Many Florida homeowners take out second, third and even fourth mortgages against their property in order to finance repairs, education or other major expenses. However, as you are probably aware, there are risks associated with this practice. What seems like a manageable leverage strategy at first has the potential to take a turn for the worse if the situation changes.
For people in Hernando County facing a rising tide of debt, filing for bankruptcy may be the best option. However, once the smoke clears you may be wondering how you can bounce back from filing and begin to take steps towards repairing your credit. TheStreet.com offers insight into the many ways you can bounce back from bankruptcy, which is crucial for preventing future financial issues from occurring.
A common misconception that many in Hernando County may have regarding personal bankruptcy is that those facing it cannot hide their financial struggles, making it surprising to no one when news surfaces that they are seeking such protection. Yet were one to peel back the proverbial curtain on the personal financial situation of those in his or her own town or neighborhood, he or she might be shocked to see two things: how many people are actually struggling with debt and how good they are at hiding it.
The decision to file for personal bankruptcy in Hernando County is never an easy one. Depending on your circumstances, you could be forced to liquidate certain assets in order to repay your creditors. Almost all of those who come to us here at Day Law preparing to file Chapter 7 bankruptcy share the same question: Will I get to keep my home? If you are contemplating bankruptcy yourself, you can understand their concern. Fortunately, state law does allow you to exempt certain assets from your bankruptcy case.
Loan debt has become the new normal for millions of students across the nation. Struggling to keep up with monthly rent payments, bills and basic necessities, countless young Floridians have become a point of concern among lawmakers and economic experts. While some graduates are able to financially recover after graduation, others are met with challenges for years to come. Will the state of student loan debt see change in the near future?
Medical debt is hardly an isolated issue in America. After all, millions who required various procedures and treatment now experience a different, financial type of suffering. The debt caused by medical bills affects countless Floridians, but will this trend ever come to a close? Some experts claim that this issue is hardly at its end, while others see the light at the end of the tunnel.
Medical debt has moved to the forefront of national concern in recent years. Although it appears to be on the slight decline, it sends countless Americans into financial crises year after year. Personal bankruptcy has been the answer for many Floridians, but what seem to be the causes of medical debt overall?
Nearly every college student in America has likely heard of looming student loan trouble. Like a fairy tale that warns children of the deep, dark forest of dangers, the mountain of debt that countless students have ahead of them can seem a projected adulthood nightmare. The reality of education in today's society, unfortunately, can come with a steep price tag -- one that some graduates carry on their shoulders for decades, and one that dissuades others from seeking a college degree altogether. For Florida students, is there an answer to this debacle?
Like many in Hernando County, you may want to try and avoid having to file for bankruptcy at all costs. Yet in certain situations, seeking such protection might give you the best chance to rebound from whatever financial hardships have placed you in this precarious position. The question then becomes which bankruptcy case is best for you: Chapter 7 or Chapter 13?
Florida residents who are facing yet another holiday season wondering not only how they will buy gifts for loved ones but pay basic bills and living expenses are not alone. Even with a relatively strong domestic economy, many people continue to experience serious financial troubles. Bankruptcy may well offer these consumers the best solution to their problems and give them the chance at a truly fresh financial start.