Debt Free in 2017 - Consider Bankruptcy
When the clock struck 12:01 a.m. on January 1, 2017 people across the United States stood back, took stock of the past year and set their resolutions for the New Year. Some resolved to lose weight, others to quit bad habits like smoking and others still resolved to spend more time with family or travel more. A few resolved to get organized financially by spending less and saving more. If you, like many others, have been struggling with debt this past year (or years), then
If you fail to plan, you plan to fail:
If you fail to plan, you plan to fail: Most bankruptcies are a result of an unforseen event such as divorce, illness or the loss of employment. The problem with that statement is that “unforeseeable” events are all but unforeseeable. Yet, most people fail to plan for life’s “What Ifs,” i.e., “What if I lose my job?” or “What if I get sick and can’t work?” and that’s the real problem. One of the most common mistakes we encounter in our office is people’s tendency to spend mo
How to avoid filing for Bankruptcy. (Life is what happens while your busy making plans)
How can you avoid filing for Bankruptcy? 1. Live below your means and save money for a rainy day. 2. Stay healthy and make sure all your family does the same. 3. Don't barrow money you can't pay back within three months. 4. Drive a paid-off dependable used car. 5. Don't get a divorce. 6. Any other uncontrollable and unrealistic goal of your choice. However, life is what happens while your busy making plans. If life happens and you find yourself in the
Is there a right time to file for bankruptcy?
Is there a right time to file for bankruptcy? Yes, timing in bankruptcy can be a very important part of how successful the bankruptcy is. What is a "successful bankruptcy?" To me, a successful bankruptcy is one where the Debtors are able to Discharge all of their debts while at the same time keep all of their assets and/or pay a small portion of their debt back. Many of your prior actions can be detrimental to a successful bankruptcy, but most, if not all, can be improved
Bankruptcy is a very powerful and flexible tool.
A bankruptcy can be a very powerful tool in dealing with your creditors: - A foreclosure sale may be stopped temporarily or permanently. - A mortgage may be modified, in its duration, in its interest rate and/or its principal balance. If you are behind on your mortgage payment bankruptcy may help you modify the terms of your loan or give you up to five years to catch up on your mortgage arrerage. - A second mortgage may even be eliminated all together or reduced to its secure
Bankruptcy may help you save your home!
By now you have probably heard that the Southern District of Florida, Bankruptcy Court, has implemented a mortgage modification procedure. The results have been outstanding! By making a good faith payment, of 31% of your gross income, in your Chapter 13 payment plan, the mediation process takes place while at the same time the Foreclosure process is stopped. While in the modification process, all the documentation is exchanged via a portal established by the Court. This
REBUILD YOUR CREDIT AFTER BANKRUPTCY
Rebuilding Your Credit after Bankruptcy
Obviously, the idea is to file once and get it right so that you never have to file again. Here are some tips on reestablishing your credit rating so that you can make bankruptcy filing truly a financial turning point and a fresh start: Apply for gas credit cards and store cards at businesses where you would normally just pay cash. Pay charges back in full each month or at least pay in a timely manner. Do not carry large balances on th
HELP!, I've fallen and can't get up.
Help!, I've fallen and can't get up. We all remember this line from an old t.v. commercial where an elderly person has physically fallen, is unable to get off the ground by herself, and unable to reach the telephone to call for help. This is not about a physical fall, but finding yourself hopelessly in debt is no picnic either. If you cannot afford to pay your debts, it is very likely a Bankruptcy can help you. Please call our office, Freire & Gonzalez, P.A., (305) 826-1
President Obama signs Executive Order forgiving all unsecured debts to all who can not afford to pay
In an unpresedented move, President Obama signed an Executive Order forgiving all credit card debt, medical bills and deficiencies owed to all who can establish that they are insolvent. The test for insolvency will vary from State to State but could help thousands of people get a head start on life by allowing them to get their finances in order. The Republican lead Congress quickly voiced their opposition to what they claim can only be accomplished by an Act of Congress.
Bankruptcy, there's no shame in it.
If you're overburdened by debt, and who isn't, Bankruptcy may very well be your ticket to financial success. Colonel Sanders, of Kentucky Fried Chicken fame, filed bankruptcy three (3) times before he finally succeeded. Bankruptcy gives people the opportunity to follow their dreams by removing old debt and allowing them to spend their money on things that will improve their lives and society in general. Our office, Freire and Gonzalez, P.A., wants to help you. Call us for
