The Law Office of Alyx C. Cassel

06/20/2024

In Chapter 13 Bankruptcy, the 'cramdown' provision allows for the reduction of certain debts to the current value of the collateral. Discover how this can benefit you in a debt restructuring plan.

In Chapter 13 bankruptcy, cramdowns allow you to reduce a debt's principal balance to the value of the asset it is secured by. This means that with a Chapter 13 cramdown, you may be able to retain ownership of your car, ...

05/09/2024

02/23/2024

Drowning in Debt?
Being Foreclosed?

Bankruptcy may be the best option.

Call today for your Free Consultation or visit our website: www.flbankruptcyrelief.com

"When Debt Becomes a Hassle, Call Cassel."

08/09/2023

WHEN IS BANKRUPTCY THE BEST OPTION?

Deciding to file bankruptcy can be a tough decision; however, here are some signs it may be the best option for you:

• You have more than $10,000 of dischargeable debt.
• Your credit score is already low (below 600).
• Keeping up with payments is making it impossible to make
ends meet every month.
• Your home is in the process of being foreclosed.
• You’re worried about your vehicle being repossessed.
• You’re worried about or are already facing wage garnishment or a debt collection lawsuit.
• You don’t see a way of being able to pay back your debt over the next five years.

If any of these are signs are applicable, right now may be the best time to file for bankruptcy. It is important to remember Bankruptcy isn’t the end of the world, and It may even be the best option for you if you are unable to repay debts as you cover obligations such as retirement, food and housing.

Bankruptcy stops collection calls, lawsuits and wage garnishments. It erases debt. And despite what you’ve heard, bankruptcy may improve your credit scores.

Deciding to file bankruptcy can be a tough decision; however, here are some signs it may be the best option for you:

05/24/2023

Life After Bankruptcy.

While you may think otherwise, there is life after bankruptcy, and generally, that financial life is better. In fact, you’ll be surprised at how quickly the bankruptcy filing becomes insignificant in your economic world.

The new chapter in your financial life really starts with the bankruptcy filing.

Filing immediately stops your creditors from collecting and gives you a chance to reset, starting the day you file.

No more calls from collectors; no more dodging process servers; no more worries about your wages being garnished or bank accounts levied. Heck, odds on, you’ll even sleep better.

But that new chapter in your financial life is symbolically capped with the court order that discharges you from personal responsibility for your dischargeable debts.

The discharge order, which comes within a couple of months of filing a Chapter 7 or at the completion of your Chapter 13 plan, is the cherry on top that allows you to tell the world that your debts are behind you!

One of the fears of those considering bankruptcy is that they will never be able to obtain credit once they file for bankruptcy. This fear is fanned by lenders and debt settlement companies who are trying to defame bankruptcy.

Let me say it, with all the emphasis available: FILING BANKRUPTCY DOES NOT PREVENT YOU FROM OBTAINING CREDIT IN THE FUTURE!

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While you may think otherwise, there is life after bankruptcy, and generally, that financial life is better. In fact, you’ll be surprised at how quickly the bankruptcy filing becomes insignificant in your economic world.

05/24/2023

Does Bankruptcy Wipe Out All of Your Debts?

Due to the lengthy and complex list of statutory exceptions to discharge in the Bankruptcy Code.

Which debts you can wipe away or, more correctly, discharge in bankruptcy, is difficult for many to comprehend.

This is why you need an experienced bankruptcy attorney to determine whether you can dispose of a specific debt.

Congress has decided over time that certain debts should not be dischargeable. For some of these, the “Creditor” (the party to whom the debt is owed), is required to file an objection to the discharge by a specific time deadline in a case. If the Creditor does not timely object, the debt is eligible for discharge.

Other debts are only dischargeable if certain criteria are met. These include some taxes.

And, to make matters more confusing, certain debts are only dischargeable under Chapter 13, while not dischargeable under Chapter 7 or Chapter 11. These include debts such as non-support debts owed to a spouse pursuant to a divorce, such as marital equalization payments, and fines and penalties owed to the government.

So, which debts can be discharged in bankruptcy?

The simplest way to look at it is to start with the assumption that all debts are dischargeable in bankruptcy except for ones that are not.

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Debts That Can Be Erased or Discharged in Bankruptcy

05/24/2023

How to Avoid Foreclosure with Bankruptcy

When you fall behind on your mortgage, you might begin to prepare for the unimaginable, that you will lose your home to foreclosure. While this is a possibility, there are also ways to prevent this by filing for bankruptcy.

An experienced bankruptcy attorney can help you determine if filing for Chapter 13 or Chapter 7 bankruptcy is the right choice for you, and will know what steps to take to try to prevent foreclosure.

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When you fall behind on your mortgage, you might begin to prepare for the unimaginable – that you will lose your home to foreclosure. While this is a possibility, there are also ways to prevent this by filing for bankrup...

05/24/2023

How Common Is Bankruptcy?

Everyone who considers filing for bankruptcy will likely have numerous questions about the advantages and disadvantages of bankruptcy and whether filing for bankruptcy is the right choice for them. They may also wonder how prevalent bankruptcy is, assuming that filing for bankruptcy is a sign of personal failure.

However, many personal bankruptcies are triggered by events outside of one’s control, especially medical and economic issues. Bankruptcy should be recognized as a serious but powerful tool for an individual with no fewer options to take control of their finances.

If you are facing problems managing your debts and finances, contact The Law Office of Alyx C. Cassel today. You can schedule a free consultation with us to discuss the details of your situation and to learn more about your options for resolving your financial difficulties and debts.

Learn more at

Everyone who considers filing for bankruptcy will likely have numerous questions about the advantages and disadvantages of bankruptcy and whether filing for bankruptcy is the right choice for them. They may also wonder h...

05/24/2023

Our firm offers affordable options for consumers looking to file Chapter 7 and Chapter 13 Bankruptcies across the state of Florida, and help maximize the benefits afforded to consumers by the United States Bankruptcy Code.