As someone struggling with increasingly overwhelming medical, credit card or other debt, you may be thinking about filing for bankruptcy so you can get that fresh start you desperately need. While filing for bankruptcy may, in fact, be able to help you get your finances back in order so you can manage them, several unavoidable ripple effects come with filing.
Tips for rebuilding credit after bankruptcy
Unwanted heirlooms? Consider having an estate sale
Not all inheritances are needed or wanted, as we at The Day Law Office are aware. If, like many Florida residents after the death of their parents, you find yourself with possessions you have no room or need for, you may feel guilty even thinking about donating or throwing away these items. Fortunately, there may be a better way to unload the unnecessary personal items that you inherited, and to benefit from it as well.
Establishing paternity in Florida
These days, an increasingly high percentage of American babies are born to parents who were never married, and such situations can give rise to a wide range of highly emotional and paternity-related issues. Maybe you are the mother of a child and the person you believe fathered your son or daughter denies it and refuses to help support your child. Or, conversely, maybe you believe you fathered a child and wish to become a part of this child’s life, but the child’s mother is making this difficult.
When must claims against an estate be submitted?
Most in Hernando County may view the probate process as only dealing with the distribution of assets to an estate's beneficiaries. Yet the actual purpose is to settle all of a decedent's financial affairs. This includes any creditors claims that might have been pending against them at the time of their death. If you have been selected as the personal representative of the estate of family member or friend, you may cringe at the thought of having to worry about paying off bills for years and years to come. Fortunately, Florida's Probate Code addresses the amount of time creditors are afforded to make a claim against a person's estate.
Qualifying for a mortgage after filing for bankruptcy
Among the more common misconceptions about bankruptcy is that it comes without consequences. Many in Hernando County might see it as an easy way for you to get away with not having to pay your bills. It might even be tempting for you to view it as a more attractive option than having to submit to the harsh demands of your creditors. Be you should know that bankruptcy, for all of the financial protection it offers, can indeed have a negative impact. This is mostly felt in your credit rating, which could hinder your ability to borrow money for important purchases such as buying a home. Indeed, how long does it take to qualify for a mortgage after bankruptcy is one of the more common questions posed to us here at The Day Law Office.
