankruptcy proceedings, then that means you will have no protection in the event of an accident and will be liable for all costs incurred from such a wreck. 

You don’t want to risk being uninsured when it comes time to file for Chapter 13 bankruptcy – make sure you maintain your current coverage at all times if you wish to avoid any unforeseen expenses or risks down the line! In addition, don’t forget to get in touch with an experienced bankruptcy attorney immediately if you are considering filing for bankruptcy. 

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts. 

Lewis & Jurnovoy PCB 
2714 West 15th St 
Panama City, FL 32401 
(850) 913-9110 

https://www.LewisandJurnovoy.com