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Posts tagged "Chapter 7 Bankruptcy"

Determine whether or not to file for Chapter 7 bankruptcy

Health insurance costs in Florida and around the country are skyrocketing. In fact, many consumers are forced to be uninsured now because it is difficult to afford the monthly premiums. While premiums are often priced out of reach for many, the alternative is equally frightening. A serious accident or illness could quickly deplete the assets of an uninsured person and create a financial disaster. In fact, many people who file either Chapter 13 or Chapter 7 bankruptcy do so as a result of staggering medical bills.

Rebuilding credit after Chapter 7 bankruptcy is possible

Many Florida residents struggle for a considerable amount of time when it comes to finding the best way to handle their substantial debt. In the end, many people may choose to utilize Chapter 7 bankruptcy in hopes of getting their financial affairs under control. Though this process may prove exceedingly useful, it can also cause some setbacks in regard to credit scores.

Students seek debt relief from fraudulent loans

College students in Florida and elsewhere around the country often incur a large amount of debt while working toward their degrees. Unfortunately, some students obtained loans from schools that acted fraudulently. Recently, it was reported that more than 87,000 debt relief applications are pending at the nation's Department of Education.

Debt relief in the face of national crisis

According to some analysts, the time may be approaching when the financial bubble will burst. In other words, the financial stability many are feeling may disappear. Some may already be experiencing it locally as major retailers close their doors. If a nationwide event occurs, it may result in widespread job losses, stock market crashes and a slowdown in the housing market. Many in Florida who already struggle to pay their debts may be looking for debt relief when their own efforts at reducing their debt fall short.

Chapter 7 bankruptcy discharge violated by wage garnishment

Florida residents may seek bankruptcy relief to regain control of their finances. Many see it as an opportunity to have a fresh start. In fact, in a typical a Chapter 7 bankruptcy, the borrower's debts are discharged after assets have been liquidated and funds are paid to the creditors. However, a couple in another state recently fought attempts to have wages garnished after their discharge.

When to file for Chapter 7 Bankruptcy

Some Florida residents may find themselves struggling financially. Many may miss mortgage payments or are chronically late in submitting the payment. Consumers might pay only the minimum amount due on credit cards each month or start using the cards more frequently for day-to-day expenses. When financial concerns continue to mount, someone may consider filing for Chapter 7 bankruptcy to alleviate the financial stress.

What does debt reaffirmation mean?

Filing for Chapter 7 bankruptcy has the advantage of discharging debt you owe. However, if you used certain property as collateral for a loan, you still will have to provide some sort of compensation to the creditor to avoid losing the property. What do you do when you qualify for a Chapter 7 bankruptcy but want to keep a secured debt? The good news is that you may be able to do both. By reaffirming the debt, you can still file for Chapter 7 and retain the property.

Florida developer files for Chapter 7 bankruptcy

Florida residents may at times find themselves facing difficult financial situations. They are often overwhelmed by debt and struggle to make ends meet each month. Many consider filing for Chapter 7 bankruptcy as a means to regain financial stability in their lives. A former Orlando developer in such a situation recently filed for personal bankruptcy.

Filing Chapter 7 bankruptcy may be turning point for some

Some Florida residents may be struggling with the decision to file for bankruptcy. As they do so, it may help to understand that there is a potential "bright side" to filing Chapter 7 bankruptcy, according to the author of a 2016 book. The author, a consultant and small business owner, filed for both personal and business bankruptcy. but chose to focus on what she could learn from the process and making positive changes to her life.

Chapter 7 bankruptcy trustees could be watching your Facebook

Many Florida residents post pictures of themselves on Facebook that put them in an exotic location or in front of a flashy car. Some appear to be wearing expensive jewelry and sporting wads of cash. These photos might make for a good joke, but if an individual filed for Chapter 7 bankruptcy protection, the photos could cause trouble with the court.

Paul Urich
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Law Office of Paul L. Urich, P.A.
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Orlando, FL 32803
Phone: 407-896-3077
Fax: 407-896-3041

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