Tag Archives: bankruptcy
Don’t use your retirement savings to pay off your debts
Are you dealing with financial difficulties right now? Are you buried by credit card or medical debt? Are you behind on your mortgage payments? If you are struggling with debt and trying to decide how to pay it off, the last thing you want to do is pay it off with your savings or… Read More »
Are you having financial difficulties? You are not alone
No matter how well you plan for retirement or financial stability, a health concern or a lost job can quickly throw your future off track. Even incredibly wealthy people can find themselves in similar financial straits; drowning in debt due to circumstances beyond their control. Teen idol in financial straits In the 1970s, David… Read More »
What is Chapter 11 bankruptcy?
Bankruptcy is a legal declaration to help clear the burden when a small business or individual is overwhelmed with debt. It initiates a process where creditors often agree to new, and lesser, payments in effort to recoup some of the money they are owned. There are different types of bankruptcy within US code, but… Read More »
What chapter should I file under if I am facing foreclosure?
If you determine that bankruptcy is the best path for you to save your home. The next step is to figure out which Chapter makes the most sense for your needs. Every homeowner’s circumstances are so unique. It really is a conversation that needs to be had with a qualified Florida bankruptcy lawyer. As… Read More »
What if I am underwater on my mortgage? Shouldn’t I just walk away?
While the values of many Florida homes have recovered since the real estate crash, several homeowners still find themselves in a situation where they owe more on the mortgage than the property is worth. As recently as a few years ago, many homeowners simply walked away and allowed the bank to foreclose; a practice… Read More »
Bankruptcy and protecting your home: Part I
Unfortunately, there are many people who, to no fault of their own, fall behind on home payments and ultimately face foreclosure. Whether you are having a hard time paying your mortgage due to a medical emergency, unexpected job loss or any other reason, it is important to remember that you may have many options… Read More »
The importance of having a qualified bankruptcy lawyer handling your foreclosure case.
Seven people were recently indicted in Texas for abusing federal bankruptcy protection laws as a way to stop foreclosure actions on their homes. They filed bankruptcy without any intention of attempting to repay their debts. The filings were only intended to suspend the foreclosure process. While the actions by these individuals were deliberate acts… Read More »
Does the bank have the right to take my home?
If you are behind on your mortgage payments, it is possible for the bank to foreclose on your home. When you signed your mortgage agreement and promissory note, your house was put up as collateral in the event that you were unable to make your mortgage payments. That means the bank can force the… Read More »
When is the right time to contact a lawyer about foreclosure?
By the time the lender contacts you to inform you of its intent to foreclose on your home, there has almost certainly been communication between you and the bank regarding past due mortgage payments. Whether through late fees on your mortgage statements, demand letters or collection calls, lenders take specific steps to collect past… Read More »
Why Do So Many Baseball Players Go Bankrupt?
Many baseball players’ professional careers begin in Fort Lauderdale–and end in bankruptcy. To fans, this is unbelievable. We wonder how players could have squandered their salaries. Yet it happens all the time. Jose Canseco made $45 million in his career and later declared bankruptcy. Curt Schilling made $112 million and went broke. And it… Read More »