The Bankruptcy Law Clinic Blog

The simple answer to this questions is, “Yes, you can declare bankruptcy if medical bills have caused you financial hardship.” As a matter of fact, many people have few financial issues until a medical emergency strikes.  The medical bills are what trigger their need for bankruptcy.  

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The processes surrounding bankruptcy, loan modification and foreclosure in South Florida are often complicated, resulting in several misunderstandings about how these processes work and which one you should pursue if you are facing distressing financial situations.  These common myths make it difficult to make the right decision for your financial future, so dispelling them and learning the truth about which process would work in your favor if you are considering bankruptcy in Florida is an important step to getting back on track with your life and financial goals.

Myth #1 – Loan modification is encouraged by the federal government and therefore anyone can easily get it to reduce the principal amount that’s owed on their home.

Wrong.

Less than 30% of the homeowners who apply for loan modifications are granted them.
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 PRINT THIS OUT AND TAKE IT WITH YOU WHEN YOU VISIT a Bankruptcy Attorney.
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Of course we want to eliminate your debt- we're very good at it.  But your debt is not your entire life.  There's more to you and your life- and what we want is for you to have a bigger life than what you have now. And we can help you achieve it...
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Reminder-  we've shot some simple videos that address some of the most common questions people have.  You can find them on youtube.  Here's one..   http://www.youtube.com/watch?v=qDH0SX7B9Dw

 

Happy client time again.  We got a nice thank you right before Xmas.  Client(s) got rid of debt which meant their creditors could not touch his paycheck, even after he got a nice promotion. 

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For a lot of people, the term “bankruptcy” refers to a trick: People rack up immense debts they can’t hope to pay back, and when justice begins to close in on them they can jump in the escape pod marked Bankruptcy and wriggle out of the consequences, only to repeat the cycle.  This, of course, isn’t true, and as bankruptcy rates skyrocket during the worldwide economic slowdown we’ve been experiencing, more and more people are realizing that bankruptcy serves a legitimate purpose in the world.  To put it in dramatic terms: Bankruptcy allows civilization to exist, because it gives us rules and structure for dealing with financial ruin.

 

The Bad Old Days

In the past, an inability to pay bills was dealt with via a destructive and unrealistic hostility.  People were even thrown into jail because they failed to pay their bills, and even where debtor’s prison didn’t exist, there were usually endless rounds of punishments that sank people into a hole they would never crawl out of.
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You can go dizzy looking at all the bankruptcy information on the web.  Lots of it appears contradictory too.  I usually tell clients to just go to the dept of justice website on bankruptcy. Its boring, but at least they get it right. However, if you made it this far, here's what I think you need to lknow about bankruptcy....

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Life After Wage Garnishment: Can You Live on Less?

Some people are living paycheck to paycheck with no savings to rely on if there is a crisis.   Sound familiar?  We can help

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Here are a couple of bankruptcy questions we get when we answer the phone.  Got your own questions, call us now!  305-663-3281

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When you are struggling with your monthly bills, retirement seems like a far-off event.  If you have some money set aside in a government or company retirement plan read the next three paragraphs.  They are very important.

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