Timothy W Gensmer PA

Timothy W Gensmer PA Reputable Law Firm with Offices in Sarasota and Port Charlotte, FL The Law office of Timothy W. Gensmer, P.A.

is committed to provide you with quality legal advice. Our areas of practice include bankruptcy, estate planning, probate, loan modification and foreclosure defense.

03/31/2022

Did you know that a bankruptcy can help you even if you’re not filing for bankruptcy? There are a variety of different options available for you, and a bankruptcy attorney will go over all of them with you to find the best choice.

03/29/2022

Like all legal issues, filing for bankruptcy involves a lot of paperwork, and easy to make a mistake or leave something out if you don’t know what you’re doing. Bankruptcy attorneys know those forms cold, and you can be sure that everything will be done correctly.

03/24/2022

If after your initial bankruptcy filing, you and your attorney decide that you’re better off filing chapter 7 or chapter 13 respectively, then you can file a motion to convert. It’s important to understand that the trustee can likewise request a conversion.

03/22/2022

Do you hate the idea of being saddled with negative records on your credit report for years after filing for bankruptcy? Depending on which type you file, you may have the option to remove all the negative information after your bankruptcy is discharged.

03/17/2022

Are you late on your auto payments? Chapter 13 bankruptcy can also be used to get caught up on your auto payments.

03/15/2022

As of January 2015, up to one out of every 1100 homes was subject to foreclosure. Roughly 26% were in pre-foreclosure proceedings, 43% were scheduled for foreclosure auctions, and 31% had been vacated and were now bank-owned.

03/10/2022

Can I repay a debtor even though the debt was discharged in bankruptcy? You can, but the key element here that may affect your relationship is that you are no longer legally required to make those payments. If you run into future financial trouble, that debtor has no legal recourse even though you chose to make some payments after the bankruptcy.

03/08/2022

If your small business is filing for Chapter 11, you should consider hiring a certified business bankruptcy attorney. We know the laws that specifically apply to our state and how they relate to your business and finances.

03/03/2022

We recognize that many people aren’t simply looking for a way to walk away from their debts. When you have a steady income, it may be possible to use bankruptcy proceedings to renegotiate your payments so that you can pay back a portion of your debt at more affordable levels.

03/01/2022

If you are considering filing for bankruptcy, you may wonder how bankruptcy will affect your life. Contacting a bankruptcy attorney can help you understand the details of bankruptcy laws for your state and can make the process run as smoothly as possible.

02/24/2022

In all but two states, a bankruptcy trustee has the job of ensuring everything in your filing is appropriate. Trustees are also directed to look for any suspected fraud. If fraud is confirmed, you can lose the ability to file for bankruptcy.

02/22/2022

Did you know that bankruptcy did not exist in ancient Greece? Rather, if a man owed money to another and could not pay, he and his wife and children were forced into bonded labor. Bonded labor was the pledge of a person for the services required to pay off a debt or loan.

02/17/2022

We understand that filing for bankruptcy isn’t a decision people come to lightly. If you aren’t sure whether filing is right for you, let’s discuss how the different types of bankruptcy could work for you.

02/15/2022

When an individual files for and enters into bankruptcy, that information is not blasted across headlines. Neither is it fodder for the tabloids. The only way anyone will know about it is if you choose to tell them, or they decide to go digging through the records of the bankruptcy court.

02/10/2022

Why do most people file for bankruptcy? According to national studies, unemployment, divorce, and unexpected medical costs are the three most commonly cited reasons for a person to seek bankruptcy protection.

02/08/2022

The length of time a bankruptcy will affect your ability to borrow money will often depend on the organization with which you will be dealing. Some will work with you as soon as you have completed the process; others may want to wait a little longer.

02/03/2022

Chapter 13 bankruptcy allows you to repay your debts. Depending on the terms agreed upon, you typically get between three and five years to catch up.

02/01/2022

Surprisingly, bankruptcy doesn’t always affect credit as negatively as many people believe. Of course, this all depends on the level of your financial difficulties and the status of your credit score before you file. Talk to your attorney to see how this might affect you.

01/27/2022

Depending on what type of bankruptcy you file, your tax obligations will vary, as chapter 7 bankruptcy creates a taxable estate that’s completely separate from you as an individual taxpayer. Speak to your attorney to determine your tax obligations.

01/25/2022

It is important to understand what debt can be wiped away in a bankruptcy and what cannot. A bankruptcy attorney can explain that student loans cannot be liquidated in a bankruptcy, along with most debt to the IRS.

01/20/2022

When your business is in trouble, you need an attorney who is part of your professional team. Your accountant is probably a CPA. You may have a financial advisor who is a CFA. Your attorney is good at handling daily business matters. It makes sense, then, to hire an attorney skilled at bankruptcy proceedings.

