Are you mired in overwhelming debt? You are not alone. Florida saw nearly 25,000 bankruptcy filings in 2023. Exploring bankruptcy as an option is a big decision. Gathering general information about the process may be helpful, but avoiding common pitfalls before filing...
Bankruptcy
Is it better to file for Chapter 7 or Chapter 13 bankruptcy?
Many people have debt, such as credit card debt, loans and medical bills. There are numerous reasons for people to struggle to pay off their debts. Unemployment can make it harder to pay off these financial obligations. Many people also don’t have savings to help them...
Is a personal bankruptcy part of the public record?
There are many reasons why people might need to file for bankruptcy. Maybe someone with a very tight budget suddenly lost their job and ends up overwhelmed by unmet financial obligations. Perhaps they fell behind on one account, and a creditor served them with...
Overlooked benefits of the automatic stay in bankruptcy
When you file for bankruptcy, one of the many benefits you will receive is an automatic stay. This means that until your case is closed, most of your creditors cannot contact you and they must halt their collections efforts. It’s a court-ordered tool, and you may be...
Should you consider negotiating a repayment plan?
Being in debt can feel overwhelming, and the way out is not always clear. If you’re unable to pay off your debts, what are your options? One option you may have is to arrange repayment plans with creditors. This means that rather than paying lump sums to settle the...
Common reasons why your bankruptcy petition may be denied
Bankruptcy can be a welcome relief when you are struggling with debt. When you are caught in a debt that cannot be forgiven or written off, then you may consider filing for personal bankruptcy. However, it is not uncommon for the court to deny a bankruptcy petition....
What will happen to my investments if I file for bankruptcy?
Personal bankruptcy is often the last line of protection for those struggling with major financial challenges. Whether a professional lost their job unexpectedly or someone had massive unanticipated medical costs, their debts may exceed their ability to pay. Creditors...
Think of bankruptcy as a fresh start
Many people tend to think of filing for bankruptcy as a personal failing. In fact, this is why some people refuse to do it. Bankruptcy could clearly help them, but they think it’s a sign that they have made financial mistakes and/or they feel bad using bankruptcy to...
Is it the right time to file for bankruptcy?
Chapter 7 and Chapter 13 bankruptcy are a few methods to help resolve debt obligations. Filing for bankruptcy can mean major life changes, which is why many people are hesitant to file. It can help to ask the following questions as you consider whether it’s time to...
Demystifying consumer bankruptcy with 4 little-known facts
A Chapter 7 or Chapter 13 bankruptcy filing allows consumers to start fresh with a better understanding of financial matters. Unfortunately, bankruptcy carries an undeserved stigma that deters some from considering it an acceptable debt relief option. Try to look at...