Category Archives: Chapter 7
How do Chapter 7 bankruptcy and Chapter 13 bankruptcy differ
Chapter 7 bankruptcy and Chapter 13 bankruptcy differ in the way that they address debt, treat personal assets and assess the eligibility of consumers. Each year, thousands of people in Miami and other nearby areas seek relief from debt by filing bankruptcy. In 2015 alone, 22,406 bankruptcy filings were reported in the U.S. Bankruptcy… Read More »
South Florida continues to struggle with foreclosures
According to the most recent data, areas of South Florida are still feeling some aftershocks from the recession of 2008. According to data released by RealtyTrac, one out of every 87 homes in Miami-Date, Palm Beach and Broward counties is in foreclosure, making the area the sixth highest foreclosure rate of all major metro… Read More »
Don’t let rumors discourage you from filing Chapter 7 bankruptcy
Many people do not consider Chapter 7 because of unpleasant rumors they have heard. If you are one of the many Americans struggling to make financial ends meet, you may have heard about the relief that Chapter 7 can provide. However, you may have stopped short of taking advantage of it, because you have… Read More »
Give debt the old heave ho with a Chapter 7 bankruptcy filing
If you are one of the many Florida residents drowning in debt, and you lack the funds to get on top of it, you may be sitting in front of your computer looking for relief options right now. You’ve probably seen advertisements for debt consolidation, payday loans, lines of credit and various other band-aid… Read More »
Conquering the feelings of shame over bankruptcy
If you struggled each month to pay your bills and often postponed one or more payments until your next paycheck, you didn’t need anyone to tell you that you were in financial trouble. In fact, you may have lived in fear that today would be the day it all fell apart. Then one day,… Read More »
Are inherited IRAs protected in bankruptcy?
One of the many benefits of bankruptcy is that individual retirement accounts, better known as IRAs, are protected up to roughly $1.2 million. That means any assets held in IRAs up to that amount would not have to be liquidated in the event of a Chapter 7 bankruptcy. This exemption was put into law… Read More »
What is an ‘undue hardship’?
Filing for Chapter 7 bankruptcy protection is a decision many people make when they are in critical need of debt relief. While it is an aggressive solution, it is one that can be quite effective. When a person files Chapter 7, they can have a significant amount of their debt discharged. However, not all… Read More »
Not all debts are discharged by bankruptcy
Throughout Florida, many people have various debts to keep on top of, gradually paying them down. However, it is all too easy for those debts to get out of hand and before you know it, you may not be earning enough to keep up with your repayments. If this happens, you may then have… Read More »
Repairing your credit rating requires a solid plan
Many residents of Florida go through difficult financial times at some point in their lives. Once debts begin to pile up, things can quickly spiral out of control, with interest rates soaring and creditors soon hot on your heels. Before you know it, you could find yourself being hounded by debt collectors and wondering… Read More »
Can Chapter 7 eliminate tax debt?
It can be highly distressing to fall into debt, particularly when there is no clear way out of the situation. Interest rates often mean that once your debt gets out of hand, it can be extremely challenging to cover the cost of repayment while still managing your basic living expenses. Sadly, countless families in… Read More »