Foreclosure and Bankruptcy: How Chapter 7 and Chapter 13 Can Help You Save Your Home
Foreclosure and Bankruptcy: How Chapter 7 and Chapter 13 Can Help You Save Your Home Facing foreclosure in Miami can be a stressful and overwhelming experience, as homeowners struggle to find a way to keep their home and avoid losing their largest investment. Fortunately, filing for bankruptcy can provide a solution for homeowners who are […]
How to know if you need to file bankruptcy
If you have large debts you can’t pay, are behind on your mortgage payments and are in danger of foreclosure, are being harassed by debt collectors, or all of the above, filing for bankruptcy may be the answer. Bankruptcy can, in some cases, reduce or eliminate your debts, save your home, and keep debt collectors […]
What debts cannot be discharged by bankruptcy
Bankruptcy offers people overwhelmed with debt the opportunity to start over through liquidation (Chapter 7) or reorganization (Chapter 13). In both cases, the bankruptcy court can discharge certain debts. Once a debt has been discharged, the creditor can no longer take action against the debtor, such as trying to collect the debt or seizing any […]
How many times can you declare bankruptcy?
When we talk about bankruptcy, it is possible that the same person finds himself in the situation of declaring bankruptcy more than once throughout his life. The good news—if you can call it that—is that there is no law against filing bankruptcy two, three, or as many times as you reach that point of desperation […]
How to use bankruptcy to stop foreclosure
Foreclosure can be one of the scariest prospects a homeowner can face. The mere possibility can make homeowners look for any way to save their homes. Bankruptcy is often seen as a last resort for people heavily in debt beyond their means, and certain parts of the bankruptcy code can seem like lifelines to homeowners […]
Is bankruptcy in Florida helpful for tax debt?
Tax issues can be quite complex to understand in the state of Florida. If we add to this the particularities of bankruptcy processes, the result is a system that is difficult to measure. In many cases, the possibility of eliminating tax debts in bankruptcy is offered, but you may need to take certain precautions before […]
In what cases can Bankruptcy be used?
In the United States, bankruptcy is part of Chapter 11 of the bankruptcy law. Chapter 11 is a form of bankruptcy that involves a reorganization of a debtor’s business affairs, debts, and assets, and for that reason it is known as “reorganization” bankruptcy. Filing for Chapter 11 bankruptcy does not cause the business to close, […]
Can you declare Bankruptcy on Credit Cards?
In many cases, credit card debt can become extremely inconvenient and difficult to pay. In general, people do not consider the possibility of accumulating so much debt on their cards that it becomes unpayable. On the contrary, it is always believed that the financial situation will improve over the months. However, when interest rates rise […]
When to File a Chapter 7 Bankruptcy
Chapter 7 bankruptcy is a resource that allows many people with financial difficulties to start a new life. It is one of the most used resources in bankruptcy situations, both personal and institutional, due to the advantages it offers. In a bankruptcy situation, there are a number of options that can be helpful in preventing […]
Does bankruptcy erase tax debt?
Tax debt to the IRS can be a headache, in many ways. Debts generated by income taxes that have not been paid correctly are very common. Although the amount is not too high, the burden of a tax debt can feel like a real stumbling block. Fortunately, filing for bankruptcy can be a solution to […]