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Bankruptcy FAQ

Learn More about Regaining Your Financial Independence

When your debt becomes unmanageable, one option worth considering is to file for bankruptcy. With the right Orlando bankruptcy attorney on your side, you can feel more confident about your outlook and reduce the stress involved with starting this new chapter in your life. At the Law Offices of Jose E. Lopez, P.A., we can help you work through the legal proceedings and handle all dealings with your creditors. Get started today by contacting our firm for a free consultation about what to do next.

Call (407) 410-3173 now or contact our firm online to get started.

Below, we have posted answers to questions we frequently hear from our clients. Our goal is to help you work yourself back into financial independence. If you have further questions concerning bankruptcy and how to get started, we are here to help.

What is bankruptcy?

Debt can destroy a person’s well-being. While most people hope to be able to repay their debts and regain control of their finances, this doesn’t always happen. Bankruptcy is a solution to clear all debts or structure plans to repay them in order to help a person have control of their life again.

Won’t bankruptcy hurt my credit?

No, not necessarily. For most of our clients, reaching bankruptcy only occurs once the person realizes they can no longer pay their bills, meaning that their credit score is not likely very high. While Chapter 7 bankruptcy liquidates your assets, Chapter 13 does not have to significantly hurt your credit score. In these cases, the debtor agrees to pay down their debts over time through structured payments. In any case, bankruptcy only stays on your credit report for up to seven years.

Will I lose all my property in bankruptcy?

In cases of Chapter 7 bankruptcy, creditors are still within their rights to repossess unpaid property. In Chapter 13, however, you will be able to hang onto more of your valuables.

What is the difference between Chapter 7 and Chapter 13?

Chapter 7 is a debt forgiveness plan that eliminates all unsecured debt. The downside of this solution is that creditors can still claim your property to satisfy outstanding balances. For those who wish to pay down their debts but need to put an end to soaring interest rates, Chapter 13 offers repayment solutions which allow a person to agree to specific terms of repayment that will allow them to get rid of debt without

Are all forms of debt eliminated with bankruptcy?

No. Bankruptcy will not satisfy secured debt such as a home payment. You also cannot use bankruptcy to pay off child support debts, student loans, fines for breaking the law, tax debt within the last three years, and anything you fail to report on your bankruptcy filing.

How can a lawyer help with bankruptcy?

An experienced Orlando bankruptcy attorney can give you answers to all your questions, as well as help you prepare for complications you may not have considered. Your lawyer can also handle all the challenges that come with dealing with creditors to ensure you are able to sleep at night. Their goal is to make sure you have the smoothest transition possible into financial freedom.

Call (407) 410-3173 now to schedule your free consultation.

Meet Attorney Jose E. Lopez

Your Devoted Legal Advocate
  • Jose E. Lopez Photo
    Jose E. Lopez

    Founding Attorney

    Attorney Jose E. Lopez Fighting for Clients’ Rights in Orlando Jose Lopez is the founding partner of the Law Offices of Jose E. Lopez, which focuses in criminal defense and bankruptcy law . Mr. Lopez began his career as a public defender for the Ninth Judicial Circuit of Florida. As a public defender, he handled thousands of cases ranging from misdemeanors to serious felonies. Having the assistance of an experienced legal professional following criminal charges can help a person in more ways ...
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