Bankruptcy FAQs2021-02-16T02:25:15+00:00

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    Bankruptcy FAQs

    Ft. Lauderdale Bankruptcy Lawyer Kristy Qiu will answer all of your bankruptcy questions and help determine if bankruptcy is right for you.

    While most of these frequently asked questions (FAQs) are general to bankruptcy across the country, some of the answers will be specific to Florida bankruptcy laws.  You should always consult with an attorney in your area to properly assess your personal situation.

    Remember: The law often changes. Each case is different. This website is meant to give you general information and not to give you specific legal advice.

    Take advantage of our free initial consultation and sit down with Fort Lauderdale Bankruptcy Lawyer Kristy Qiu, Esq. who will personally evaluate your options. When you need to protect your home, health, and future in the face of serious financial turmoil, put our professionals on your side in bankruptcy court.

    To discuss your concerns regarding foreclosure, debt liquidation, or debt repayment plans, contact our offices. Call us at (954) 282-8296 to arrange an initial consultation and find out what we can do for you.

    Can I remove liens against my property?2017-04-26T15:54:28+00:00

    Depends. Under certain circumstances, judicial liens and nonpossessory, nonpurchase-money security interests may be removed if the fixing of the lien impairs an exemption that you’re entitled to on the date you file your bankruptcy case. This also depends on the value of the asset and the amount of senior liens and encumbrances on your property.

    Can I be fired or denied employment because of a bankruptcy?2017-04-26T15:54:28+00:00

    No. Terminating an employment because of bankruptcy is illegal. While an employer can fire an employee for no reason, using bankurptcy as a basis to do so is explicitly prohibited by Section 525 of the Bankruptcy Code, titled “Protection Against Discriminatory Treatment.”

    Can I transfer assets out of my name into someone else’s before filing bankruptcy?2015-02-28T22:42:51+00:00

    No, unless they are sold for “reasonably equivalent value.” Otherwise the Trustee can recover the property because the transfer is Fraudulent. The look back period for fraudulent transfers is 2 years.

    Can I choose what assets and what creditors/debts to list in my bankruptcy case?2015-02-28T22:42:23+00:00

    You must list all your assets as well as all your debts in ANY chapter of bankruptcy.You may voluntarily repay a creditor if you wish by entering into a reaffirmation agreement, or by a ride through if your payment is current when you file for bankruptcy. If you wish to keep certain non-exempt assets, you can redeem them from the Trustee or they might be abandoned to you if there is no equity in the assets.

    Can student loans be discharged in bankruptcy?2015-02-28T22:41:57+00:00

    Unfortunately, unless the court finds that paying off the student loan will impose an undue hardship on you or your dependents, student loans are not dischargeable in any chapter of bankruptcy.The bankruptcy code does not define “undue hardship,” leaving the courts to decide what constitutes an undue hardship.

    The burden to demonstrate undue hardship will be on you. Courts vary in opinion, but they often apply a stringent three-part test to determine whether an undue hardship is present:

    1. Income: If after you will not be able to maintain a minimum standard of living for yourself and/or your dependents after paying off the student loans. Minimum standard of living is objective, it’s mostly confined to food, clothing, and other basic necessities. It is subjective according to what you are used to prior to filing for bankruptcy. It is very hard to meet this element of the thr