Category Archives: Bankruptcy
4 Reasons Not to Delay Your Bankruptcy Filing—and One Situation where It Makes Sense
Far too many people struggle for years with mountains of debt, living under constant stress and not getting ahead financially. In truth, many debtors wait far too long before filing for bankruptcy and would have been better off had they filed sooner. As seasoned Plantation bankruptcy attorneys, we encourage distressed debtors to meet with… Read More »
Has the World Binged on Debt?
Debt is not entirely bad. In fact, it allows people to accomplish all sorts of goals. Imagine if you could not buy a house until you had saved the entire purchase price. Many people would never be able to own a home because they would be spending all of their money on rent. Nevertheless,… Read More »
New York Judge Discharges $220,000 in Student Loans
From the Wall Street Journal comes a heartening story. A federal bankruptcy judge in Poughkeepsie, New York has approved the discharge of almost a quarter million dollars in student loans in a Chapter 7 bankruptcy. The judge did so even though she did not find that the debtor was unemployable or disabled, which are… Read More »
What Happens if Your College Goes Bankrupt?
A couple years ago, a Harvard Business School professor made headlines when he predicted that 50% of all colleges would go bankrupt in a decade. He reasoned that cheaper online education would soon make many 2- and 4-year degree programs obsolete. So far, his predictions have not played out. However, college bankruptcies definitely do… Read More »
Will Filing for Bankruptcy Make it Harder to Find a Job?
Bankruptcy is a public process, but the odds your neighbor finds out you filed are probably pretty low. Most people do not undertake the type of investigation necessary to find out whether the people they know have filed for bankruptcy protection, so we encourage our clients not to be embarrassed when they file. Things… Read More »
Will It Become Easier to Get a Mortgage in 2020?
The current economic expansion is over 10 years old and has already set a record as the longest in U.S. history. Many investors remain wary, expecting the U.S. economy to slide into recession at some point. Mortgage lenders are less pessimistic as we head into a new decade and hope to make even those… Read More »
How Is Detroit Doing after Filing for Bankruptcy?
Detroit’s bankruptcy filing in 2013 was a shot heard around the world. At the time, it was the largest municipal bankruptcy. The city exited bankruptcy protection 17 months later, in 2014, leaner and meaner and ready for a renaissance. How is the city doing a half decade after filing? A recent story in the… Read More »
Recovering from Bankruptcy as a Senior
As we have previously reported on our blog, more seniors than ever are filing for bankruptcy. Of course, a bankruptcy filing does not spell doom and gloom. However, it takes persistence and a detailed strategy to dig your way out and rebuild credit. An article in Barron’s recently tackled this issue. Below, we highlight… Read More »
Signs a Commercial Tenant is Filing for Bankruptcy
Being a landlord is difficult, even if Florida. Our state has generous laws that make it difficult for landlords to evict tenants who do not follow the terms of their lease. One nightmare many landlords have is that their tenant will file for bankruptcy. Filing will allow the tenant to wipe out any unpaid… Read More »
Marijuana Companies Face Financial Difficulties—And Bankruptcy is Not an Answer
For years, marijuana advocates have touted their industry as a sure-fire way to increase business taxes in any state that decriminalizes medicinal or even recreational use of their drug. However, a recent story in the Los Angeles Times has thrown cold water on these dreams: many pot companies are struggling. And the answer to… Read More »