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Posts tagged "Personal bankruptcy"

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.

An alarming number of South Florida homeowners still face foreclosure. What can you do to make sure you are not one of them?

Recent information indicates that, through October of 2016, approximately 1 in every 830 homeowners in Miami-Dade County was facing foreclosure. In Broward County, it's about 1 in every 620. If you are struggling to keep up with your mortgage payments, you don't have to become one of these statistics.

The bank has already started a foreclosure action against me. Is it too late to save my home?

The foreclosure process is a long, painful and brutal one. The home you have worked your entire life to own is at risk of being taken away from you. If you have received a so-called "breach letter," you will know that the bank has initiated a formal foreclosure action against you.

How will a foreclosure impact my credit?

When people are struggling to keep up with their house payments, it doesn't take long for the mortgage company to start threatening foreclosure. One of the first questions people ask is what is going to happen to their credit rating. This is an important question, but there may be larger questions you should be asking, like, "How can I avoid foreclosure completely.?"

Can bankruptcy eliminate tax debt?

While the federal income tax filing deadline has come and gone, there are many who have not filed their tax returns yet. Some have filed for an extension; hoping to find additional exemptions that will potentially lower their tax bill. But there are others who have simply not filed out of fear that they will owe significantly more than what they have.

Why you should not be ashamed of bankruptcy

At first thought, you may think of bankruptcy as the “loser’s” way out of debt; essentially giving up on your efforts to pay bills that will forever label you as a cheat or deadbeat. However, you may soon learn that millions of Americans seek bankruptcy protection every year, and they all have one thing in common: They want to leave their troubled financial pasts behind.

Is there an ideal time to file for bankruptcy protection?

Constantly dealing with debt can be emotionally draining. Just when you think there is light at the end of the proverbial tunnel of debt, it is only an oncoming train loaded with more expenses that you are not ready to deal with. The continuous creditor phone calls, the warnings in the mail and the threat of further creditor action may make you wonder if bankruptcy is right for you.

Bankruptcy laws can provide a way to a different and better future

At some point or another, a significant percentage of residents in and around the Fort Lauderdale area will experience financial hardships. For example dealing with a job loss, medical emergency or accumulating student loans can quickly lead to the accrual of thousands of dollars in debt. In cases where an individual struggles to make monthly payments or is only able to make minimum monthly payments, it’s important to consider possible debt-remedy options.

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