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Miami Bankruptcy Law Blog

Your health may be a reason to consider bankruptcy

Anyone that has experienced the stress and anxiety that comes with financial struggle knows how sickening it can really be. Simply saying it's difficult isn't doing it justice. When times are tough and mounting debt is weighing you down, just getting out of bed in the morning can seem impossible. Like any other kind of stress, financial stress can be bad for you health. If you are experiencing this type of struggle, it may be time to make a change.

Helping hands of the automatic stay

Many people think that their financial struggle doesn't get easier until the bankruptcy has gone through and discharged all their debts. While it's nice to know that you will soon be debt free, it may be better to know that the automatic stay will help you get there.

Co-signers on hook after bankruptcy

Sometimes we all need some extra help. For individuals looking to rebuild credit, a vehicle loan often requires a co-signer. While the hope is that your situation has changed enough that eventually you won't need to depend on someone else's credit, that is not always the case. When struggles continue past a cosigned loan, and you consider bankruptcy, remember that your cosigners are on the hook for your loan, no matter what.

Is my annuity exempt in bankruptcy?

When considering bankruptcy, many individuals want to first know what exactly is exempt and what they stand to lose. While many people that file bankruptcy are struggling with overwhelming debt, some of them still manage to hold on to certain assets like annuities, and want to be able to keep them after bankruptcy. For these individuals, knowing Florida bankruptcy law and having a trusted attorney by their side could make all the difference.

Differences between Chapter 7 and 13 bankruptcy

Bankruptcy is no longer as taboo as it once was. In fact, in the wake of the housing market crash in the mid 2000s, bankruptcy has actually become a saving grace of sorts for many American families. While financial struggle knows no prejudice, bankruptcy does, and for the thousands of American families that are above the income cap for filing Chapter 7, Chapter 13 is their only hope. This separation in filing restrictions has many people asking just what is the difference between Chapter 7 and Chapter 13 bankruptcy?

Can I keep my settlement in my Chapter 7?

There is no hard and fast rule that answers this question. While bankruptcy laws are individual to each state, settlement money awarded to you is a type of property. Depending on where you live, how much and what is exempt, you may be able to file Chapter 7 bankruptcy and still keep part if not all of your settlement.

Ignoring the problem will only make it worse

So many people think that if they just don't answer the phone, the bad collection lady will go away. Well, that is not the case. It really is not the case. In fact, many times, when a creditor doesn't get in contact with you, you're put on a call rotation and may be contacted several times a day. Yes, this is annoying. And yes you may be embarrassed, but simply ignoring the problem won't make it go away.

Personal bankruptcy not the kiss of death

What was once considered the credit kiss of death, bankruptcy is now being seen as a last attempt to re-organize your personal finances and take charge of your debt. For couples trying to make every last dime stretch and banks now tightening their belts on lending, getting ahead or even staying above water is changing how America sees bankruptcy.

Second mortgages stick in Chapter 7

Since the housing market tanked in the mid 2000s, many American homeowners have been scrambling to make ends meet while keeping their homes and mortgages intact. For some individuals that meant taking on a second mortgage, that many couldn't afford. While it was an absolute necessity for some to file Chapter 7 bankruptcy, recent Supreme Court rulings have now made the second mortgage a sticky situation.

Foreclosure avoidance counseling

Facing foreclosure is one of the scariest thoughts to many homeowners. Many times, when the struggle begins, homeowners are reluctant to ask for help, or seek advice for their situation. Embarrassment and frustration often leave people silently suffering the anxiety of foreclosure alone. With so many resources out there available to struggling homeowners, one has to wonder where should you start?

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