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Miami Bankruptcy Law Blog

How scary will my bankruptcy hearing be?

For many people filing bankruptcy is a blessing and a curse. The collection calls stop and you can finally begin rebuilding your life. However, getting through to the bankruptcy hearing can fill you with anxiety. The fear and embarrassment that clients sometimes experience when filing bankruptcy can be made worse by the anticipation for your bankruptcy hearing.

Harassing debt collection agency to pay $4 million to victims

If you've ever been in debt, it might all sound too familiar. The calls from debt collection agencies start almost immediately. When they don't get what they want, the calls become more and more frequent. After a little time has passed, the calls start to get scarier and scarier. They are supposed to follow the rules, but sometimes the debt collectors blur the line, using threats and intimidation to get debtors to pay.

Can tax debts be discharged by Chapter 7 bankruptcy?

For many, bankruptcy is a godsend that allows good people who've had a bad run get a fresh financial start. Whether the debt was incurred because of a sudden job loss, predatory lending or a tragic disability, Chapter 7 bankruptcy lets debtors discharge a number of unsecured debt and wipe the slate clean. Most debt can be discharged, but there are some exceptions, including things like student loans funded by the government, child support, alimony, fines incurred by breaking the law and Federal tax liens.

Can bankruptcy protect retirement assets?

You've worked hard your entire life, dreaming of the retirement you deserve. Playing golf, traveling the world or sitting beachside with a cocktail. all images that fit nicely into your plan. Of course, things don't always go as planned and retirees can wind up facing financial challenges that threaten to destroy their long-held dreams.

Bankruptcy might not seem like an ideal move for people of retirement age. After all, the last thing you want as a retiree is to feel "wiped out." But, filing for bankruptcy is one way that retirees can guard their assets from creditors. In fact, those of retirement age are in a unique position and can receive a number of exemptions:

Can you file a lawsuit for harassing debt collection calls?

Most people who fall behind on their bills and get into debt don't do it as a malicious act against the creditor. They do it because they lost the income from a job and can't keep up. They do it because of unforeseen emergencies that leave them with debt that is nearly impossible to pay. They might even do it because they were given too much credit or too big a mortgage for their house. So why are creditors and debt collection agencies allowed to call constantly and even get nasty with debtors?

The truth is, they aren't. But that doesn't stop many of them from using harassing tactics like fear and intimidation to get debtors to pay. Consider these cases for example. 

Are non-spousal inherited IRAs exempt in a bankruptcy?

Whether it's because of a job loss, a medical condition or predatory lending, many Floridians find themselves filing for bankruptcy to get a fresh financial start and freedom from the burden of debt. The bankruptcy process requires the filer to list all assets, property and debt. A trustee is typically assigned to the case and is in charge of taking back some assets or selling property to repay creditors with the funds. However, bankruptcy laws give filers a host of exempt property. In other words, these types of property cannot be touched in a bankruptcy.

Can filing for bankruptcy give you the fresh start you need?

Here's the nasty thing about the compound interest on your credit cards, loans and mortgages: it multiplies your debt so quickly that it can be nearly impossible to keep up if you falter for even a brief moment. As your debts begin to pile up, so does your stress. You might try to transfer balances to credit cards with lower interest rates, refinance the home or take out loans to try to keep up, and it may work for a little while, but it's only a stopgap.

What is the bankruptcy means test?

The stress of being in debt can be overwhelming. You may have creditors calling all day, and you may be experiencing sleepless nights or constant anxiety thanks to debt that is spiraling out of control. It's a stressful time, and it's often accompanied by a job loss or disability, but many are too proud to consider a bankruptcy because of the stigma of "failure" that's often attached to it. The truth is, bankruptcy is a means to get a fresh financial start and relieve the stress of financial pressures.

Don't fall for foreclosure relief scams

People find themselves deeply in debt for a number of reasons. Some have been downsized at work, while others have suffered an injury that leaves them disabled and unable to work. Before they know it, creditors are calling all the time and they stress about how they will be able to pay their bills and keep their home from being foreclosed upon. In times like these, people can get desperate, making them a perfect target for unscrupulous scammers who are willing to take advantage of people in their time of need.

When to choose Chapter 13 bankruptcy over Chapter 7

If you've lived here for any amount of time, you know it to be true: the recession hit South Florida harder than most of the country. People were out of work, investors ran for the hills and the real estate market went completely belly up. The economy has shown a marked improvement over the last few years, but many in Dade and Broward counties are still struggling to find good work and make ends meet on a daily basis.

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