01/18/2022

If a bankruptcy judge decides that some or all of your debt is the result of fraud, that debt is immune from a bankruptcy discharge. Fraud can also result in your bankruptcy case being dropped.

01/13/2022

If you still owe money on your car and wish to clear or discharge the debt, then you will have to return the car to the lender. If you wish to keep the car, then you’ll need to reaffirm the loan and continue to make payments.

01/11/2022

Though the bankruptcy process goes through the courts, that does not mean it is a slow and never-ending process. With the help of a qualified attorney, the bankruptcy procedures can move at a steady pace and be completed rather quickly.

01/06/2022

Bankruptcy is a legal procedure that is built for people who are unable to repay their debts for a variety of reasons. There are several different types, or chapters, of bankruptcy, and the goal is to either eliminate or restructure your debts.

01/04/2022

We understand that a bankruptcy can have negative consequences on your credit rating. We’re always here to help you better understand the credit ramifications of a bankruptcy filing.

12/30/2021

The stigma associated with bankruptcy has lessened considerably in recent years, due to the decline in real estate values and the increase in professional job losses. Nearly ten percent of bankruptcy filers in 2010 earned more than $60,000 a year.

12/28/2021

If your small business is filing for bankruptcy, you should consider hiring a certified business bankruptcy attorney. We are specialists who have met rigorous, objective standards and testing, and have exceptional knowledge in bankruptcy and creditors’ rights to help protect you.

12/23/2021

Harassment by creditors can disrupt your life, create problems, and make your life miserable. One of the advantages to filing for bankruptcy is that it puts an end to these calls and creditors are prohibited from contacting you.

12/21/2021

Changes to the bankruptcy law in 2005 have made filing for bankruptcy not only more expensive, but also more complicated. A qualified bankruptcy attorney can ensure your financial situation is evaluated correctly, as well as help schedule all court appearances and complete all documentation correctly.

12/16/2021

An individual bankruptcy can't wipe away all of your debts. If you have a student loan, owe child or spousal support, or were fined as a result of a drunk driving case, a bankruptcy won't affect any of those debts.

12/14/2021

What should I expect from my Chapter 7 bankruptcy case? As long as you qualify for a Chapter 7 filing, the entire case should last between four and six months. Because of state and federal exemptions, about 90 percent of all debtors are able to discharge all of their unsecured debt without losing any personal property.

12/09/2021

If your business is in financial trouble, hiring an attorney with a long history of success with business bankruptcy makes sense. Even if your business is not incorporated, you need an attorney skilled at liquidating a business and not in civil proceedings.

12/07/2021

There is a lot of false information floating around about bankruptcy, much of it generated by lending agencies and banks since it is in their interests to discourage people from filing for bankruptcy. Only a qualified bankruptcy attorney can be counted on to tell you exactly what your rights are and what you can do.

12/02/2021

Filing bankruptcy can help clear much of your debt load, but some types of debt are unaffected. These include alimony, child support, taxes, fraudulent transactions and similar issues, but consult an attorney to determine how the exemptions may affect you.

11/30/2021

A bankruptcy attorney can protect you from creditor harassment once you've filed for bankruptcy. If debt collectors continue to call and harass you after you've informed them of your filing, your attorney should be able to put a stop to it.

11/25/2021

Which bankruptcy filing is best for me? That’s a question a bankruptcy attorney can help to answer. About 7 out of 10 people who file for personal bankruptcy choose Chapter 7 because it is much faster. It takes about four to six months in Chapter 7, while a Chapter 13 repayment plan is usually 60 months.

11/23/2021

For those who are married, both spouses do not necessarily have to file for bankruptcy. If only one of the partners has significant debt, it may be a better option for only that partner to file. Your attorney will discuss the best approach to take.

11/18/2021

Are you concerned about how it will look if you just walk away from your debt obligations? Remember, a Chapter 7 bankruptcy is a fresh start, while a Chapter 13 bankruptcy offers a payment plan for settling your credit accounts.

11/16/2021

Just because you have a good income doesn’t mean that you’re not in a rough financial situation. Debts can take large chunks of monthly income away to make it hard to pay bills. Bankruptcy can help lower your monthly debt payments to give you breathing room.

Address

2831 Ringling Boulevard Ste 202
Sarasota, FL
34237

Opening Hours

Monday 9am - 5:30pm
Tuesday 9am - 5:30pm
Wednesday 9am - 5:30pm
Thursday 9am - 5:30pm
Friday 9am - 3pm

Telephone

(941) 952-9377

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