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In Florida , a person can file for bankruptcy whenever they have "a good faith belief that the person's financial affairs are such as to render his or her discharge from personal obligations impossible." This definition is broad and vague, so it’s up to your attorney to review your situation and determine whether you have just cause.
Some common situations in which one would qualify for filing bankruptcy in Florida include:
-when unpaid debt has been accumulating due to unemployment;
-being unable to pay debts when other assets are found, but the debtor's income is insufficient;
-inability due to illness or disability of a debtor who has dependents.
Non-dischargeable offenses that toll the statute of limitations to file bankruptcy in Florida are typically when a person is convicted and sentenced before the statute of limitations has run. Some examples include:
-felonies;
-criminal misdemeanors;
-obtaining property by false pretenses, embezzlement, certain felonies or misdemeanor theft.
When filing for bankruptcy, it is not necessary to list all of your debts in exact dollar amounts. Your case could be filed on an unsecured basis (lines of credit and credit cards), secured (car loans and mortgages) or total and permanent disability (unemployment). In Florida, an individual may choose to file under any of these categories.
The amount that can be discharged in bankruptcy is decided by the court. The laws pertaining to the amount of debts that can be discharged are governed by federal law and vary from state to state.
Any debt that was incurred within the last 90 days prior to filing may not be discharged; this is also stated under federal law (this also applies even if you did not create a new debt after 90 days, but before you filed your petition). The time period is different in each state and will likely be addressed at your creditor's meeting with the court through a separate motion. In some states such as New York, it is 180 days prior to filing for bankruptcy.
Some common situations in which one would qualify for filing bankruptcy in Florida include:
-when unpaid debt has been accumulating due to unemployment;
-being unable to pay debts when other assets are found, but the debtor's income is insufficient;
-inability due to illness or disability of a debtor who has dependents.
Non-dischargeable offenses that toll the statute of limitations to file bankruptcy in Florida are typically when a person is convicted and sentenced before the statute of limitations has run. Some examples include:
-felonies;
-criminal misdemeanors;
-obtaining property by false pretenses, embezzlement, certain felonies or misdemeanor theft.
When filing for bankruptcy, it is not necessary to list all of your debts in exact dollar amounts. Your case could be filed on an unsecured basis (lines of credit and credit cards), secured (car loans and mortgages) or total and permanent disability (unemployment). In Florida, an individual may choose to file under any of these categories.
The amount that can be discharged in bankruptcy is decided by the court. The laws pertaining to the amount of debts that can be discharged are governed by federal law and vary from state to state.
Any debt that was incurred within the last 90 days prior to filing may not be discharged; this is also stated under federal law (this also applies even if you did not create a new debt after 90 days, but before you filed your petition). The time period is different in each state and will likely be addressed at your creditor's meeting with the court through a separate motion. In some states such as New York, it is 180 days prior to filing for bankruptcy.
