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Miami Bankruptcy Law Blog

Is rent-to-own really a good option?

Stealing is a crime, right?

It all depends on your definition and the setting in which it takes place.

Some feel that the rent-to-own industry is simply legal theft of the financially burdened who have no other option. But what is rent-to-own? How does it work?

How the Wells Fargo scandal impacts potential mortgage borrowers

Concerned Wells Fargo customers ask whether the bank or credit accounts opened without their permission will hurt their credit rating. More specifically, some are concerned whether these fraudulent accounts will prevent them from buying a home.

This situation with Wells Fargo is a wake-up call for all consumers. People who are rebuilding their credit after filing bankruptcy are particularly vulnerable.

Why is losing credit cards not a con of Chapter 7?

People who are in debt may struggle with finding a solution to their money problems. While some people are able to get out of debt on their own, others may have to file Chapter 7 or Chapter 13 bankruptcy. Of course, filing Chapter 7 will give them the debt relief they need, but many people may not be 100 percent sure about filing because of some of the cons associated with it.

Situations where a person is not eligible for Chapter 13

Those who are looking for debt relief have the option to take advantage of filing for bankruptcy. Depending on the situation, some will file for Chapter 7, but others will choose to file for Chapter 13. Should you be someone who is considering Chapter 13, you will want to ensure you are eligible to do so before taking the time out of your schedule to start the process.

How forbearance can help you avoid foreclosure

When people are on the verge of losing their home, they may feel as though there is not much they can do to save it. Despite how helpless a person may feel in this particular situation, they do have options as to how they can avoid foreclosure. Bankruptcy, which is a common solution to this problem may help, but some people may opt to try something else before they file for bankruptcy.

Why is a second home not exempt in bankruptcy filings?

There are a lot of tough decisions that people have to make in life, and choosing to file for bankruptcy may be one. Although some who have found themselves facing financial challenges jump at the opportunity to file bankruptcy because of what it can do for them, others may find themselves questioning it benefits. This is mostly because depending on what type of property they have, such as a second home, it could be considered non-exempt and ultimately, be taken away.

5 Mistakes millennials make with credit cards

Remember your first credit card? What a thrill that little piece of plastic gave you! It represented freedom, adulthood, acceptance, power. A rite of passage, like your first date or getting your driver license.

A credit card is a powerful tool. But unlike a laser-guided miter saw or a pneumatic framing nail gun, credit cards don't come with instructions. And they can come back to bite you if you use them improperly. What are some common mistakes so-called "millennials," make with credit cards, and how can these be avoided?

Answer your phone when creditors call

There are many people who live in the United States that have debt. Whether it is from student loans, credit cards or something else, it is a debt that must be repaid. For those who can pay this money back with no problem, debt is not something they may worry about. But it is those who have limited funds who find it difficult to pay off their debt and stop creditors from calling on a daily basis.

Your student loans may be dischargeable

When a person decides to file for Chapter 7 bankruptcy, there are several ways they benefit. The most important of these is that they get out of debt, but they also tend to feel a bit of relief from the stress they have been experiencing as a result of the amount of money they owe. In many cases, they can rid themselves of credit card debt and other debt.

Rising condo foreclosures caused by more than just financial setbacks

The Washington Post recently reported on the rising number of condominium foreclosures due in part to the most recent economic recession, but also due to poor management of condominium communities. Low condo prices - often due to foreclosures - attract buyers, particularly in Florida where condos are especially popular.

However, many condo buyers can't keep up with rising association fees.

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