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Hernando County Law Blog

Tips for rebuilding credit after bankruptcy

As someone struggling with increasingly overwhelming medical, credit card or other debt, you may be thinking about filing for bankruptcy so you can get that fresh start you desperately need. While filing for bankruptcy may, in fact, be able to help you get your finances back in order so you can manage them, several unavoidable ripple effects come with filing.

For example, your credit score will undoubtedly take a hit in the aftermath of a bankruptcy filing. This can make it difficult for you to obtain additional credit cards, a mortgage, an auto loan or what have you. Therefore, it is critical that you begin the process of rebuilding your credit after filing for bankruptcy. There are several things you can do to speed up the process. For example, to rebuild your credit score after a bankruptcy filing, consider:

Unwanted heirlooms? Consider having an estate sale

Not all inheritances are needed or wanted, as we at The Day Law Office are aware. If, like many Florida residents after the death of their parents, you find yourself with possessions you have no room or need for, you may feel guilty even thinking about donating or throwing away these items. Fortunately, there may be a better way to unload the unnecessary personal items that you inherited, and to benefit from it as well.

Estate sales are often held for this purpose, as HowStuffWorks explains. You may have seen estate sales advertised in your local paper or online, but you never knew what they were. Rather than holding a yard or garage sale, people who have estate sales are selling items they inherited from deceased loved ones in a more professional, organized manner.

Establishing paternity in Florida

These days, an increasingly high percentage of American babies are born to parents who were never married, and such situations can give rise to a wide range of highly emotional and paternity-related issues. Maybe you are the mother of a child and the person you believe fathered your son or daughter denies it and refuses to help support your child. Or, conversely, maybe you believe you fathered a child and wish to become a part of this child’s life, but the child’s mother is making this difficult.

Regardless of which side of the equation you find yourself on, the process of establishing paternity in Florida remains the same. Just how can you go about establishing paternity in Florida, and what, exactly, does that mean for the child and father?

When must claims against an estate be submitted?

Most in Hernando County may view the probate process as only dealing with the distribution of assets to an estate's beneficiaries. Yet the actual purpose is to settle all of a decedent's financial affairs. This includes any creditors claims that might have been pending against them at the time of their death. If you have been selected as the personal representative of the estate of family member or friend, you may cringe at the thought of having to worry about paying off bills for years and years to come. Fortunately, Florida's Probate Code addresses the amount of time creditors are afforded to make a claim against a person's estate. 

According to Section 733.702 of the aforementioned code, creditors have three months to respond to your publication of the notice to creditors to submit claims against the estate. For those creditors that you may be required to submit such a notice to individually, due to the nature of their claims, they have 30 from the receipt that notice to respond. There may be cases where unique circumstances prevent a creditor from submitting the complete details of a claim within the afforded time period. In such a scenario, the court may offer a filing extension. However, in general, no new claims are allowed to be submitted against an estate after two years has passed since your loved one's death. 

Qualifying for a mortgage after filing for bankruptcy

Among the more common misconceptions about bankruptcy is that it comes without consequences. Many in Hernando County might see it as an easy way for you to get away with not having to pay your bills. It might even be tempting for you to view it as a more attractive option than having to submit to the harsh demands of your creditors. Be you should know that bankruptcy, for all of the financial protection it offers, can indeed have a negative impact. This is mostly felt in your credit rating, which could hinder your ability to borrow money for important purchases such as buying a home. Indeed, how long does it take to qualify for a mortgage after bankruptcy is one of the more common questions posed to us here at The Day Law Office. 

Unfortunately, there is no easy answer to that question. According to information shared by, the standard waiting periods for qualifying for different mortgage programs following you having filed for the various types of bankruptcy are as follows: 

  • Chapter 7: 4 years for a conventional mortgage, 3 years for a USDA loan, 2 years for a loan through the VA or FHA
  • Chapter 13: 2 years from the date of discharge (4 years for a dismissal) for a conventional mortgage, 1 year for a loan through the VA, FHA or USDA
  • Chapter 11: 4 years for a conventional mortgage

Do I have to remove my ex from my will after divorce?

Florida law automatically removes all inheritance rights your ex has by default in your will after your divorce is finalized. Therefore, you probably would not have to worry about any type of automatic inheritance rights your ex has.

That said, this could be an opportunity to review your estate plan and make sure everything is set up correctly. Even though it is included in Florida state law on divorce, the automatic revocation of your ex-spouse's primary inheritance rights may not be right for you. 

Selecting the right executor for your estate

You have the right to determine where your belongings go after you pass. Thankfully, a proper estate plan and will can help to make sure that happens.

Along with those elements, it is important to have the right parties in place to enforce your written orders. That is why selecting the right executor can be almost as important as creating an executable will.

Divorce dispute ends in shooting

Many in Hernando County may currently be experiencing domestic abuse at the hands of a spouse. Some might say that those in such situations should simply leave. Those suffering from such violence, however, may find that leaving is not as easy as many outsiders may think. A common element that often accompanies domestic violence is threats of escalating abuse of a victim ever tries to leave. Abusers will often direct such threats at the victims, their families and friends, or (worse yet) even their children. Thus, abuse victims live in fear that their is nothing that can be done to help free them from their marriages. 

It may be easy to excuse such threats as just that, yet those who make them often have every intention to follow through with them. This may have been exactly what happened in a recent shooting that occurred outside of a police station in Mississippi. A man shot his estranged wife in the parking lot outside the station before turning the gun on himself. The wife had filed for divorce from him in February (the couple had been separated since December). She also had sought a protective order against him (as well as custody of their children) after he reportedly threw a glass at her. The husband died from his wounds; the wife remains hospitalized in critical condition. 

Who gets the pet after a divorce?

Pets are like beloved members of the family to most people. That’s why deciding who gets custody of the pets after a divorce can be so emotionally trying. It’s best for you and your ex to come to an agreement on your own, and PetMD offers the following information on how to do so.

Keep your children in mind

What is a special needs trust?

If one of your children is a special needs child, you may wish to consider establishing a Florida special needs trust for him or her. As FindLaw explains, a special needs trust is one that you set up for the benefit of your child, naming him or her the beneficiary of the trust.

You can name yourself as the trust’s trustee, thereby allowing you to continue to maintain complete control over your child’s assets that you place into the trust, including how and when you distribute them for his or her benefit.

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Day Law Your Hometown Attorneys

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Spring Hill, FL 34606

Toll Free: 888-326-9553
Phone: 352-200-2382
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