Month: April 2015

Bankruptcy Law, Credit, Florida Bar, Timothy Kingcade Posts

How to Choose the Right Bankruptcy Attorney

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Finding the right bankruptcy attorney is critical to the outcome of your case. The first place you can start is by visiting your state bar’s website to find out if the attorney is a Board Certified Consumer Bankruptcy attorney. You can also find out how many years an attorney has been practicing in the field of bankruptcy law.

Look for important award distinctions, such as an AV Preeminent Rating by Martindale-Hubbell. This distinguished award is achievable only after admission to the bar for at least ten years and indicates the highest level of legal ability and ethics. It also indicates that an attorney’s colleagues and the judiciary perceive him to be at the pinnacle of professional success.

When you check credentials and affiliations, it provides you with an assurance that the attorney has practical knowledge of the state’s bankruptcy laws. Next, visit the attorney’s website to see if the site contains educational information about filing for bankruptcy, answers frequently asked questions, provides client testimonials and informative videos.

Do your research on the bankruptcy attorney you plan to meet with and look for the following qualities:

1.The attorney should discuss alternative options with you. Chapter 7 bankruptcy is a complete discharge of eligible debts, but it is not right for everyone.

2. The attorney should display a passion for the process. You should not hire an attorney to represent you in court who is indifferent about the process. Ask the attorney why he or she chose bankruptcy law and listen carefully to the response.

3. The attorney should understand you and your individual situation. Filing for bankruptcy can be a trying time, not only financially but emotionally. You need to find an attorney who possesses empathy and the willingness to listen to you.

4. Beware of discount bankruptcy attorneys. Finally, look out for an attorney who runs an extremely discounted rate on their bankruptcy services. These firms are commonly referred to as “bankruptcy mills” and crank out many cases at a time, not giving clients the one-on-one attention they deserve.

Click here to read more on how to choose the right bankruptcy attorney.

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Timothy Kingcade Posts

How Avoiding Bankruptcy can Backfire

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Bankruptcy is often misunderstood and accompanied by a negative stigma. However, bankruptcy can mean different things to different types of entities. For example, a business filing for bankruptcy is often seen as a healing process, allowing the company to reorganize and restructure its debts, while continuing its operations.

Oftentimes, credit counselors and debt relief services will advise against bankruptcy to steer consumers toward their services of financial assistance, postponing the inevitable.  Banks and personal finance gurus manipulate consumers into believing that it is impossible to rebuild your credit after bankruptcy.

The reality is that most consumers who have filed for bankruptcy have access to more “new lines of credit” than those who continue struggling with insurmountable debt. This was proven in a study conducted by the Federal Reserve Bank of New York. The study focused on the financial lives of people who continue struggling with debt and those who opted for bankruptcy.

The study revealed that those individuals who filed for bankruptcy early in the year opened a larger number of unsecured accounts than those who chose not to file for bankruptcy. The study proves that filing for bankruptcy opens doors to new lines of credit rather than closing them.

The study also revealed that those who filed for bankruptcy saw a greater improvement in their credit scores than those who did not. Also, those who did not file for bankruptcy lost a significant amount of retirement income, compared to those who did file for bankruptcy.  Under federal law, most retirement accounts are fully exempt in bankruptcy.

Click here to read more on this story.

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.