Job loss is one of the most common reasons to find yourself between a rock and a hard place financially. Suddenly, you’re faced with a lack of income against all the debt you’ve accumulated and you find yourself in over your head. Losing a job is a serious issue and one that has ripple effects across your family and life, so it’s recommended that you speak with a dedicated Florida bankruptcy lawyer immediately.
Can Anyone File Bankruptcy Without a Job?
In general, your employment status does not impact your ability to file a bankruptcy case. In fact, being unemployed is one of the leading reasons for a person to file a Chapter 7 bankruptcy case in Florida. Having no source of income leaves you with little to no opportunity to pay down your debts, making it a prime opportunity to wipe the slate clean and start over with the reset provided by a Chapter 7.
Chapter 13, can also be filed if you don’t have a job. Unlike eliminating your debts in Chapter 7, Chapter 13 requires a payment plan from you to cover as much as your debt as possible. Without a source of regular income, any proposed payment plan submitted to the court your repayment plan can be confirmed if you can get an affidavit of support to make your payments. Your Chapter 13 plan needs to show that you have a method to pay for your plan. Call us to find out what your options are.
Stop Calls From Creditors With The Help Of A Bankruptcy Attorney
Before filing a Chapter 7 bankruptcy case, you need to show that you’re qualified to do so. The first is to show your income from the prior six months. If this number is less than the median income in the area where you live, then you may be eligible to file Chapter 7 in Florida. This is called the “means test” which is just one thing an experienced bankruptcy attorney will look at while assessing your eligibility and best course of action. Call us to review your financial situation.
A more involved method of qualifying for Chapter 7 is known as the Means Test. If you can show that your ongoing monthly payments and obligations don’t leave you with much or any money at the end of the month to pay on medical bills or credit cards, you can use your unemployment to establish that you don’t have the funds needed to continue with your current financial situation.
When you’re already unemployed, your stress level could be at an all time high. Worrying about what to do with debt collectors and creditors coming after you only amplifies this stress further. Chapter 7 filing with the help of a FL bankruptcy lawyer might be exactly what you need to start over and get relief from your current financial struggles. Once you hire our firm, we will take calls from your creditors to let them know we represent you, this should prevent them from calling you again.
Do I Need a Consult for Bankruptcy without a Job?
When submitting a petition for bankruptcy, it’s key to ensure that all the details have been dealt with properly; what seems like a small oversight or mistake in your application could block your ability to get the financial relief provided by bankruptcy. Your FL bankruptcy lawyer can help explain to you what the process looks like and give you a clear perspective on how to proceed.
If you’re making minimum payments on your credit cards you are probably already experiencing major stress over the loss of your job and a possible inability to cover day to day expenses. Bankruptcy might be what you need to get back on your feet and move towards a more financially secure future. When looking at this route, however, who you choose to support you in your case has a big impact on your filing. Make sure all the details are accurate and that you’re clear on which type of bankruptcy is most applicable for your situation.
Our FL bankruptcy lawyer will sit with you to evaluate your individual situation and give you an honest appraisal of what to expect. The support of an attorney can be instrumental in gathering all the necessary details to make the right choice for you.
With extensive experience in this field, you can trust in the service and individualized approach offered by our FL bankruptcy lawyer. We know the impact that a successful bankruptcy filing could have on your life and we take the role we play in helping you get there very seriously.
If you’re already seeking out bankruptcy resources like this one, reach out to our firm today to get more information on how to start the process so that you can get back on the path to financial recovery.