Like many in Hernando County, you may be surprised at being asked to go through credit counseling prior to seeking personal bankruptcy. The reason for this requirement is three-fold; first, according the Administrative Office of the U.S. Courts, it is a federal requirement. Second, the hope is that you'll be able to avoid the issues that led to you struggling with debt in the future, and education such as this (as well as that which comes from the required debtor education you have to complete prior to your bankruptcy being discharged) should help with that. Finally, pre-bankruptcy credit counseling is to help both you and the courts understand if bankruptcy truly is your best option.
If you have a lien on your property in Florida, it could prevent you from being able to sell your property and pose a threat to your standing with your creditor or lender. If left unattended for too long, it could also begin to affect your credit and create problems that are much more complex to deal with than if you had initially taken care of the lien when it appeared. Fortunately, with a little work, you can get a lien removed on your property so you can regain your good standing.
A common misconception that many in Hernando Count have regarding bankruptcy is that it is just an easy way for you to not have to pay your bills. We here at The Day Law Office have even spoken with potential clients who have been told that through a bankruptcy's automatic stay, any collection efforts that have been initiated against them must cease. Yet while the automatic stay does indeed keep certain creditors from coming after you, it may not signal the end of having to deal with others.
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?