Bankruptcy/Divorce
Bankruptcy
The Law Office of David L. Lord and Associates, P.A., handles bankruptcies. Bankruptcy is a choice that may help you if you are facing serious financial problems. You may be able to discharge your obligation to pay debts, stop harassing collection calls, stop foreclosures or repossessions, and get the "fresh start" you need to get back on financial track. Careful decisions will need to be made about future credit, but bankruptcy does NOT necessarily mean you cannot get a house, car or other loans or credit.
The two primary forms of consumer bankruptcy are Chapter 7 and Chapter 13. Chapter 7 is technically "liquidation" bankruptcy. It is often referred to as "straight bankruptcy." Filing a Chapter 7 will allow you to discharge your obligation on unsecured debts. That is, you will be discharged from your obligation to pay such things as credit cards, medical accounts, and other accounts which are not secured by collateral. On secured accounts, you may choose to retain the collateral and reaffirm the debt (that is, sign a new agreement to reaffirm your obligation under the original terms of the contract) and continue to pay the debt and retain the property. This is most often done with your car and house. Bankruptcy does not discharge most taxes, most student loans and some other specific kinds of debt.
Chapter 13 is reorganization of your debt using future income to consolidate all, or most, of your debt in a Chapter 13 plan. The plan may be from 3 to 5 years, and, if approved by the court, your debts are handled under the terms and provisions of your plan. In most cases, you retain all of your property if secured creditors are properly provided for in the plan.
Any bankruptcy will be part of your credit history and can be retained on your credit file for 10 years from the date you file. It may affect your ability to borrow money in the future or the terms of any new credit you obtain.
We offer a FREE initial consultation to discuss all of your rights and obligations in bankruptcy and will gladly answer your questions and concerns.
Divorce
The Law Office of David L. Lord and Associates, P.A., handles contested and uncontested divorces. Divorce has become an increasingly complicated procedure with multiple issues to be considered by the parties. Of course, there is the initial consideration of the divorce itself. Do both parties want a divorce? Can everything be agreed upon? What are the religious, financial, employment and social considerations? How will the divorce change my life?
Beyond these initial considerations, the parties must be prepared to either discuss and amicably resolve other issues or litigate the issues and let a judge decide the outcome. What thought have you given to the issue of child custody? Where would the children receive better care? What is in the best interest of the children? Is some form of joint custody an option based on your future living arrangements and location? What other relatives live nearby that might help care for the children? Are the children in school where they have developed friendships? What form of visitation might be comfortable? What about child support? what is the right amount? Are there any guidelines to follow?
Property issues are another concern. The question of who gets what and who pays for what is probably one of the most difficult questions to resolve. This is especially true in the case where the marriage has been lengthy and the parties have jointly acquired a great deal. What about the house? Who gets it and who must pay for it? Can it be sold and the proceeds divided? Must it be retained as a home for the children? What about alimony, retirement savings and the dog?
Of course, there are certain questions that are of particular concern when one or both of the parties are connected with the military. Finally, there are concerns about the impact of taxes on the division of property and the award of support.
These concerns require the services of an experienced attorney dedicated to making certain that BOTH parties' rights are protected.