Of all the questions you and your spouse might ask prior to filing, this is more than likely not one of them. Like many Florida residents, you might not even be aware that you and your spouse are not required to file jointly. Where it is true that there are numerous advantages to filing with your spouse, you might receive more benefit from a Chapter 7 bankruptcy by filing individually.
Have you accumulated enough debt for collectors to come after you? Do they call you repeatedly and threaten you? You may think that your level of debt makes you deserving of such abusive behavior. The truth is that no matter how much you owe and to how many lenders, there are certain actions you should not have to endure and that are also outright illegal. Learn how to recognize and eliminate creditor harassment so you can resolve your credit issues in peace.
Like many other Florida residents, you could be experiencing financial difficulties that make it nearly impossible to pay your bills each month. You are more than likely enduring harassment by your creditors for payment. If a creditor is threatening to repossess an asset such as your car or motorcycle, it might be time to file for bankruptcy.
Everyone makes mistakes and forgets things. However, a Chapter 7 bankruptcy trustee will more than likely not accept either excuse when it comes to disclosing your assets. If the trustee and the judge determine that a Florida resident attempted to hide assets that would not fall within an exemption, he or she could be denied a discharge, which means that the filer would be responsible for all of the debts that the bankruptcy might have eliminated.
Under the federal Bankruptcy Code, consumers have an opportunity to regain financial stability. However, provisions exist to prevent repeat bankruptcy filings to stop home foreclosure without an attempt to achieve economic rehabilitation. When homeowners nationwide, including in Florida, file for bankruptcy, an automatic stay stops foreclosure and other collection activities.
Some Florida residents might remember Sonny West, who was Elvis Presley's bodyguard and best friend. He is now 78 years old, and his health is failing. Since he was diagnosed with Stage 4 throat cancer, his medical bills have reached the level where he is now in danger of home foreclosure.
Sometimes Florida residents experience catastrophic events that prevent them from being able to meet their financial obligations. That is usually when they file for either Chapter 7 or Chapter 13 bankruptcy. However, what happens if a tragedy strikes while an individual is already in a debt repayment plan?
Getting behind on bills can cause emotional and financial distress for any Florida resident. The situation can be made worse if your lender is threatening to take your home from you through a foreclosure action. If you qualify, Chapter 13 bankruptcy could help you keep your home.
It would be a challenge to find a Florida resident who wants to pay taxes, and it can be nearly impossible when your financial situation is dire. You might have been told that taxes cannot be discharged in a Chapter 7 bankruptcy, but that is not entirely true. Under certain circumstances, some tax obligations can be eliminated through the process.
If you're overwhelmed with credit card debt, filing for bankruptcy isn't the only option you have. You may be able to manage your debt without having to take that route. Before doing so, consult with an Orlando, Florida, bankruptcy lawyer to see if bankruptcy is a more favorable option or if paying off any debt before filing will hurt your case. Once you're sure you can handle credit card debt management, try these three ways to simplify payments and reduce interest.
Many Florida residents believe that their chances of getting a mortgage are close to zero when their financial situations require them to seek protection from a bankruptcy court. Fortunately, bankruptcy does not have the same stigma that it did in decades past. It might give them hope to know that it is possible to obtain a mortgage during or after a Chapter 13 bankruptcy, depending on the circumstances.
When finances are strained, making a mortgage loan payment could be difficult. Missing even one payment could begin a slippery slope to avoiding home foreclosure. Most Florida residents will exhaust all of their options trying to save their homes.