What Happens After You File for Bankruptcy in Port St. Lucie?

Our Port St. Lucie Bankruptcy Attorneys Keep You Informed

At Crary Buchanan, we understand just how overwhelming the bankruptcy process can be. For many individuals, suffering with the burden of debt can be just as much of an emotional struggle just as it is a financial one. Our Port St. Lucie bankruptcy lawyers want to reassure you that you are not alone during this process and you will be backed by a team of qualified, experienced, and skilled legal counselors.

Below, we have provided you with a brief summary of what to expect after filing for bankruptcy. If you have additional concerns, call Crary Buchanan at (888) 899-8161.

What to Expect After Filing for Bankruptcy in Florida

When you filed for bankruptcy, you received an umbrella of protection that has been given to you by the United States Bankruptcy Code. One element of safety involved in the bankruptcy process is referred to as an Automatic Stay.

The Automatic Stay prohibits all collectors and creditors from making any type of collection attempts – effective immediately after filing for bankruptcy protection. In exchange for an automatic stay, however, you also gave up certain freedoms during your case.

Unless you have permission from the Court, you cannot:

Sell/dispose of any real estate
Sell/dispose of any motor vehicles
Sell/dispose/pawn any personal property including household items
Sell/dispose/pawn any jewelry, firearms, or other hobby equipment
Take your spouse/parent/child’s name off a financial account
Take your name off of any financial account
Use any security deposits
Close any financial accounts, including bank, retirement or other accounts
Take out any new loans, including payday, 401(k), title, and student loans
Use any credit cards or obtain new cards
Incur any new debt of any kind
Repay unsecured creditors
Cash in any stocks or bonds
Cash in any life insurance policies

If you think you need to do one of the above actions while your case is pending, please contact our office to discuss your options. Reach us by calling (888) 899-8161.

There is life after bankruptcy! Let us help you.

At Crary Buchanan, we want to make this next chapter of your life as easy, straight-forward, and stress-free as possible. We want you to understand your rights – as well as your obligations – during the bankruptcy process so as to avoid any potential future issues or problems.

After filing for bankruptcy, you can still live a normal life and do things like:

Use your exempt bank accounts for regular use, such as paying bills or household expenses
Use your exempt vehicles for regular use, including traveling to and from work or school
Pay with cash and / or debit card for any minor purchases
Replace an exempt appliance if it stops working
Go to your doctor, dentist, or hospital
Take your pets to the veterinarian
Continue academic studies
Open new bank or retirement accounts, if necessary
Spend your exempt income tax refund
Repay any priority debt like income taxes, back taxes, or child support debts
Make your mortgage, auto, and other installment payments listed on your Schedule J (budget)