If you are struggling to make your mortgage payments, you might be afraid you will lose your home. Bankruptcy is often a scary term, but it does not have to be. If done correctly, declaring bankruptcy can help you modify your mortgage loan.
If you are in financial turmoil and declaring Chapter 13 bankruptcy, you might be worried about what will happen to your home. The good news is that Chapter 13 bankruptcy gives you tools to delay or prevent foreclosure and modify your mortgage. Just because you are behind on your mortgage payments does not mean all hope is lost. Saving your home is possible.
Debt can threaten to rule your life, but many people avoid addressing the issue for fear that doing so will force them to liquidate their assets. While liquidation is one potential solution to debt, it is not necessarily required. In Chapter 13 bankruptcy, in fact, a vehicle cramdown may allow you to reduce the principle on your loan. Here are some things you should know about this option.
Whatever you think of bankruptcy, you might have a few of the details wrong. It's understandable. We don't tend to give it a lot of thought until the day it matters very much to us. Bankruptcy can be scary because we often don't know someone who's been through the process. Relying on friends for advice won't help, especially if we're too embarrassed to ask.
If you have chosen to file for Chapter 13 bankruptcy in Florida, part of the process is meeting with your creditors, which is called a 341 meeting. The purpose of the meeting is for your bankruptcy trustee and creditors to review your payment plan and financial standing. Knowing what to expect at the meeting can help you better prepare for it. A Florida bankruptcy lawyer can assist you through the entire process of filing for Chapter 13 bankruptcy, including the meeting, to ensure everything goes as smoothly and fairly as possible.
If you are feeling like you are in over your head financially and unable to pay your bills, you may be wondering if Chapter 13 bankruptcy is a good solution for your situation. Here is what you should know about Chapter 13 and how it may help you.
Not having the money to pay all of your bills or make ends meet can be a scary reality. Unfortunately, it's one thousands of Americans deal with every year. In order to maintain the financial status quo, many people rely on their car or vehicle to get them to and from their job. Without a vehicle, maintaining employment could be extremely challenging if not impossible in certain situations.
If you are struggling with overwhelming debt, there are debt relief options available to you, from negotiations and consolidations to completed discharge. What if you earn a decent income? What if you want relief from burdensome debt but don't want to sell your home or give up property to get it?
A recent study conducted by WalletHub suggests that first-time homebuyers in South Florida face a large number of obstacles when it comes to purchasing a house.
You have a good career that gives you a decent income, from either a job or perhaps a small business. However, because of circumstances beyond your control, maybe a lengthy illness, a period of unemployment, or a business downturn, you find that your debts are too big for you to handle on your own.