J. Dinkins G. Grange is an attorney in Northeast Florida, helping his clients find solutions to their financial problems, which in some cases includes bankruptcy in some cases. This Blog contains general bankruptcy relevant information. His practice includes representing clients in various areas of civil litigation including Fair Debt Collection Practices Act, Chapter 7 and Chapter 13 bankruptcies, foreclosure defense and probate.
Friday, August 26, 2011
Advantages and Disadvatages of Filing Bankruptcy - Advantages: Part 5
This is the last of a 5 part series on advantages of filing bankruptcy. This will be followed by a 5 part series on the disadvantages of filing bankruptcy.
Other Protections Provided For Through Bankruptcy. While some of the direct advantages have been mentioned in the previous entries, there are some indirect benefits associated with the completion of a bankruptcy, and the entry of a discharge order by the court. They are too numerous to mention all of them, but they include being able to get a driver license back in good standing, where it may have been suspended because of financial responsibility (a Florida term); debt associated with a motor vehicle accident, and liability associated with being a co-signer on a note or loan. If the debts were not discharged in bankruptcy, they could lead to problems that could include things such as employment, security clearances, inability to pay domestic support obligations, and medical bills associated with the stress of having outstanding debts.
Fortunately, the bankruptcy code also protects employed individuals from being discriminated against by their employer because of filing bankruptcy.