I Need Help Now
Special Discounts For
Hurricane Victims!
Nowack & Olson, PLLC
South Florida
Bankruptcy Attorneys
Free Consultation
888-813-4737

May 2014 Archives

Late-stage mortgages resulting in major financial challenges

In order to understand the nature and full implications of the financial challenges faced by millions of Americans throughout the state of Florida and beyond, it’s important to look at the economic trends and factors of the past and present. For older Americans currently facing foreclosure and/or personal bankruptcy, the findings of several recent studies point to reasons why so many are now having such a hard time staying afloat after retirement.

The truth about filing for bankruptcy

For many people living in Broward County, Florida, filing for bankruptcy implies negligence or failure to manage one's personal finances correctly. Those that have faced serious financial challenges in recent years understand, however, that there are instances where Chapter 13 and Chapter 7 bankruptcy are the most effective and responsible options available to individuals that have accumulated an unmanageable amount of personal debt. Here are a few key points about what personal bankruptcy can and can't do for people around the country.

Putting consumer debt into perspective

Because different areas of the country are affected by regional and national economic conditions in unique ways, it’s important to analyze issues like bankruptcy and foreclosure rates on a smaller scale before making generalizations about state of the national economy. And when it comes to credit cards and personal debt owed by individuals, determining regional figures can aid in comparing one’s financial situation to that of his or her neighbors. A recent study sheds light on where Miami, Florida, stands in terms of residents’ average credit ratings and personal debts owed.

Credit card debt may be source of depression for older adults

Most people have found themselves complaining about money issues from time to time, but serious financial problems can actually lead to significant physical and mental health issues for many people throughout the state of Florida and beyond. Taking into consideration research findings from a major study, one expert now suggests that the psychological well-being of older Americans may depend, at least in part, on the amount of unsecured debts they carry.

Bankruptcy to stop foreclosure

For the millions of people across the country facing serious financial challenges, the prospect of losing one’s home can be very real and troubling. The only thing many Florida families know about foreclosure is the information their lender provides them with once the process begins, and individuals often feel as though they have few options to keep their homes. Chapter 13 bankruptcy can be used to delay and even stop foreclosure in some instances; however, it’s important that homeowners understand how personal bankruptcy works and its limitations in addressing issues like foreclosure.

Email Us For a Response

Let Us Help You

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Sunrise Office
8551 West Sunrise Blvd., Suite 208
Plantation, FL 33322

Toll Free: 888-813-4737
Phone: 954-349-2265
Plantation Law Office Map

Doral Office
8180 NW 36th St., Suite 102
Miami, FL 33166

Toll Free: 888-813-4737
Phone: 305-698-2265
Miami Law Office Map

Boca Raton & Delray Beach Office
6501 Congress Ave., Suite 100
Boca Raton, FL 33487

Toll Free: 888-813-4737
Phone: 561-463-2265
Boca Raton Law Office Map

Jupiter & Palm Beach Gardens Office
601 Heritage Dr., Suite 137A
Jupiter, FL 33458

Toll Free: 888-813-4737
Phone: 561-463-2265
Jupiter Law Office Map