What Are The Consequences of a Florida Bankruptcy?

Employment: Federal law prohibits a private employer or a governmental entity from discriminating against anyone for non-payment of a debt that was discharged in a Florida bankruptcy.

• It is illegal for any employer to discriminate against you for having filed a Florida bankruptcy. 

• It is illegal for the government to discriminate against anyone who has been discharged from paying a debt. 

This means that you cannot be denied a job or promotion, or a license, franchise or other governmental privilege solely because you have received from a Florida bankruptcy proceeding a discharge of debt.

Credit and Credit Reporting: After the discharge, you are entitled under the Fair Credit Reporting Act   to have the balance of each discharged debt reported a “0.”  The history of delinquencies can be reported, but the balance must be zero.

Many Orlando Florida residents are concerned about the effects that filing for an Orlando Florida bankruptcy can have on their credit.  An Orlando Florida bankruptcy proceeding may be reported on a Florida person’s credit record for 10 years.  However, this must be balanced with the effect that unrelieved debt will have if it is not discharged.  The lingering burden of unresolved debt will lower credit scores and reduce eligibility for credit.  Most Orlando Florida residents file for a bankruptcy liquidation because they are unlikely to be able to repay the debt within any realistic time frame.  At the time of filing, most Orlando Florida residents credit has been severely damaged and the fresh start provided by a bankruptcy discharge offers the best future. 

Once an Orlando Florida resident successfully completes bankruptcy, they are ineligible for a second bankruptcy for a period of 2 to 8 years, depending on the type of filing.  Because of that, many credit card companies are ready to extend credit to individuals that they know cannot be protected by the bankruptcy court.   You will probably receive offers from credit card companies after you are discharged because they know that you are a better credit risk at that point.
All things considered, if you have income, you will probably be more credit worthy after a Florida bankruptcy than you were before, since your old debts no longer have a clam on your future income.

Let Us Make It Easy To Get a Fresh Start. Call Today For a Free Consultation! Contact Orlando Bankruptcy Lawyer: Jeff Badgley

As an experienced Orlando bankruptcy attorney, Jeff Badgley has over 20 years experience in helping Orlando and Central Florida residents with their financial matters. If you live in the Orlando, Altamonte Springs, Winter Springs, Winter Haven, Windermere, Ocoee, Winter Garden, Kissimmee, Clermont, Deltona, Oviedo, Winter Park or the Central Florida area and have any questions regarding an Orlando bankruptcy concern contact or call us at (866) 977-1544  for a FREE CONSULTATION.