I have no Job or Assets: Should I file a Florida Bankruptcy?
Bankruptcy is always an option of last resort. You may not even need to file for bankruptcy if you do not have wages that can be garnished or assets that can have liens filed against it.You may be considered "judgment proof."
Many times the only source of income a debtor has coming in is some sort of public assistance. These sources of income are generally protected in a bankruptcy from the Trustee. The advantage to filing for bankruptcy when you are unemployed is you do not have to worry about passing the "mean's test." Also, if you do not own a lot of property you do not have to worry about having it liquidated to pay off your creditors.
Most judgments can only last on your credit report up to 7 years as opposed to 10 in a bankruptcy. However, if you are expecting to find a job, want to avoid garnishments, and stop creditor phone calls, you may want to wipe out your debt in order to get a fresh financial start.
If you have questions about Florida Foreclosures or Bankruptcy Law contact a Florida Attorney
Greg Gilbert
Keith Maynard
