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chapter 7 Archives

Buying a home after Chapter 7 bankruptcy

Some people may be worried that filing for bankruptcy in Florida may affect their ability to qualify for a home loan. According to Experian, one of the major credit reporting bureaus, it may be possible and profitable to purchase a home through a rent-to-own agreement. While buying a home with this type of contract may not improve a person’s credit score, it does typically allow those with issues on their credit report to become a homeowner.

Financial and physical health often go hand in hand

Unemployed people are not the only ones suffering from financial stress in Florida, and it does not even really matter how much money you make. People from all walks of life find themselves struggling with overwhelming debt. The team at The Law Offices of George Castrataro, P.A., have worked with many who are seeking ways to reduce these burdens.

Chapter 7 bankruptcy and entrepreneur opportunities

Starting and running a small business in Florida may have seemed like a dream come true, but entrepreneurs who are facing overwhelming financial obstacles may be wondering if it is time to give up. Even though many companies fail each year, not every entrepreneur sees a chapter 7 bankruptcy as the end of the line. Many have found that not only is it possible to recover on a personal level, it is also possible to start fresh in the business world.

Disposing of medical debt through Chapter 7

Health problems do not discriminate based on income or insurance coverage, leaving many in Florida with enormous medical debt that they are unable to pay. If one is in a position where paying back medical bills has become impossible, declaring Chapter 7 bankruptcy may be an option to consider. While not all people qualify for Chapter 7, and some have too many assets to be a good candidate, in Florida many are able to dispose of medical debt through bankruptcy.

What is the Chapter 7 means test?

If you are struggling with debt, then you may view a Chapter 7 bankruptcy as your most beneficial alternative to escape the threat of legal action being initiated by your creditors and to re-establish yourself on a firm financial footing. However, like many others in Fort Lauderdale who have sought the same protection, you may be surprised to learn that you must first qualify to file under Chapter 7. To determine your eligibility, you must take the Chapter 7 means test.

How might I keep my vehicle after going bankrupt?

A Chapter 7 bankruptcy discharge can be an invaluable tool for you and other Fort Lauderdale residents who are drowning in debt. During this type of personal bankruptcy, most types of debt can be wiped out, leaving you with a clean slate and the ability to start rebuilding your financial future. However, a Chapter 7 debt discharge does not necessarily mean you will avoid unpleasant consequences. Many of your assets may be liquidated to repay your creditors before the rest of your debt is forgiven. For those undergoing a Chapter 7, this means their home, vehicles and other property.

Can you write a cease and desist letter to your creditors?

If any of your debt has been sent to collections, you may be familiar with harassing phone calls and letters from collection agencies. Like many residents of Fort Lauderdale, you might be resigned to putting up with the annoying contact while you attempt to retake control of your finances. Fortunately, there is a way to stop these phone calls and letters so you can have some peace and quiet.

What types of debt are non-dischargeable?

If, like many Fort Lauderdale residents, you have more debt than you can manage on your own, you might consider filing for bankruptcy. However, it is important for you to know that not all kinds of debt can be discharged through a Chapter 7 bankruptcy. Understanding the basics of how bankruptcy works may help you be prepared for what you still may be obligated to repay.

How can online gaming turn into an expensive habit?

You might find it fun and relaxing to unwind with the latest candy-crushing or zombie-killing app on your phone or tablet. For most people, playing games online is a harmless way to pass a little time. However, for some Fort Lauderdale residents, an innocent game can turn into an addiction that drains their bank accounts and results in unforeseen debt.

The power of the automatic stay

You are considering filing bankruptcy. You cannot meet all of your financial obligations and the creditors collecting the debt are making your life a living hell. Of course, you have done some research on your own and talked to a couple family members about help.