Frequently Asked Questions

Insight from Our Palm Beach Attorney

Will I lose my home or car in bankruptcy?
When you file for bankruptcy, there are a variety of options you can pursue to avoid foreclosure or repossession. The Law Offices of Carol D. Ellis can help you to determine how best to proceed based on your personal financial situation. If you are facing foreclosure, it is important that you act at once before the situation moves beyond your control.

How do I qualify for Chapter 7?
To qualify for filing Chapter 7, it is required that you take the "means test." This test determines your eligibility for Chapter 7. Ensuring that you actually qualify before filing is important; if you make errors, you could be denied the right to file, or could even face legal consequences. Our Palm Beach bankruptcy lawyer has extensive experience in helping clients determine what chapters of bankruptcy they should file under or other helpful alternatives.

Will my credit be ruined for years after filing for bankruptcy?
Although bankruptcy definitely affects your credit to some extent, most people discover that once the bankruptcy is final, they can begin rebuilding their credit. The opportunities to begin regaining credit can arise fairly quickly after bankruptcy, usually with high interest, secured credit cards or other offers. If you carefully manage your finances after bankruptcy, you will soon get better credit offers as time passes. Most people who must file bankruptcy already had serious problems with their credit report, which means bankruptcy can give them a clean slate to work from.

Is there any way to fight foreclosure?
Yes, there are numerous ways to avoid foreclosure on your home or property. The first step is a full review of all mortgage documents and filings. We have discovered many cases where the filings were done incorrectly or promises were made to the mortgage holder that were false. After a review of your documents and financial situation, we can help you to determine the best course of action to help you fight foreclosure.

What is the difference between contested and uncontested divorce?

The difference between and uncontested and contested divorce mainly has to do with agreements between the spouses. If both spouses agree on a divorce and come up with a plan to split their assets with no objections, this is generally known as an uncontested divorce. However, if one or more disagreements arises between the involved parties and they cannot come to a decision without the need of mediation, this is a contested divorce.

What is a trust and why do I need one?

A trust is an agreement that transfers assets to people of your choosing. It can help properly distribute your assets to loved ones and protect them from various other legal matters. It is another method of safeguarding your assets and ensuring that your resources will be allocated exactly as you want them to be after you pass away.

If you have more questions about bankruptcy or any of our other practice areas, call our Palm Beach lawyer at (561) 513-5809. We can provide answers to your additional questions!