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...
Fort Lauderdale Bankruptcy Blog
Will I lose my property if I file for Chapter 7 bankruptcy?
Filing for Chapter 7 bankruptcy can inspire significant concerns for individuals who are worried about the fate of their property. The thought of losing one's home, car or personal belongings can be daunting. Thankfully, understanding the ins and outs of Chapter 7...
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’s a debt cycle, and how can you get out of one?
Financial challenges are an unfortunate reality for many. One such daunting situation is a debt cycle, an overwhelming loop that traps individuals in a relentless struggle to meet their financial obligations. The journey into a debt cycle often begins with a...
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...