Bankruptcy is no walk in the park. When Florida residents give in and liquidate their assets, it usually means they have exhausted all other possibilities and cannot see any other option. It may even feel like they have just stepped over the edge and may never recover a normal life again, but it does not have to be that way.
There are a lot of misconceptions when it comes to filing for bankruptcy, and if you are one of many people across Florida considering taking this step, exercise caution when heeding advice from well-meaning friends or family members. Every bankruptcy situation is different, so what held true for your colleague, neighbor or what have you may not do the same for you. At Kingcade Garcia McMaken, we understand that there is a lot of false information out there when it comes to filing for bankruptcy, and we have helped many clients separate fact from fiction while navigating the process.
If you, like many Americans, find yourself struggling with finances or drowning in overwhelming debt, you may be considering filing for bankruptcy as a way to get a fresh start. While you may be somewhat familiar with the terms "Chapter 7 bankruptcy" or "Chapter 13 bankruptcy," you may understand less about the difference between the two types of filings, or whether one type might be more appropriate for you than the other.
Most Florida beachcombers do not plan to get covered up under a mountain of debt. Instead, the problem starts slowly. One of your credit cards becomes the fallback plan for emergencies, and little by little, a small, unpaid balance becomes a bigger one.
If you count yourself among the many people across Florida who are struggling with mounting debt, you may be giving some thought to the possibility of filing for bankruptcy in an attempt to make your finances more manageable. While you may know that there are different types of bankruptcy proceedings, among them a Chapter 7 bankruptcy and a Chapter 13 bankruptcy, you may know less about the distinctions between the two types, and whether one type may better suit your needs. At Kingcade Garcia McMaken, we understand the differences between varying types of bankruptcy proceedings, and we have helped many Floridians facing overwhelming debt identify the best course of action for their circumstances.
If you are having serious financial troubles and feel like you cannot get on top of your debt, then you may be considering bankruptcy. Taking this step, though, is serious. It can have far-reaching effects. You need to be aware of what will happen when you go to an Ohio bankruptcy court and how filing will affect your assets. This is especially true when it comes to your home.
If you have student loans, you may wonder if there is any help for making the payments more affordable. You are not alone. Many people in Florida share the same concerns. Student loan debt is something that many Americans struggle with and often times end up in serious financial trouble over. The good news is there are quite a few repayment options available. One may be the answer to all your problems. According to the Federal Student Aid office, student loan repayment options are offered based upon different conditions you must meet.
If you are thinking about filing for bankruptcy in Florida, you may have many questions. One of those may be what will happen with your vehicle loan. If you do not own your vehicle, how is that handled when you file? Will you lose it? Can it be left out of the bankruptcy?
If you are considering filing for bankruptcy in Florida, you may have a lot of questions about how the process works, what types of debts you might be able to eliminate and how it might affect your credit, among related concerns. When it comes to bankruptcy, however, there is a lot of misinformation out there, and learning how to separate fact from fiction can help you decide whether filing is the right choice for you. At Kingcade Garcia McMaken, we have a firm understanding of how bankruptcy works, and we have helped countless clients navigate through the process and regain control over their finances.
Florida small business owners struggling with overwhelming debt may find that a Chapter 7 bankruptcy, also known as a straight bankruptcy, is a good option. This is especially true when personal assets are tied to a business. As Fox Business explains, Chapter 7 is particularly appropriate for sole proprietorships since the sole proprietor and the business are one and the same. However, Chapter 7 also is appropriate for any business if there is no hope that it can be reorganized and its debts paid over time.